Background of the Study
Fintech solutions have revolutionized the banking sector by enhancing accessibility, efficiency, and customer satisfaction. In rural areas, where traditional banking services are limited, fintech solutions such as mobile banking, digital wallets, and agent banking provide essential financial services to underserved populations (Abubakar & Ibrahim, 2023). However, the adoption of these solutions in rural banking in Niger State remains a challenge due to infrastructural deficits, limited digital literacy, and resistance to change. Understanding these issues is vital for promoting financial inclusion and leveraging the benefits of fintech in rural areas.
Statement of the Problem
Despite the potential of fintech solutions to bridge the financial inclusion gap, their adoption in rural banking in Niger State has been slow. Challenges such as poor internet connectivity, lack of awareness among rural residents, and high initial costs hinder their implementation. This study investigates the factors affecting the adoption of fintech solutions in rural banks and explores strategies to overcome these barriers.
Objectives of the Study
Research Questions
Research Hypotheses
Scope and Limitations of the Study
The study focuses on banks operating in rural areas of Niger State and their efforts to adopt fintech solutions. Limitations include difficulty in accessing data from rural bank branches and variability in fintech usage among different banks.
Definitions of Terms
Fintech Solutions: Technology-driven innovations that provide financial services, such as mobile banking and digital wallets.
Rural Banking: Financial services offered in rural areas, typically to underserved populations.
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