Predicting Fintech Innovation Adoption: the Mediator Role of Social Norms and Attitudes

Abstract

Digital innovation is challenging the traditional way of ofering fnancial services to companies; the so-called Fintech phenomenon refers to startups that use the latest technologies to ofer innovative fnancial services. Within the framework of the Theory of Planned Behavior (TPB) and the Theory of Reasoned Action (TRA), the primary pur pose of this paper is to develop a causal-predictive analysis of the relationship between Subjective Norms, Attitudes, and Perceived Behavioral Control with the Intention to Use and Behavioral Use of the Fintech services by companies. Partial Least Squares Structural Equation Modeling methodology was used with data collected from a sur vey of 300 companies. Our fndings support the TRA and TPB models and confrm their robustness in predicting companies’ intention and use of Fintech services. Financial technology innovators must understand the processes involved in users’ adoption to design sound strategies that increase the viability of their services. Studying the ante cedents of behavioral intention to adopt Fintech services can greatly help understand the pace of adoption, allowing these players to attract and retain customers better. This study contributes to the literature by formulating and validating TPB to predict Fintech adoption, and its fndings provide useful information for banks and Fintech companies and lead to an improvement in organizational performance management in formulat ing marketing strategies.