PANDEMIC CRISIS AND FINTECH - MALAYSIAN EVIDENCE
DOI:
https://doi.org/10.33102/iiecons.v10i1.128Keywords:
Financial technology; Fintech; UTAUT; pandemic; COVID-19Abstract
The recent pandemic crisis that occurred across the globe has changed the way human lives including the use of information and communication technologies (ICT). However, the adoption of technology due to the crisis in financial function is still under research, knowing that Malaysia is an emerging country that still lag behind in responding to Industrial Revolution 4.0. Thus, the purpose of this study is to examine the current state of technology adoption by the finance professional and their determinants to adopt technology, specifically financial technology (Fintech) in the workplace. To achieve these purposes, questionnaires were distributed online to collect the information. It comprises three sections namely demographic information, information on respondents’ experience and knowledge on Fintech and finally the factors that affect users’ intention to use Fintech. This research adopted the Unified Theory of Acceptance and Use of Technology (UTAUT) theoretical framework as a theoretical foundation of the study. The findings showed that while the respondents are considered as highly experienced and heavy technology users, they have a moderate knowledge of technology. In addition, performance expectancy, behavioral intention and attitude are the biggest influence for them to adopt Fintech in the workplace. This finding shows that many finance professionals in Malaysia do not refuse to revolutionize their work process by transforming their job tools from manual-based to computerized operation and use more sophisticated devices.
Downloads
References
Abidin, M. A. Z., Nawawi, A., & Salin, A. S. A. P. (2019). Customer data security and theft: a Malaysian organization’s experience. Information & Computer Security, 27(1), 81-100.
Abhari, S., Jalali, A., Jaafar, M., & Tajaddini, R. (2022). The impact of Covid-19 pandemic on small businesses in tourism and hospitality industry in Malaysia. Journal of Research in Marketing and Entrepreneurship, 24(1), 75-91.
ACCA. (2020). Covid-19: The road to recovery? Retrieved from ACCA https://www.accaglobal.com/gb/en/professional-insights/global-economics/Covid-19_Road_to_recovery.html.
Alaloul, W. S., Liew, M., Zawawi, N. A. W. A., & Kennedy, I. B. (2020). Industrial Revolution 4.0 in the construction industry: Challenges and opportunities for stakeholders. Ain Shams Engineering Journal, 11(1), 225-230.
Bakar, N. A. A., Deraman, Z., Tarmiji, M. F., Yusoff, R., & Kama, N. (2020). Workplace digitalization in public sector organization towards operational effectiveness: Current landscape, issues and challenges. International Journal of Innovation in Enterprise System, 4(1), 78-83.
Bardhan, R., Byrd, T., & Boyd, J. (2022). Workforce Management during the Time of COVID-19-Lessons learned and future measures. COVID, 3(1), 1-27.
Battisti, E., Alfiero, S., & Leonidou, E. (2022). Remote working and digital transformation during the COVID-19 pandemic: Economic–financial impacts and psychological drivers for employees. Journal of Business Research, 150, 38-50.
Chao, C. M. (2019). Factors determining the behavioural intention to use mobile learning: An application and extension of the UTAUT model. Frontiers in Psychology, 10(1652),1-14.
Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 318–339.
Donthu, N., & Gustafsson, A. (2020). Effects of COVID-19 on business and research. Journal of Business Research, 117, 284–289.
Karim, N. A., Nawawi, A., & Salin, A. S. A. P. (2018). Inventory management effectiveness of a manufacturing company–Malaysian evidence. International Journal of Law and Management, 60(5), 1163-1178.
Lu, Y. (2017). Industry 4.0: A survey on technologies, applications and open research issues. Journal of Industrial Information Integration, 6, 1-10
Marinova, D., de Ruyter, K., Huang, M. -H., Meuter, M. L., & Challagalla, G. (2017). Getting smart: Learning from technology-empowered frontline interactions. Journal of Service Research, 20(1), 29-42.
Nawawi, A., & Salin, A. S. A. P. (2018). Internal control and employees’ occupational fraud on expenditure claims. Journal of Financial Crime, 25(3), 891-906.
Nor, N. H. M., Nawawi, A., & Salin, A. S. A. P. (2018). The impact of audit committee independence and auditor choice on firms' investment level. Pertanika Journal of Social Sciences & Humanities, 26(3), 1433-1454.
Pantano, E., Pizzi, G., Scarpi, D., & Dennis, C. (2020). Competing during a pandemic? Retailers’ ups and downs during the COVID-19 outbreak. Journal of Business Research, 116, 209-213.
QuickFee. (2020, March-May). Covid-19 impact on the accounting and legal industry in the United States. Retrieved from https://quickfee.com/covid-19-impact-on-the-accounting-and-legal-industry-in-the-united-states/
Rymarczyk, J. (2020). Technologies, opportunities and challenges of the Industrial Revolution 4.0: Theoretical considerations. Entrepreneurial Business and Economic Review, 8(1), 185-198.
Sekaran, U. & Bougie, R. (2013). Research method for business (6th ed.). John Wiley and Sons, Inc.NY.
Shahar, N. A., Nawawi, A., & Salin, A. S. A. P. (2020). Shari’a corporate governance disclosure of Malaysian IFIS. Journal of Islamic Accounting and Business Research, 11(4), 845-868.
UNDP China. (2020). Assessment report on impact of COVID-19 pandemic on Chinese enterprises. UNDP, N.Y.
Venkatesh, V., Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly, 27(3), 425-478.
Verma, S., & Gustafsson, A. (2020). Investigating the emerging COVID-19 research trends in the field of business and management: A bibliometric analysis approach. Journal of Business Research, 118, 253-261.
