Fin-Tech Application in Saudi Arabia

Abstract

The study aims to assess factors influencing the adoption of digital financial services by micro, small, and medium enterprises (MSMEs) and to evaluate the organizational benefits they derive from fintech integration. The framework for this study was the combination of the technology–organization–environment and technology acceptance model; survey questionnaire was used to collect data from 52 business owners and managers at MSMEs in Saudi Arabia. The variables considered in this study included relative advantage, security, trust, complexity, technology readiness, top management support, organizational competence, competition intensity, vendor quality, government engagement, regulation, ease of use, regulation, and perceived usefulness that affect fintech adoption by MSMEs in Saudi Arabia. The findings show that all studied variables positively affect the adoption of fintech services by MSMEs in Saudi Arabia, except for complexity, security, trust, and vendor quality. Additionally, participating organizations generally have a favorable perception of the fintech services provided.