Development of an interpretive structural model (ISM) for the implementation of fintech in the banking industry

Abstract

The advent of cutting-edge technologies coupled with customer’s demand for safe and more user-friendly banking experience has led the banks and financial services to readily adoption of FinTech finance technology. Although the Fintec issue is heavily influenced by financial institutions around the world, there are only a few studies on how banks should draw a framework for the integration of phonetic. The purpose of this research is to formulate an interpretive structural model of Fintech implementation in the country's banking industry. In this study, using the Grounded Theory method of the foundation of 30 sub-components and 7 main components affecting the implementation of phinetics in the banking industry, then the relationship between these components was identified using the structural interpretive modeling method (ISM). Finally, using the MICMAC analysis of the types of components, according to the effectiveness and effectiveness on the implementation of the phinetics, it was divided into four levels. In order to implement the phinetics, the requirement of the components of upstream documents and decisions as the cornerstone of this industry is Pay special attention.