Adoption of Financial Technology Services in Albania: Key Factors Influencing Customer Behavioral Intention

Abstract

This study explores the key factors influencing the adoption of FinTech services among consumers in Albania. As financial technology continues to reshape the global financial landscape, understanding user behavior in emerging markets is vital. Drawing upon the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2), Trust Theory, and Perceived Risk Theory, this research examines how constructs such as performance expectancy, effort expectancy, social influence, facilitating conditions, trust, and perceived risk affect users’ behavioral intention to adopt FinTech services. A structured questionnaire was distributed to a diverse sample of Albanian consumers, and data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results reveal that performance expectancy, social influence, facilitating conditions, and trust have significant positive effects on behavioral intention, while perceived risk negatively impacts it. Effort expectancy showed a limited effect, suggesting that ease of use is no longer a primary concern among digitally experienced users. This research contributes to the limited body of literature on FinTech adoption in the Albanian context and provides practical insights for FinTech providers, policymakers, and financial institutions aiming to enhance customer acceptance. The findings highlight the importance of building trust and minimizing perceived risk to promote greater adoption of financial technologies in Albania.