The FinTech Evolution and Its Effect on Traditional Banking in Africa—A Case of Zambia

The popularization of FinTechs has sparked new competition for banks as are said to be more convenient, efficient and faster unlike bureaucratic requirements financial institutions such banks. aim this study was assess the factors leading adoption FinTech services how affects traditional banking in Zambia. objectives were evaluate influencing develop strategies that can help remain relevant competitive. adopted a quantitative research approach collect data through self-administered questionnaires. sample size arrived at using Cochran formula. respondents selected based on convenient sampling technique which is non-probability method. diffusion innovation theory whose variables used come up with hypotheses. collected questionnaires analyzed Pearson Correlation SPSS software. Results indicated strong positive correlation 0.450 between relative advantage adoption. Further, shows there 0.621 Compatibility Adoption. proposes revised model affecting an might