FinTech-Driven Transformation of Financial Management: Evaluating Digital Innovation, Risk Management, and Strategic Decision-Making (OpenAlex (recherche mondiale))

Summary

• The World Bank Firm Adoption of Technology Survey analytical dataset for India comprises 1,519 establishments and 987 variables.p.7
• Among surveyed establishments, online/electronic payments had a weighted adoption rate of 66.8%, online/platform payments was 64.2%, and card payments was 59.1%.p.10
• Adoption of higher-level administrative technologies was lower, with 22.1% using specialized business software, 19.4% using business-administration digital platforms, and 10.9% using ERP systems.p.10
• Regression analysis shows a one-standard-deviation increase in FinTech adoption is associated with an increase of 0.0319 in annualized sales growth.p.13

Key insights

1. FinTech adoption shows strong positive links with digital financial-management capability, broader digital innovation, and strategic decision-making in Indian firms.p.1
2. Cryptocurrency payment adoption was recorded at 0.0% among the surveyed establishments.p.10
3. Firms adopting all three FinTech payment types achieved a digital financial-management capability score of 21.42 compared to 8.74 for non-adopters.p.11
4. FinTech adoption is positively associated with financial-risk exposure, driven specifically by credit constraints.p.12
5. A one standard-deviation increase in FinTech adoption corresponds to an 11.8 percentage point increase in the likelihood of experiencing credit constraints.p.13
6. Financial-risk exposure exhibits a statistically significant negative association with log labor productivity (β = -0.2396).p.13
7. Variance inflation factor diagnostics confirmed the absence of multicollinearity issues, with digital innovation showing the highest VIF at 2.96.p.14