Analysing Differences in Financially Inclusive Behaviour Among Omani and Indian Banking Customers: A Multigroup Analysis Approach

Abstract

The purpose of the study is to investigate the country-wise differences in the effect of the FinTech adoption and financially Inclusive behaviour. The study employs single cross sectional research design whereby the data was collected from Indian and Omani participants. The data collected drive has resulted in 739 overall responses. The data from India and Oman encompasses 454 and 285 responses. The findings of the current study indicate a significant cross-country difference in the factors influencing FinTech adoption and financially inclusive behavior between India and Oman.  Personal financial complexity was recorded to be a strong predictor of FinTech adoption in India but was non-significant in Oman. Personal financial complexity significantly influenced FIB in India but had a negative and non-significant effect in Oman. Financial worry increased FinTech use and FIB in India but decreased similar behaviours in Oman. Religiosity played a stronger role in influencing FinTech adoption and FIB in Oman compared to India. Personal financial planning significantly influenced both FinTech adoption and FIB in both countries. The current study contributes to the existing body of literature of financial inclusion by incorporating the effect of personal financial complexity and planning. the current study offers a comprehensive evidence to the subject. It further gives an extensive agenda for future research.