Identifying and investigating the factors affecting investment in new product development in the area of supervisory financial technologies (Case study of Tejarat Bank)

Document Type : Original Article

Authors
Soroush Motamedi fard
AMIR BAYAT TORK
Jalal Haghighat Monfared
Department of Technology Management, Tehran Branch, Islamic Azad University, Tehran, Iran
Abstract
Technological changes lead to new challenges and opportunities in various industries. The inability of organizations to adapt their business models to these changes may lead them to leave the market. The banking industry is no exception, and regulatory financial technologies are one of the most important technological trends in recent years. Concerning the widespread impact of these technologies on the banking industry, investment in regulatory financial technologies has a great importance. Therefore, identifying and investigating factors affecting investment in new product development in the field of financial technology with a supervisory approach is necessary. in order to implement the results of new research and to help solve such problems. The purpose of this research is applied and is a descriptive-survey method. Factors Influencing New Product Development Investment in Regulatory Financial Technologies Extracted from Literature Review and Opinion of Banking Industry Experts in Tejarat Bank and the approved questionnaire is distributed in the community of experts and the results are analyzed by confirmatory factor analysis and structural equations using Smart-PLS3 software. In this study, 4 main factors were identified and confirmed with 29 factors all of which are important. All key identified factors have a significant impact on investment in development of new financial technology products with a regulatory approach.
Keywords
Investment
New Product Development (NPD)
Regulatory Financial Technology (Regtech)
Innovation
R&D
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