Drivers of Fintech Adoption in Vietnamese Banking: A Case Study of Vietnam International Bank

This study examines the drivers of fintech adoption in emerging market banks, with a focus on how established theories apply in contexts characterized by distinct regulatory, technological, and competitive conditions. Using the Technology–Organization–Environment (TOE) framework, a model with seven constructs—technological compatibility, regulatory environment, organizational readiness, customer acceptance, financial potential, competitive pressure, and risk/security management—was tested using survey data from 303 professionals at Vietnam International Bank (VIB). Factor and regression analyses indicate that all seven factors significantly influence adoption, with financial potential, risk, and security management, and organizational readiness as the strongest predictors. The model explains 86.1% of the variance in adoption decisions, confirming its robustness in emerging markets. These findings offer practical insights for stakeholders across the fintech ecosystem, informing strategic priorities for banking executives, regulatory approaches for policymakers, and product alignment for fintech developers in the context of digital transformation. Banking executives should prioritize developing a comprehensive financial business case, implementing robust risk management frameworks, and enhancing organizational capabilities when implementing fintech solutions. Policymakers benefit from understanding how regulatory clarity facilitates adoption, while fintech developers can align product offerings with identified organizational priorities. The findings provide evidence-based guidance for digital transformation strategies in emerging market banking contexts. This research contributes by (1) extending TOE to emerging market banking, (2) providing the first empirical study of fintech adoption in Vietnam’s banking sector, and (3) validating a comprehensive model for digital transformation in developing economies.