Fintech in the Performance of Nigeria Banking Industry

This study examined the effects of the fintech of bank performance (i.e., Automated Teller machine (ATM) services, internet banking (IB) services, Point of Sales (POS) services, mobile banking (MB) services and interest rates) in Nigeria. Specifically, the study evaluated how bank performance has been influenced by Automated Teller machine (ATM) services, internet banking (IB) services, Point of Sales (POS) services, mobile banking (MB) services and interest rate. The study was hinged on the Diffusion of Innovation Theory (DIT). The study estimation was based on the autoregressive distributed lag (ARDL) model. The result of the study showed that, from 2009Q1 to 2022Q4, ATM, internet banking and mobile banking services negatively impacted bank performance in Nigeria, while Point of Sales services positively impacted bank performance. This study recommends Nigerian banks invest in advanced security technologies, robust cybersecurity measures, and improved customer support services to mitigate ATM fraud risks, maintain the benefits of Point of Sales (POS) integration, and enhance regulatory frameworks for mobile banking operations.