Adoption Factors of FinTech Products & Services in Islamic Banking Industry in Malaysia: A Literiture Review

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Mohd Fodli Hamzah , Tengku Maaidah Tengku A Razak , Cik Ku Haroswati Che Ku Yahaya , Zelhuda Shamsuddin , Syaidatun Nazirah Abu Zahrin


FinTech is an innovation of technology to perform financial transactions for banking industry. Many studies have been conducted to explore and examine the factors that influence the adoption factors of FinTech among the users especially in financial industry. This study was conducted to explore the common factors that give an impact to the adoption factors of FinTech based on the secondary data obtained from the previous research. It can be concluded that most important factors that reflect the adoption of Fintech are perceive ease of use and perceive of usefulness. The study also revealed that users’ trust in FinTech services has a very significant influence on users’ attitudes for adoption. Therefore, the provider of FinTech especially the financial industry should emphasize to improve the efficiency of the potential users and how the services can lead to cost-saving to the user as compared with the conventional channel of doing transactions. Besides that, it is also important to ensure the understanding of the users and improve the user's experience of using the FinTech products and services. The study also revealed that the users need to give an assurance that the data is fully secured and protected and has highly reliable cybersecurity features. This study contributes to the literature of the adoption of FinTech services by providing a more comprehensive view of the determinants of users’ adoptions toward FinTech by combining trust of Fintech services as well as attitude with the theory of Technology Acceptance Model or TAM.

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