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A Study on the Adoption of Fintech Solutions in Rural Banking: A Case Study of Banks in Niger State

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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

  1. To identify the factors influencing the adoption of fintech solutions in rural banking in Niger State.
  2. To assess the impact of these factors on the effectiveness of fintech solutions in enhancing financial services.
  3. To recommend strategies for improving the adoption of fintech solutions in rural banking.

Research Questions

  1. What are the factors influencing the adoption of fintech solutions in rural banking in Niger State?
  2. How do these factors affect the effectiveness of fintech solutions in providing financial services?
  3. What strategies can enhance the adoption of fintech solutions in rural banking?

Research Hypotheses

  1. Factors influencing the adoption of fintech solutions do not significantly affect their implementation in rural banking.
  2. The effectiveness of fintech solutions is not significantly impacted by the challenges of adoption in rural banking.
  3. Proposed strategies do not significantly improve the adoption of fintech solutions in rural banking.

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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