The impact of financial technology on the performance and development of the banking sector and their users experiences in Algeria

Abstract

The study aimed to determine the extent to which the Local Development Bank needs to keep pace with technological changes and developments and to determine the extent of the impact of financial technology on banking performance as well as on users. To achieve this study, a descriptive approach was followed, where two questionnaires were distributed randomly to 58 employees and users. The first was distributed to the bank’s employees and consisted of 16 items. The other questionnaire was distributed to users and consists of seven paragraphs. The results were then analyzed using the SPS statistical program. After applying the research tool, the results of the study showed that the use of technology had a positive impact on the financial performance of the Local Development Bank-Algeria Agency. The study also found that the use of financial technology had a positive impact on the user experience and that financial technology was also an effective competitive weapon to attract the largest number of customers. In light of the results of the study, a set of recommendations were presented, including: the Local Development Bank must adopt new financial innovations to maintain its position, and it must work to improve the information and communications technology infrastructure to allow institutions to rely on financial technology applications.