Fintech In Mauritius: A Disruptive Innovation?
Purpose - Most of the financial services sector in Mauritius are being touched by the huge wave of financial technologies as well as the life of Mauritians. The purpose of this paper is therefore to analyze the perception of professionals in Mauritius towards fintech products and services.
Design/Methodology/approach - Five hypotheses were defined based on factors such as awareness, impact, willingness to invest, prepared to invest and perception of fintech services and products. Interviews and questionnaires were done to collect data based on the above five factors. Using SPSS, statistics were run on the data collected and the hypotheses were analyzed. The data used nonparametric testing which was chosen because it did not follow a normal distribution.
Findings-We concluded that Mauritians are very much aware of fintech products and services. They are even willing to invest in those services provided that there are good opportunities. Reasons to that willingness to invest are first because firms want to stay in the competition and also to innovate to meet the demands of the clients. We also found that Mauritians lack the necessary expertise to further used fintech in their day to day activities. This a reason as to why firms are not really impacted and have not invested in fintech.