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Uncovering patterns of fintech behavior in Italian banks: A multidimensional statistical analysis

Author

Listed:
  • Drago, Carlo
  • Minnetti, Francesco
  • Di Nallo, Loris
  • Manzari, Alberto

Abstract

Fintech is changing the financial system and increasing the possibility of access to financial services. Considering the centrality of the banking world in providing financial services, this study aims to offer an analysis of banks' adoption of Fintech. Exploiting a sample of Italian listed banks, this study investigates their adoption of Fintech. Multiple correspondence analysis and hierarchical clustering classification are used to study Fintech factors in Italian banks, starting from significant variables highlighted by the literature: disclosure, financial investments, and collaborations in Sandboxes. Results show that different bank subgroups have specific Fintech features based on various structural characteristics. The implications are both academic and practical. On the one hand, we highlight how these measures make it possible to have homogeneous clusters. On the other hand, we have indications of policies and best practices.

Suggested Citation

  • Drago, Carlo & Minnetti, Francesco & Di Nallo, Loris & Manzari, Alberto, 2025. "Uncovering patterns of fintech behavior in Italian banks: A multidimensional statistical analysis," Research in International Business and Finance, Elsevier, vol. 73(PA).
    • Handle: RePEc:eee:riibaf:v:73:y:2025:i:pa:s027553192400391x
    DOI: 10.1016/j.ribaf.2024.102598
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    Keywords

    fintech; banks; financial system; multiple correspondence analysis; cluster analysis; tanglegrams;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • C39 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Other

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