Determinants of FinTech adoption maturity and its impact on service innovation: evidence from the banking sector

Purpose The purpose of this study is to examine the effect of competitive pressure, readiness of digital infrastructure and perceived value of FinTech on the maturity of FinTech adoption across Jordanian banking organizations, and assess the manner in which this maturity in turn influences the innovation of FinTech services. The study also aims to investigate the moderating role of perceived value and the mediating role of strategic commitment across these dynamics. Design/methodology/approach The research design utilized a quantitative approach, making use of a standardized survey instrument administered to bank executives, departmental managers and branch managers of nine Jordanian financial institutions. A total of 287 valid questionnaires were analyzed utilizing SmartPLS to measure reliability, validity and relationships in the structural model, focusing especially on the direct, moderating and mediating effects as based on the specified framework. Findings The results suggest that competitive pressure, digital infrastructure readiness and perceived value are important determinants of FinTech maturity progression. Perceived value acts as a moderating variable in the relationship between competitive forces and maturity, whereas strategic commitment acts as a mediator in the relationship between the readiness of the digital infrastructure and maturity. Of particular note, FinTech maturity has a noteworthy positive effect on FinTech service innovation, highlighting its essential function in promoting sustainable and socially responsive financial solutions. Originality/value This research offers one of the first empirical analyses regarding the development of FinTech adoption by banking organizations in Jordan, combining competitive, organizational and perceptual factors within a unified framework. Through examining the interrelation between maturity and sustainable service innovation, this research enriches FinTech literature by going beyond the basic adoption decisions, thus recognizing maturity as a core strategic path to ensure lasting competitiveness and sustainability.