Fintech's transformative power in paving the path to sustainable development: Perspective from the Jordanian context

Abstract

By making it possible for many social groups to use digital services, the convergence of financial technology and sustainable development has grown into a major paradigm in the global economic environment. This paper examines how fintech has revolutionized the promotion of sustainable development, putting particular emphasis on the context of Jordan. This paper analyzes how fintech is altering financial systems to encourage social, economic, and environmental sustainability through a thorough analysis of existing literature and empirical evidence. The study used a questionnaire with 20 items as a tool and relied on an analytical descriptive approach. Then the questionnaire was analyzed to test the hypothesis of the study, bearing in mind that the problem was to shed light on how financial technology contributes to achieving the goals of sustainable development. The outcomes of this study, which indicate that financial technology significantly impacts sustainable growth, illustrate the potential of fintech to function as a driving force behind sustainable development. The findings are also beneficial for financial institutions, companies, and policymakers that attempt to employ fintech to support socioeconomic development while navigating the difficulties of a rapidly evolving technological environment.