Providing a model for evaluating the performance and position of banks based on the innovation of financial technology services (Fintech)

Document Type : Original Article


1 Faculty of Educational Sciences and Consulting, Islamic Azad University, Roudhan Branch, Iran

2 Professor, Department of Accounting and Finance, Islamic Azad University, Faculty of Science and Research, Iran founder and head of the Bazarsaz Financial Engineering and Investment Research Center.

3 Assistant Professor, Accounting, Faculty of Educational Sciences and Consulting, Islamic Azad University, Roudhan Branch, Iran



The present research aims to evaluate the performance of Iran's state banks based on FinTech innovation indexes. For realization of the research objectives, the opinions of 13 Central Bank experts and university professors were used until the theoretical saturation. Data analysis was done in three phases: identifying the factors affecting the evaluation of the performance and status of the banks based on the technology-enabled innovation in financial services (FinTech) through interviews and using thematic analysis method, determining the degree of importance of the components through the questionnaire and Shannon's entropy method, and ranking the country's state banks through the questionnaire and MABAC method. The research findings indicated that 19 components identified in the qualitative phase obtained the highest degree of importance among the factors affecting the performance evaluation and status of banks based on the FinTech indexes. These components include as follows: employees’ training and learning, reforming the organizational structure, developing big data analysis, actively identifying customer needs, sharing financial data, developing smart investment management, alliance with financial peers, multi-faceted business strategies, application of blockchain technology, customer orientation, delivery of customized services, development of financial affairs, credit risk management, improving service efficiency, organizational innovation culture, enhancing digital marketing, increasing customer communication channels, new payment methods, and cooperation with traditional banks, respectively. Furthermore, Bank Melli, Bank of Agriculture, Sepah Bank, Maskan Bank, Post Bank, Export Development Bank, Bank of Industry and Mine, and Cooperative Development Bank, respectively, gained the highest priority among the state banks according to the 19 identified factors.


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