The influence of some fintech service on the performance of Islamic bank in Jordan

Abstract

Islamic banking across the developing countries may undoubtedly become more prevalent thanks to financial technology, making it more competitive in the financial sector. The current study's goal is to extensively address fintech on Islamic banks and to examine the effect of fintech Services upon Islamic banking financial performance around Jordan. The investigation utilized a quantitative-descriptive survey approach. The study utilized annual data (panel data) which were acquired via financial institutions figures of the annual statements from the Jordan's Islamic Bank (JIB) registered with Amman Stock Exchange from 2017 to 2021. This investigation found Fintech services, such as internet banking, mobile banking, crowdfunding, and automated teller machines had a substantial effect on JIB's financial performance. The positive beta value suggests that there were favorable relationships among JIB's financial success from 2017 to 2021 on Fintech services. Finally, the study recommends that JIB increase its efforts to inform the public concerning Islamic banking services.