The impact of FinTech on the efficiency of the bank’s activities

Abstract

FinTech is becoming an integral part of today’s modern world, integrating rapidly into an increasingly diverse sector without exception. In recent years, it can be noticed that the growing use of FinTech in the banking sector is gradually changing the activities of the traditional bank, the established habits of consumers. Therefore, the study aims to assess the impact of the chosen FinTech measures on the efficiency of the bank’s operations. The multi-criteria evaluation method COPRAS and linear regression analysis (SSPS program) were used to examine which FinTech products have the most significant impact. Fintech tools used by banks operating in Lithuania, Latvia, such as: mobile apps, online banking, ATMs, were selected for the study. The strength of the relationship between the selected FinTech products and the bank’s performance was determined using regression analysis: ROA, ROE. The study hypothesized that FinTech had a significant impact on the bank’s operational efficiency. However, the hypothesis raised in the study is rejected because the results suggest that FinTech does not significantly impact the bank’s operational efficiency, as the variables do not correlate with each other. The results of the research can help the bank’s representatives make the right decisions to ensure the efficient operation of the bank.