Factors Affecting Fintech Acceptance in Sri Lanka
Dhanushka Piyananda , Chandana Aluthge
Abstract - The purpose of this research is to identify the factors that affect consumers’ Fintech acceptance in Sri Lanka Based on the theory of Scenarization of Finance and some of the models developed in the information system field such as the Technology Acceptance Model, Unified Theory of Acceptance and Use of Technology, and Risky Technology Adoption models digital accessibility, digital capability, convenience, social influence, personal innovativeness, security concerns, and price value variables were selected as the significant variables for the proposed research framework. Structural Equation Model was used as a statistical test with SmartPLS software. The data source in this research is 440 primary data collected from Fintech banking services consumers. The results of the statistical analysis demonstrated that the level of scenarization of finance, measured in terms of digital accessibility, digital capability, and ease of use is a key concern when determining the adoption intention of Fintech services. Further, both social influence and price value have a significant negative impact while personal innovativeness creates a significant positive impact on consumers’ adoption intention. Also the study revealed that security concerns are having a negative impact, but the impact is not significant in the Sri Lankan context.
Keywords:Fintech, adoption intention, TAM, UTAUT, RAT, Scenarization of finance