Unearthing antecedents to financial inclusion through FinTech innovations

P. K. Senyo*, Ellis L.C. Osabutey

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

178 Citations (Scopus)


Fintech innovations are enabling access to financial services through mobile devices for many unbanked in the world. Though fintech innovations are touted as game changers in deepening financial inclusion, their wide acceptance and use still remain limited. In the extant literature, technological and behavioural antecedents that influence users’ behaviour toward financial technologies are not fully understood. This study argues that understanding antecedents to the actual use of fintech innovations will lead to deepening financial inclusion. Using mobile money—a type of fintech innovation, this study adopts the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) and the Prospect theory. Drawing on survey data collected from 294 respondents, this study applies the partial least square structural equation modelling technique. The findings show that performance and effort expectancy have significant relationship with the intention to use mobile money services. However, contrary to well-established positions, price value, hedonic motivation, social influence and perceived risk do not influence intention and use of mobile money services. The study makes significant theoretical contributions and offers practical and policy implications for deepening financial inclusion.

Original languageEnglish
Article number102155
Publication statusPublished - 1 Dec 2020
Externally publishedYes


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