EFFECT OF FINANCIAL TECHNOLOGY ON FIRMS' FINANCIAL SERVICE DELIVERY IN NIGERIA: A LITERATURE REVIEW

Authors

  • Abdulrazaq, Suleiman Ibrahim Department of Business Administration, University of Maiduguri, Borno State, Nigeria
  • Umar Mohammed Ngubdo Department of Business Administration, University of Maiduguri, Borno State, Nigeria.
  • Abubakar Usman Yusuf Department of Business Administration, Ahmadu Bello University Zaria, Kaduna State, Nigeria.
  • Fatima Usman Mohammed Department of Business Administration, University of Maiduguri, Borno State, Nigeria.

Keywords:

Financial technology, financial service delivery, Performance, Small and Medium Enterprises

Abstract

To ascertain the impact of financial technology as a tool for enterprises' efficient financial service delivery in Nigeria, the research reviews the literature on the variables under consideration. The study is entirely exploratory and solely based on desk research. For this reason, the study evaluated several articles and produced meaningful findings. Most of the arguments favouring assessing the research variables were backed up by previous literature. According to the study's findings, financial technology (fintech) nowadays is the key factor defining competitive advantage in the financial services industry. New financial technologies are essential for businesses to learn and implement since they collectively help improve customer service. A significant problem affecting financial service delivery is ineffective regulation causes lawbreaking and fraud. According to the survey, Nigerian businesses should fully optimize and expand their digital FinTech operations to significantly outperform traditional companies and ensure the delivery of financial services and sector stability. The government should also implement measures that would support the financial technology sector even more and support entrepreneurs within Nigerian borders.

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Published

2023-10-03

Issue

Vol. 1 No. 3 (2023): SEPTEMBER

Section

Articles