The Fintech Frontier- The Impact of Digital Banking on Palestine’s Financial Future
Date
2025-02-28
Authors
Bayyoud Mohammed
Barakat Firas
Sayyad Nermeen
Journal Title
Journal ISSN
Volume Title
Publisher
Journal of Economics, Finance and Management Studies (JEFMS)
Abstract
: Technologies has the capacity to improve financial inclusion and provide access to financial services in Palestine. The
study examines mobile phone ownership, internet accessibility, and FinTech literacy as factors influencing digital banking adoption
in Palestine, employing logistic regression, chi-square tests, and random forest classifiers. The logistic regression model indicates
that mobile phone owners and internet users are more inclined to utilize digital banking services. Financial literacy and consumer
education are essential for FinTech adoption, as is awareness. The Chi-Square test reveals no significant correlation between
digital banking usage and geographic region, indicating that location does not substantially influence adoption. The Random Forest
model effectively predicts digital banking adoption across three consumer segments: early adopters with high technological
access, moderately educated users with limited internet connectivity, and individuals with low digital literacy and technology
access. The report advocates for policies aimed at enhancing mobile phone accessibility, internet infrastructure, and financial
literacy to foster inclusive digital banking in Palestine. In summary, while digital banking holds the potential to transform
Palestinian financial services, it must address technical, educational, and regulatory challenges. This research provides
policymakers, financial institutions, and regulators with actionable insights to enhance financial inclusion and the advancement
of digital banking in Palestine
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Citation
Bayyoud, M., Barakat, F. S. Q., & Sayyad, N. A. (2025). The fintech frontier: The impact of digital banking on Palestine’s financial future. Journal of Economics, Finance and Management Studies (JEFMS), 8(2), 908–926. https://doi.org/10.47191/jefms/v8-i2-17