ENTREPRENEURSHIP AND INNOVATION IN BANKING POST COVID-19: A CONCEPTUAL ANALYSIS OF FINTECH’S ROLE

Abstract

The operational concept, philosophy, logic and end goal of both entrepreneurship and Banking innovation could best be describe as a deliberate concept geared towards ensuring ease of doing banking business in the most economical manner. The emphasis of such concept among other things are primarily concerned with the level of satisfaction a customer is expected to attain through its numerous services which add value to human lives whether commercially or otherwise. This paper examines entrepreneurship and innovation in banking Post Covid-19: A conceptual analysis of Fintech’s role. It aims to determine the effectiveness of the study model in serving as a way-out to the country`s socio-economic challenges brought about by Covid-19 pandemic, particularly in the Nigeria Banking sector. The study also evaluated the impact of covid pandemic on banking business and services as well as unravelled the connection between the growth of FinTech activity and bank stock return on investments (ROI) using action research methodology. Five relevant theories were reviewed having their roots from economics, psychology, sociology, anthropology, opportunistic and resources-based management. Findings showed a decrease in banks loan-to-deposit ratio of the banks from 63% before the pandemic to 58.96% during the pandemic. However, banks’ liquidity before the pandemic stood at (49.8900) was higher than the liquidity position during the pandemic at (45.0540). Banking automation remained the most efficient, convenient and accessible platforms suitable at all times. Empirical studies are hereby recommended for more holistic idea in the relationship between entrepreneurship & Banking innovation.