Fintech Adoption for Inclusive Finance: The Mediating Role of Trust in Government Support, Social Influence, and Performance Management

Abstract

This study examines the factors influencing trust in FinTech services and their role in promoting the use of FinTech for financial inclusion in Saudi Arabia. Adopting a cross-sectional study design, data was collected from employees in the manufacturing sector using an online survey. Structural equation modeling with SmartPLS was used to analyze the data, focusing on the measurement and structural models. The findings reveal that government support (β = 0.518), social influence (β = 0.431), and performance management (β = 0.792) significantly influence trust in FinTech services. Trust, in turn, has a strong direct effect on the use of FinTech for financial inclusion (β = 0.85). Additionally, trust mediates the indirect effects of government support (β = 0.453), social influence (β = 0.396), and performance management (β = 0.673) on the use of FinTech for financial inclusion. The study underscores the pivotal role of trust in fostering FinTech adoption, particularly in the context of Saudi Arabia’s Vision 2030 goals, which emphasize digital transformation and financial inclusion. By addressing the factors that influence trust, stakeholders can create an enabling ecosystem that encourages the widespread use of FinTech services, ultimately contributing to sustainable economic growth and development.