The role of financial innovations the (FinTech) in enhancing the quality of banking service: An analytical study of the Iraqi banking system

Abstract

The current research reviews two critical variables, namely financial innovations according to the FinTech and the quality of banking service, and these two variables are among the main pillars that help banks improve their performance, obtain more customers, and thus increase profitability.

The research aims to provide a set of methods and tools to help Iraqi banks develop their banking services according to the latest financial and technological innovations to achieve customer satisfaction.

The study population included the Iraqi banking system, for the period (2017-2021), and it relied on the data provided by the Central Bank of Iraq. It was analyzed quantitatively and statistically to test the hypotheses of the correlation and influence relationships between the study variables.

The most important conclusions of the study are that there are high levels of quality of banking service in most Iraqi banks because of their adoption of the latest technological innovations. The most important recommendations were the need for the supervisory authorities to pay attention to Iraqi banks in adopting more financial innovations and modern technology and providing tools that help in the development of the banking system by providing banking services according to the latest advanced technological methods