Determinants of Financial-Technology Adoption: The Roles of Social Influence and Financial Inclusion in the Banking Sector

Abstract

This inquiry evaluates how four antecedent variables, trust, perceived security, social influence, and financial inclusion, affect the adoption of financial-technology services in the banking sector. Researchers distributed a structured questionnaire to sixty participants, encompassing university students, corporate staff, bank personnel, and self-employed professionals. To examine bivariate associations, Pearson product–moment correlations were calculated; subsequently, a multiple linear regression model in the Statistical Package for the Social Sciences software estimated each predictor’s contribution to adoption. The model explained that more than 60 percent of the variance in financial-technology usage, indicating solid explanatory power. Results show that social influence and financial inclusion each exert a significant, positive effect on usage, underscoring the role of peer endorsement and accessible financial infrastructure in accelerating technology uptake. By contrast, trust yields a negative coefficient, and perceived security exhibits a modest positive coefficient; however, neither relationship attains statistical significance within the sampled population. The evidence therefore suggests that communal persuasion and inclusive access are more salient motivators of financial-technology adoption than individual perceptions of platform trustworthiness or security, implying that banks should prioritise socially oriented engagement programmes and broadened inclusion initiatives when promoting digital financial services.