Financial Technology (Fintech) Adoption and Operational Efficiency of Entrepreneurial Ventures in Oyo State, Nigeria

Authors

  • Akintunde Aremu AKINTAYO Department of Entrepreneurial Studies, Osun State University, Osogbo.
  • Kayode Muhammed IBRAHIM Department of Entrepreneurship, Federal University of Agriculture and Development Studies, Iragbiji, Osun State, Nigeria
  • Nureni Adekunle LAWAL Department of Entrepreneurial Studies, Osun State University, Osogbo.
  • Adesina YUSUFF Department of Entrepreneurship, Federal University of Agriculture and Development Studies, Iragbiji, Osun State, Nigeria
  • Marvellous Adetola OYEKAN Department of Entrepreneurial Studies, Osun State University, Osogbo.
  • Enitan Akanbi ALADABA Department of Entrepreneurial Studies, Osun State University, Osogbo.

DOI:

https://doi.org/10.57233/gijmss.v9i1.03

Keywords:

Financial Technology (fintech), Operational Efficiency, Entrepreneurial Ventures, Mobile Payment Technology

Abstract

This paper examined the influence of financial technology (FinTech) adoption on operational efficiency of entrepreneurial ventures in Ibadan metropolis, Oyo State, Nigeria. The three main dimensions of FinTech (i.e., mobile banking technology, digital payment systems, and online lending platforms) and their impact on operational efficiency indicators were specifically studied. A quantitative research design was chosen and multiple linear regression was used to analyse data in order to examine the relationship between FinTech adoption and operational efficiency. The results showed that FinTech has a significant impact on the efficiency of the operations of the entrepreneurial ventures. The regression model was statistically significant (F = 31.352, p < 0.001) and had an average level of explanatory power with an R2of 0.240 (Adjusted R-2 = 0.232), implying that FinTech variables accounted 24.0% of the change in operational efficiency. The research concluded that the adoption of FinTech is an important contributor to operational efficiency, although its impacts vary across digital financial instruments. The study recommended better digital infrastructure, greater entrepreneurial digital literacy, and better regulatory frameworks to realise the full potential of FinTech among SMEs in Nigeria.

Author Biographies

Akintunde Aremu AKINTAYO, Department of Entrepreneurial Studies, Osun State University, Osogbo.

Department of Entrepreneurial Studies, Osun State University, Osogbo.

Kayode Muhammed IBRAHIM, Department of Entrepreneurship, Federal University of Agriculture and Development Studies, Iragbiji, Osun State, Nigeria

Department of Entrepreneurship, Federal University of Agriculture and Development Studies, Iragbiji, Osun State, Nigeria

Nureni Adekunle LAWAL, Department of Entrepreneurial Studies, Osun State University, Osogbo.

Department of Entrepreneurial Studies, Osun State University, Osogbo.

Adesina YUSUFF, Department of Entrepreneurship, Federal University of Agriculture and Development Studies, Iragbiji, Osun State, Nigeria

Department of Entrepreneurship, Federal University of Agriculture and Development Studies, Iragbiji, Osun State, Nigeria

Marvellous Adetola OYEKAN, Department of Entrepreneurial Studies, Osun State University, Osogbo.

Department of Entrepreneurial Studies, Osun State University, Osogbo.

Enitan Akanbi ALADABA, Department of Entrepreneurial Studies, Osun State University, Osogbo.

Department of Entrepreneurial Studies, Osun State University, Osogbo.

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Published

2026-04-20

How to Cite

Aremu AKINTAYO, A. ., Muhammed IBRAHIM, K. ., Adekunle LAWAL, N., YUSUFF, A. ., Adetola OYEKAN, M. ., & Akanbi ALADABA, E. . (2026). Financial Technology (Fintech) Adoption and Operational Efficiency of Entrepreneurial Ventures in Oyo State, Nigeria. Gusau International Journal of Management and Social Sciences, 9(1), 38–57. https://doi.org/10.57233/gijmss.v9i1.03

Issue

Vol. 9 No. 1 (2026): Gusau International Journal of Management and Social Sciences

Section

Articles

License

Copyright (c) 2026 Akintunde Aremu AKINTAYO, Kayode Muhammed IBRAHIM, Nureni Adekunle LAWAL, Adesina YUSUFF, Marvellous Adetola OYEKAN, Enitan Akanbi ALADABA

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.