Digital Financial Inclusion Sustainability in Jordanian Context

Examining the critical factors of internal audit effectiveness from internal auditors' perspective: Moderating role of extrinsic rewards

An effective internal auditor can support an organization in achieving its goals and protect its assets and funds. However, to be effective, the internal auditors need to be empowered with relevant resources. This study aims at probing the influence of the empowerments (management support, external auditors' collaboration, independence, size of internal audit units, and extrinsic rewards) on the internal auditors' effectiveness, and to examin whether extrinsic rewards moderate the association between respective empowerments and the effectiveness of Jordanian public sector internal auditors'. The current work relied on 117 surveys collected from Jordan's internal audit and financial managers in the public sectors. According to the Resource-Based View (RBV), the findings show that management support, external auditors cooperation, independence, and extrinsic rewards all have a significant influence on the effectiveness of internal auditor. The of the Internal Audit Department (IAD) size was discovered to be insignificant. Also, the results have revealed partial support for the influence of the extrinsic reward as a moderator. Because of the prominence of the public sector in the Jordanian market, this current research expands on the idea of enabling internal auditor (IA) to accomplish their assigned objectives. The findings might help authorities develop new norms and legislation for the internal audit profession. These empowering characteristics may also improve internal auditors' capacity to execute their duty in saving public monies and limiting corrupt practices inside public sector organizations.

Big data analytics and innovation in e-commerce: current insights and future directions

Big data analytics (BDA), as a new innovation tool, played an important role in helping businesses to survive and thrive during great crises and mega disruptions like COVID-19 by transitioning to and scaling e-commerce. Accordingly, the main purpose of the current research was to have a meaningful comprehensive overview of BDA and innovation in e-commerce research published in journals indexed by the Scopus database. In order to describe, explore, and analyze the evolution of publication (co-citation, co-authorship, bibliographical coupling, etc.), the bibliometric method has been utilized to analyze 541 documents from the international Scopus database by using different programs such as VOSviewer and Rstudio. The results of this paper show that many researchers in the e-commerce area focused on and applied data analytical solutions to fight the COVID-19 disease and establish preventive actions against it in various innovative manners. In addition, BDA and innovation in e-commerce is an interdisciplinary research field that could be explored from different perspectives and approaches, such as technology, business, commerce, finance, sociology, and economics. Moreover, the research findings are considered an invitation to those data analysts and innovators to contribute more to the body of the literature through high-impact industry-oriented research which can improve the adoption process of big data analytics and innovation in organizations. Finally, this study proposes future research agenda and guidelines suggested to be explored further.

The influence of accounting information system adoption on business performance amid COVID-19

The previous decade witnessed the dynamic progress that information systems (ISs) brought about in business performances. In this regard, an effective and efficient organization reflects heightened performance through the use of financial systems like the Accounting Information System (AIS) as the system automates the processes and improves efficiencies. In the current times, AIS has been the reason behind the optimum performance of businesses, with past studies evidencing its successful role dependent on critical success factors. Hence, the primary aim of this study is to evaluate AIS through the use of De Lone and Mc Lean's information sys-tem model (DM ISM) among Sudanese banks. The system focuses on critical factors including information quality, system quality, service quality, system usage and user satisfaction and their effects on the performance of banks in Sudan. Accordingly, this study made use of self-administered survey questionnaire to collect data from 103 AIS user, after which PLS-SEM was employed for data validation. The findings supported the significant effects of system and information quality on system usage but not services quality. Also, AIS use was found to significantly affect the performance of business. The study contributed to literature concerning IS in light of AIS benefits determinants, and it validated the proposed model among firms in Sudan. In effect, the study has both theoretical and practical significance, and it provided limitations, implications and future studies recommendations.

Factors for the implementation of the circular economy in Big Data environments in service companies in post pandemic times of COVID-19: The case of Colombia

In emerging economies, Big Data (BD) analytics has become increasingly popular, particularly regarding the opportunities and expected benefits. Such analyzes have identified that the production and consumption of goods and services, while unavoidable, have proven to be unsustainable and inefficient. For this reason, the concept of the circular economy (CE) has emerged strongly as a sustainable approach that contributes to the eco-efficient use of resources. However, to develop a circular economy in DB environments, it is necessary to understand what factors influence the intention to accept its implementation. The main objective of this research was to assess the influence of attitudes, subjective norms, and perceived behavioral norms on the intention to adopt CE in BD-mediated environments. The methodology is quantitative, cross-sectional with a descriptive correlational approach, based on the theory of planned behavior and a Partial Least Squares Structural Equation Model (PLS-SEM). A total of 413 Colombian service SMEs participated in the study. The results show that managers' attitudes, subjective norms, and perceived norms of behavior positively influence the intentions of organizations to implement CB best practices. Furthermore, most organizations have positive intentions toward CE and that these intentions positively influence the adoption of DB; however, the lack of government support and cultural barriers are perceived as the main limitation for its adoption. The research leads to the conclusion that BD helps business and government develop strategies to move toward CE, and that there is a clear positive will and intent toward a more restorative and sustainable corporate strategy.

Digital financial inclusion: A gateway to sustainable development

The covid-19 pandemic revolutionises digital financial services, and hence digital financial inclusion is essential to ensure everyone can access digital financial services and thus promote sustainable economic growth. The development and activities promoting digital financial inclusion must align and help attain 2030 Sustainable Development Goals (SDGs). While the pandemic is anticipated to increase the usage of digital financial services, it has also created challenges for certain countries. Hence, a systematic literature review explores digital financial inclusion across countries. This research finds that developing countries, mainly Asian countries, embrace and improve digital financial inclusion to help reduce poverty. However, the results indicate that in developing countries, a persistent divide exists between gender, the wealthy and the poor, and urban and rural areas regarding access to and usage of digital financial services. At the end of the study, we propose a few recommendations, focusing on improving digital infrastructure, simplifying the complicated banking procedures, and stressing the importance of financial education, enabling the smooth implication of digital financial inclusion across countries.

Investigating antecedents of mobile payment systems’ decision-making: a mediated model

Purpose

The increase in mobile telephone penetration has offered new opportunities for technology to improve payment operations all over the world. Little research has examined the issues related to the decision-making (DM) of mobile payment systems usage in the Jordanian context. The purpose of this study is to examine the factors that may have an influence on the adoption of mobile payment systems. This study has empirically tested the expanded unified theory of acceptance and use of technology (UTAUT2) together with awareness (AW), trust (TR), security (SE) and privacy (PR) as independent variables to explain the mobile payment system adoption in Jordan.

Design/methodology/approach

In total, 270 employees participated in a field survey questionnaire from the public sector in Amman city, the capital city of Jordan. Data were analyzed through a quantitative approach of partial least squares–structural equation modeling.

Findings

The results mainly showed that the determinants of DM to use mobile payment system are price value, social influence, performance expectancy, AW and TR. All of these determinants explained 60.2% of the variation of DM. In total, 72.2% has been explained as the TR to use m-payment system by SE and PR. Furthermore, the results revealed that TR mediates the association between SE as well as PR and the DM to use mobile payment system.

Originality/value

Interestingly, these new variables were found to be important and contribute to the UTAUT2 model. Consequently, the decision-makers in the Central Bank of Jordan should consider all these factors when re-upgrading a Jordan Mobile Payment system in the near future.

Factors Influencing the Adoption of Big Data Analytics in the Digital Transformation Era: Case Study of Jordanian SMEs

Big data (BD) analytics has been increasingly gaining attraction in both practice and theory in light of its opportunities, barriers and expected benefits. In particular, emerging economics view big data analytics as having great importance despite the fact that it has been in a constant struggle with the barriers that prevent its adoption. Thus, this study primarily attempted to determine the drivers of big data analytics in the context of a developing economy, Jordan. The study examined the influence of technological, organizational and environmental factors on big data adoption in the Jordanian SMEs context, using PLS-SEM for the analysis. The empirical results revealed that the relative advantage, complexity, security, top management support, organizational readiness and government support influence the adoption of BD, whilst pressure of competition and compatibility appeared to be of insignificant influence. The findings are expected to contribute to enterprise management and strategic use of data analytics in the present dynamic market environment, for both researcher and practitioner circles concerned with the adoption of big data in developing countries.

Sustainable FinTech Innovation Orientation: A Moderated Model

Financial technology (otherwise known as FinTech) refers to a type of technology and innovation that tries to improve and automate the delivery and use of financial services. Despite the importance of this technology in people’s financial transactions in improving the management of their financial operations, processes, and lives, there is a lack of empirical evidence about sustainable FinTech services in the Jordanian context. Consequently, this research examines the factors that influence the acceptance of FinTech services, which have a variety of social, environmental, and ecological benefits. This study proposes an integrated model by combining the extended technology acceptance model (TAM) with the perceived enjoyment as an independent variable and electronic word of mouth (eWOM) as a moderator variable simultaneously. A total of 304 responses from Jordanian citizens were analyzed by the quantitative method of partial least squares structural equation modelling (PLS-SEM). The result confirmed that perceived usefulness and perceived enjoyment have a significant and positive influence on users’ decision to use FinTech services. Meanwhile, eWOM is found to moderate the relationship between perceived usefulness and Jordanians’ decisions to use FinTech services. Finally, this study provides practical implications for managers to encourage them to provide adequate, reliable, and sustainable services to their customers at a reasonable cost that fit their demands and ultimately improve their living standards. Current study limitations and future research directions are presented in the last section.

The Use of Mobile Payment Systems in Post-COVID-19 Economic Recovery: Primary Research on an Emerging Market for Experience Goods

This study investigated whether mobile payment services could drive post-COVID-19 pandemic recovery in the ‘experience goods’ sector (e.g., tourism) utilising Bandura’s self-efficacy or social cognitive theory. It explored the factors influencing the intention to continue using mobile payment services and the intention to recommend these to others. An empirical survey was conducted to assess the study variables, and the data obtained therefrom were analysed using the industry-standard Cross-Industry Standard Process for Data Mining method. The study results suggest that personal innovativeness and perceived trust influence consumers’ intention to continue using mobile payment services and that perceived trust, personal innovativeness and outcome expectancy influence consumers’ intention to recommend the use of such services to others. The research findings have filled a research gap in emerging markets and can serve as the basis for formulating a winning marketing and operational strategy for nascent technologies such as mobile payment services. It would be naïve to extract findings from mature markets such as East Asia, the European Union and the United States and to apply these to developing markets. In addition, this study’s investigation of the variables that can influence the intention to continue using mobile payment services and to recommend the use of these to others goes into the heart of the sustainability issue because the study’s findings can help mobile payment service providers sustain the use of their applications and thus also sustain the advantages as such.

Financial Inclusion Paradigm Shift in the Postpandemic Period. Digital-Divide and Gender Gap

Financial inclusion is strongly differentiated by age groups and countries and the pandemic has highlighted the increased gaps and inequalities but also the weaknesses of the system, in terms of flexibility, access and facilities of the customer-bank relationship and also from the perspective of the financial education of young generations and vulnerable people, active in the labor market. Based on the available data provided by the Global Findex database, and some findings after more than one year of COVID-19 crisis we outlined the main aspects of financial digitization, by categories of people and countries. At the same time, we identified the challenges and problems during the pandemic that significantly adjusted the consumption pattern of citizens and increased the need for on-line access for financial transactions. Starting from the analysis of the inequality of access to financial instruments in the last years, from the informational asymmetry in financial education and the challenges of the pandemic period, we underlined the main coordinates of changing the model of sustainable financial inclusion-based on five pillars-access, education, support tools, CSR and resilience. The research results highlight the need for convergence in providing opportunities to consider financial inclusion as a public good and an active tool to increase consumers' satisfaction and the quality of life of individuals.

Toward a Unified Theory of Customer Continuance Model for Financial Technology Chatbots

With the popularity of financial technology (fintech) chatbots equipped with artificial intelligence, understanding the user's response mechanism can help bankers formulate precise marketing strategies, which is a crucial issue in the social science field. Nevertheless, the user's response mechanism towards financial technology chatbots has been relatively under-investigated. To fill these literature gaps, latent growth curve modeling was adopted by the present research to survey Taiwanese users of fintech chatbots. The present study proposed a customer continuance model to predict continuance intention for fintech chatbots and that cognitive and emotional dimensions positively influence the growth in a user's attitude toward fintech chatbots, which in turn, positively influences continuance intention over time. In total, 401 customers of fintech chatbots were surveyed through three time points to examine the relationship between these variables over six months. The results support the theoretical model of this research and can advance the literature of fintech chatbots and the information technology adoption model.