Role of Fintech in Financial Institutions

Abstract

Purpose: The aim of this study is to analyze the role of financial technology in financial institutions, particularly in the Pakistan banking sector. Design/methodology/approach: A mono-method which was quantitative research was used in the research design. A survey research approach was adopted in respect of conduct of this study. Final sample of paper consisted of questionnaires. During quantitative analysis, descriptive statistical methods were used to evaluate the role of the financial technology in financial institutions. Finding: The findings, based on the results and analysis generated through data gathered from questionnaire, were that financial technology results in increasing the level of satisfaction of banking customers and profitability of bank. Implication: This study contributes to awareness by providing insight into the role of financial technology in the banking sector. It can help in future research for those willing to carry out research on the role of financial technology in the banking sector. It will help to assess the importance of technology and innovation for banking institutions that have not yet adopted technology.