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Title:
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PERCEIVED IMPACT OF FINTECH PAYMENT PLATFORM ADOPTION ON THE COST EFFICIENCY OF SAVINGS AND LOANS COMPANIES IN GHANA |
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Author(s):
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Ofori Yaw Owusu and Dadson Awunyo-Vitor |
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ISBN:
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978-989-8704-73-3 |
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Editors:
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Adriana Backx Noronha Viana and Pedro Isaías |
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Year:
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2025 |
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Edition:
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Single |
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Keywords:
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Fintech Payment Platform, Savings and Loans Companies, Operational Cost Efficiency, Dynamic Capability Theory, Personnel Cost, Compliance and Regulatory Co |
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Type:
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Regular Paper |
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First Page:
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25 |
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Last Page:
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32 |
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Language:
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English |
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Cover:
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Full Contents:
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Paper Abstract:
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The study examined the perceived impact of FinTech payment platform adoption on the operational cost efficiency of Savings and Loans Companies in Ghana using deductive thematic analysis. Data were collected through semi-structured interviews from managers of Savings and Loans Companies. The results reveal that FinTech payment platforms contribute to long-term personnel cost efficiency despite initial increases in training and development costs. However, technology and IT costs have increased significantly due to platform integration, licensing, and maintenance, undermining cost efficiency in this area. Administrative costs remain largely unaffected, primarily due to limited internal digitisation. Compliance and regulatory costs are also unaffected, as regulatory requirements are embedded in the platforms before approval by the Bank of Ghana. This study contributes context-specific insights into the operational realities of FinTech payment platform adoption in Ghana's non-bank financial sector. |
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