EFFECT OF FINANCIAL TECHNOLOGY (FINTECH) ON BANKING SECTOR PERFORMANCE IN NIGERIA

Authors

  • Funso Tajudeen KOLAPO Department of Finance, Faculty of Management Sciences, Ekiti State University, Ado-Ekiti
  • Odunayo Femi OGUNSANWO Department of Finance, Faculty of Management Sciences, Federal University Oye-Ekiti, Ekiti State
  • Samson Oluwole OLOWO Department of Economics, Account and Finance, College of Management Sciences, Bells University of Technology, Ota, Ogun State, Nigeria

Keywords:

Fintech, Fintech innovations, Banking sector, Bank performance, Nigeria

Abstract

This study empirically examined the effect of financial technology (Fintech) on bank performance in Nigeria for
the period of 2015-2025. To be more precise, the research looked at how point of sale (POS) and mobile banking
(MOB) affected Nigerian banks' performance. The research concentrated on First Bank, UBA, GTCO, Access,
and Zenith, which are together referred to as FUGAZ, the first-tier banks by total assets. The CBN statistics
bulletin and the annual financial statements of banks are the sources of data on return on asset (a financial
performance variable), point of sale, and mobile banking (a financial technology variable). Point of sale has a
positive and substantial impact on the return on asset of Nigerian banks (β = 0.359756, p < 0.05), according to
the panel random effect analysis that was used to estimate panel regression analysis. Additionally, the results
demonstrated that mobile banking significantly and favourably affects Nigerian banks' return on assets (β =
0.014960, p < 0.05). The study's conclusions suggest that financial technology significantly and favourably affects
Nigerian banks' financial performance.

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Published

2026-01-30

Issue

Vol. 4 No. 1 (2026): JANUARY

Section

Articles