Abstract:

The surge in popularity and adoption of financial innovations has led to a substantial effect on financial inclusion. The financial services sector, especially banks has played a role in this cutting-edge initiative in a number of economies. While financial technology has greatly benefited the banking sector in advanced economies like the United States, China, and the United Kingdom, the same may not be the case in Africa. Using the PRISMA method, this study employs a meta-analysis-powered systematic review of contemporary and relevant literature that has evaluated the relevance of financial technologies on the performance, profitability, and growth of banks in Africa. This research makes use of key parameters for the assessment of FinTech and extracts key insights concerning determinants of the Performance of banks examined by these empirical studies. Fourteen articles were successfully harvested and reviewed from three high-impact journal database outlets in Web of Science, Science Direct and Scopus, covering ten years (January 2014 to April 2024). The Findings from the review study showed that financial technology has a positive influence on the performance of banks in Africa.