The Acceptance and Use of Islamic Financial Technology (Islamic FinTech): Saudi Banks' Perspective

This research seeks to establish a Saudi bank's perspective concerning the Acceptance and Use of Islamic Financial Technology (Islamic FinTech). This study aimed to evaluate models of acceptance and use and provide reasons for integrating them into search questions. The questions answer what, how, and under what conditions the behavioural intention is accepted. At the same time, Acceptance focuses on bridging the usage gap and pinpointing concepts related to Islamic FinTech use. The research uses a rigorous methodology that evaluates the relationship between usage models. Usage evaluates certain Islamic fintech use cases, and usage online assesses the questionnaire's reliability. Internal reliability assesses the consistency of results across response elements of 666 managers in Saudi banks. External reliability refers to how measures vary between acceptance and usage models. The literature comprehensive review evaluates eight theoretical frameworks for acceptance and seven conceptual models for usage. These encompass the Technology Acceptance Models (TAMs), including the Motivational Model, the Theory of Reasoned Action, the Theory of Planned Behaviour, the Model of Personal Computer Utilisation. the Innovation Diffusion Theory and Social Cognitive Theory. This study also compares the two predominant models in the relationship between the Unified Theory of Acceptance and Use of Technology 1(UTAUT 1) and the Unified Theory of Acceptance and Use of Technology 2 (UTAUT 2). From a scientific perspective, the models of acceptance and usage are examined through two methodological approaches. Firstly, mediation is employed to investigate the acceptable interrelations among critical constructs, encompassing Effort Expectancy, Hedonic Motivation, Performance Expectancy, Habit, Social Influence, Price Value, Facilitating Conditions, Behavioural Intention, and Islamic FinTech Use (IFT Use). Secondly, moderation is applied to seven demographic variables, including Gender, Age, Experience, Religion, Language, Education, and Managerial Level. The assessment delineated a pivotal distinction between the models. Each specified model underwent initial scrutiny through Exploratory Factor Analysis, followed by Confirmatory Factor Analysis. Notably, the investigation employed Partial Least Squares (PLS) methodology to evaluate the reliability and validity of the measurements rigorously. The measure was particularly pertinent given the numerous indirect effects inherent in the acceptance models, with PLS adeptly facilitating the direct exploration of usage complexities via path modelling. Path modelling elucidated that each explicative factor significantly and directly influences the designated variables, validated at a 95% confidence interval. The primary aim of this evaluation was to dissect the efficacy of diverse methodologies in analysing acceptance dynamics within Islamic FinTech contexts. Moreover, an array of models was deployed to scrutinise the moderating effects. The analytical outcomes revealed that five of the seven investigated moderators substantially impacted the model.The effects further uncover that Gender serves as a critical moderating variable in the nexus between Effort Expectancy and Behavioural Intention and modulates the relationships involving Facilitating Conditions, Habit, Behavioural Intention, and Islamic FinTech Use. Concurrently, Age emerges as a moderator in the linkage between Behavioural Intention and Islamic FinTech Use. Moreover, Religion appears to be a pivotal moderator, directly influencing the effect of facilitating conditions on Islamic FinTech use. Acting as a moderator, the Language variable distinctly shapes the interplay between Facilitating Conditions and Hedonic Motivations on Behavioural Intention. Lastly, the Education variable is found to moderate four specific relational dynamics, significantly passing the impacts of social influence and habit on behavioural intention and the influences of behavioural intention and facilitating conditions on Islamic FinTech use. Higher education has helped Islamic FinTech develop more effective strategies for promoting FinTech adoption and use, leading to enhanced managers' performance.