Investigating The Impact of FinTech on ESG Performance and Financial Performance With an Emphasis on Innovation in The Banking Industry

Abstract :

One of the new industries that has created a huge revolution in the field of banking and business in recent years is the FinTech industry; therefore, many believe that the future of the banking industry depends on paying attention to financial technology. In our country, with the expansion of new and knowledge-based companies in the financial field, the FinTech industry has grown significantly compared to previous years, but it is far from reaching the desired state; for this reason, the need for more research in the field of FinTech is palpable. On the other hand, one of the undeniable issues in today's world is paying attention to the environment. In today's competitive world, if organizations are not concerned about the environment around them and do not meet the demands of their stakeholders, they will be doomed to failure, and therefore, one of the most important measures and basic priorities of every organization should be achieving sustainable performance (ESG). This study aims to explain the impact of FinTech on ESG performance and financial performance with regard to the mediating role of innovation. The research method is based on the applied objective and on the basis of descriptive survey implementation, and the statistical population includes employees and managers of banks admitted to the Tehran Stock Exchange. To collect information from a questionnaire and to examine the research hypotheses, structural equation modeling was used in Smart PLS software, and the results indicate that the model has a good fit and that FinTech and innovation have an impact on ESG performance and financial performance. It was also observed that innovation has a mediating role in the impact of FinTech on ESG performance and financial performance

References:

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