Fintech Adoption and Sustainable Supply Chain Performance in GCC Markets

Organizations are increasingly adopting financial technology (Fintech) solutions to improve the sustainability of their supply chain. The purpose of this chapter is to uncover the relationship between Fintech adoption and sustainable supply chain performance in the context of the Gulf Cooperation Council (GCC). This transition is even more significant in the GCC countries that are confronted with multifaceted environmental challenges including water scarcity, desertification, and air pollution. As a result of these challenges, companies operating in GCC countries have adopted sustainable supply chain practices to reduce environmental effects and manage the uncertainties associated with the environment. In addition, the advancement in technological infrastructure such as robust Internet connectivity and hand-held device penetration has further fueled the rise of digital banking, robo-advisors, and mobile payments. The financial institutions in these regions, to address these evolving needs of consumers, are adopting digital transformation and partnering with Fintech innovation. The findings in this chapter (derived from relevant literature and reports) indicate that Fintech adoption has a direct and significant impact on the sustainable supply chain performance of firms in GCC markets. Therefore, the convergence of technological innovation and environmental sustainability together delivers opportunities for holistic development and inclusive growth in the GCC markets. Hence, this chapter enhances our understanding of Fintech and sustainability in GCC supply chains. Researchers, policymakers, and practitioners seeking to enhance sustainable performance in GCC markets within the competitive business landscape can benefit from the findings of this study. However, the GCC markets are still facing challenges in the adoption of Fintech solutions to ensure sustainable practices which emphasizes the quest for further research in this area.