Consumers’ perception towards Fintech and Traditional Financial Institutions (A case study of Nigeria)

Abolade, Olayinka (2023) Consumers’ perception towards Fintech and Traditional Financial Institutions (A case study of Nigeria). Masters thesis, Dublin, National College of Ireland.

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Abstract

The global transition towards a digital economy, influenced by rapid technological advancements, is intimately connected to consumer perceptions. How consumers perceive and adapt to these changes can either accelerate or hinder this worldwide shift. Nigeria, recognizing the pivotal role of consumer perceptions, prioritizes its transformation into a digital economy. The Nigerian financial sector, as a central player in this transformation, requires a strategic, coordinated approach to not only adopt digital technologies but also align with evolving consumer preferences. Factors such as trust, perceived risk, and convenience play a critical role in navigating these preferences between fintech and traditional financial institutions. Through the application of the UTAUT framework, this study discerns key determinants influencing consumer choices. Machine learning analysis highlighted determinants such as convenience that a consumer enjoy are crucial and control of their financial transaction is paramount while including social constructs like peer and family influence play a less significant role in switching to digital payment. Another determinant for switching to digital payment includes security, under the umbrella of performance expectancy (PE), which emerged as pivotal, but effort expectancy (EE) had little significance. Ensuring facilitating conditions, crucial for the uptake of digital financial services, showcases the nuanced dance between consumer perceptions and the strategic trajectory of Nigeria's financial sector in the global digital economy narrative.

Item Type:	Thesis (Masters)
Supervisors:	Name Email Byrne, Brian UNSPECIFIED
Uncontrolled Keywords:	Consumers; Digital financial service; traditional Financial Institution; UTAUT
Subjects:	H Social Sciences > HF Commerce > Marketing > Consumer Behaviour H Social Sciences > HF Commerce > Electronic Commerce H Social Sciences > HG Finance > Financial Services H Social Sciences > HG Finance > Fintech T Technology > T Technology (General) > Information Technology > Fintech
Divisions:	School of Computing > Master of Science in FinTech
Depositing User:	Tamara Malone
Date Deposited:	02 Aug 2024 09:51
Last Modified:	02 Aug 2024 09:51
URI:	https://norma.ncirl.ie/id/eprint/7009

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