Perceptions about FinTech: New evidences from the Middle East

Figures & data

Figure 1. Customers’ demands for financial services are categorized into segments for conventional technology and emerging ones.

Table A1. The distribution of the overall study sample according to their demographic characteristics

Variables	Items	Frequency	Percent
Gender	male	205	67.2
	female	100	32.8
Age	21–25	38	12.5
	26–35	83	27.2
	36–45	61	20
	46–60	106	34.8
	60 +	17	5.6
Nationality	Saudi	287	94.1
	non-Saudi	18	5.9
Educational level	High School	28	9.2
	Diploma	27	8.9
	Bachelor	168	55.1
	Master	57	18.7
	PHD	25	8.2
Are you working in financial institution	Yes	50	16.4
	No	255	83.6
Job level	none	57	18.7
	junior level	27	8.9
	intermediate level	85	27.9
	managerial level	136	44.6
Years of experience	0–5	83	27.2
	6–15	75	24.6
	16–20	38	12.5
	<20	109	35.7

Figure A1. The distribution of the overall study sample according to gender.

Figure A2. The distribution of the overall study sample according to age.

Figure A3. The distribution of the overall study sample according to nationality.

Figure A4. The distribution of the overall study sample according to education level.

Figure A5. the distribution of the overall study sample according to work in the financial institution.

Figure A6. The distribution of the overall study sample according to job level.

Figure A7. The distribution of the overall study sample according to years of experience.

Table A2. How does Fintech attract consumers to a specific financial institution?

Variables	Items	Frequency	Percent
What attract you to your current financial institution	Branching services	63	20.7
	Digital applications	126	41.3
	friends	23	7.5
	Families	46	15.1
	Institution market share	47	15.4
Did the financial institution Fintech campaign affect your decision in choosing the financial institution	yes	214	70.2
	no	91	29.8
If you answered with yes to the previous question. What Fintech campaign affect your decision	Answered No	91	29.8
	Social media	144	47.2
	Emails	10	3.3
	Websites	60	19.7
If you are an employee of financial institution what is the most preferable Fintech campaign to use in your company	Not An employee of financial institution	256	83.9
	Social Media	28	9.2
	Digital applications and websites	18	5.9
	Emails	3	1
As a consumer what is your favourite marketing tools	Emails	17	5.6
	Social media	219	71.8
	Websites	58	19
	None of the above	11	3.6

Table A3. Summary for Chi square test: At 5 % level of significance (0.05) Education Level

Parameters to measure			Demographic Profile			p-value			Comment
Reasons behind current financial Institutions			Education Level			0.003			p-value <0.05: Significant association
Reasons behind current financial Institutions			Job level			0			p-value <0.05: Significant association
Reasons behind current financial Institutions			Age			0.007			p-value <0.05: Significant association
Crosstab			Education Level
			What attract you to your current financial institution										Total
			Branching services		Digital applications			Family			Friends	Institution market share
Education Level	High School	Count	5		11			7			2	3	28
		% within Education Level	17.90%		39.30%			25.00%			7.10%	10.70%	100.00%
	Diploma	Count	8		6			8			1	4	27
		% within Education Level	29.60%		22.20%			29.60%			3.70%	14.80%	100.00%
	Bachelor	Count	34		70			24			16	24	168
		% within Education Level	20.20%		41.70%			14.30%			9.50%	14.30%	100.00%
	Master	Count	5		35			4			3	10	57
		% within Education Level	8.80%		61.40%			7.00%			5.30%	17.50%	100.00%
	PHD	Count	11		4			3			1	6	25
		% within Education Level	44.00%		16.00%			12.00%			4.00%	24.00%	100.00%
Crosstab			Education Level
			What attract you to your current financial institution										Total
			Branching services		Digital applications			Family			Friends	Institution market share
Total		Count	63		126			46			23	47	305
		% within Education Level	20.70%		41.30%			15.10%			7.50%	15.40%	100.00%
Chi-Square Tests
				Value			df			Asymp. Sig. (2-sided)
Pearson Chi-Square				35.955^a			16			0.003
Likelihood Ratio				35.774			16			0.003
Linear-by-Linear Association				0.005			1			0.943
N of Valid Cases				305

Figure A8. Characteristics of Participants, frequencies and percentages.

Table A4. Summary for Chi square test: At 5 % level of significance (0.05) Job level

Crosstab			Job level * What attract you to your current financial institution
			What attract you to your current financial institution								Total
			Branching services		Digital applications		Family		Friends	Institution market share
Job level	Junior level	Count	3		8		4		3	9	27
		% within Job level	11.10%		29.60%		14.80%		11.10%	33.30%	100.00%
	Intermediate level	Count	26		38		9		3	9	85
		% within Job level	30.60%		44.70%		10.60%		3.50%	10.60%	100.00%
	Managerial level	Count	23		65		13		11	24	136
		% within Job level	16.90%		47.80%		9.60%		8.10%	17.60%	100.00%
	None	Count	11		15		20		6	5	57
		% within Job level	19.30%		26.30%		35.10%		10.50%	8.80%	100.00%
Total		Count	63		126		46		23	47	305
		% within Job level	20.70%		41.30%		15.10%		7.50%	15.40%	100.00%
Chi-Square Tests
				Value		df		Asymp. Sig. (2-sided)
Pearson Chi-Square				42.836^a		12		0
Likelihood Ratio				38.831		12		0
Linear-by-Linear Association				0.013		1		0.908
N of Valid Cases				305

^a. 4 cells (20.0%) have expected count less than 5. The minimum expected count is 2.04.

Figure A9. Characteristics of Participants, frequencies and percentages.

Table A5. Summary for Chi square test: At 5 % level of significance (0.05) Age

Age * What attract you to your current financial institution Cross tabulation
			Branching services		Digital applications	Family			Friends	Institution market share	Total
Age	21–25	Count	5		11	9			5	8	38
		% Within Age	13.20%		28.90%	23.70%			13.20%	21.10%	100.00%
	26–35	Count	11		39	7			9	17	83
		% Within Age	13.30%		47.00%	8.40%			10.80%	20.50%	100.00%
	36–45	Count	11		33	7			4	6	61
		% Within Age	18.00%		54.10%	11.50%			6.60%	9.80%	100.00%
	46–60	Count	32		39	17			5	13	106
		% Within Age	30.20%		36.80%	16.00%			4.70%	12.30%	100.00%
	60	Count	4		4	6			0	3	17
		% Within Age	23.50%		23.50%	35.30%			0.00%	17.60%	100.00%
Total		Count	63		126	46			23	47	305
		% Within Age	20.70%		41.30%	15.10%			7.50%	15.40%	100.00%
Chi-Square Tests
				Value			df	Asymp. Sig. (2-sided)
Pearson Chi-Square				33.364^a			16	0.007
Likelihood Ratio				33.447			16	0.006
Linear-by-Linear Association				7.799			1	0.005
N of Valid Cases				305

^a. 6 cells (24.0%) have expected count less than 5. The minimum expected count is 1.28.

Figure A10. Characteristics of Participants, frequencies and percentages.