Authors: Manoj sangisetti, Omar Tarzibash, Maryam Al-Hamadani, Lara Snjqli
Abstract: This study examines the influence of Financial Technology (FinTech) innovation on banking services in Iraq, focusing on service efficiency, customer satisfaction, integration challenges, and competitiveness and financial inclusion. A mixed-methods research design was adopted, combining quantitative data from 90 respondents, including bank customers and employees, with qualitative insights obtained through semi-structured interviews with bank officials, IT managers, and FinTech consultants. Quantitative data were analyzed using descriptive statistics, Pearson correlation, multiple regression, and one-way ANOVA, while thematic analysis was employed for qualitative findings. The results indicate that FinTech adoption significantly enhances service efficiency, customer satisfaction, and the competitiveness of banks while promoting greater financial inclusion. Correlation analysis revealed strong positive relationships between FinTech adoption and key performance indicators, and regression results identified FinTech adoption as the most influential predictor of banking performance. Despite these benefits, several challenges impede effective implementation, including cybersecurity threats, legacy information systems, limited digital literacy, and regulatory constraints. The findings suggest that while FinTech has substantial potential to transform the Iraqi banking sector, its success depends on addressing technological, institutional, and regulatory barriers. The study concludes that strategic investments in cybersecurity, digital infrastructure modernization, regulatory development, and customer education are essential for maximizing the benefits of FinTech and achieving sustainable banking growth and financial inclusion in Iraq.
DOI: https://doi.org/10.5281/zenodo.20488584
