{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,7]],"date-time":"2026-04-07T00:33:50Z","timestamp":1775522030884,"version":"3.50.1"},"reference-count":51,"publisher":"MDPI AG","issue":"5","license":[{"start":{"date-parts":[[2022,9,8]],"date-time":"2022-09-08T00:00:00Z","timestamp":1662595200000},"content-version":"vor","delay-in-days":0,"URL":"https:\/\/creativecommons.org\/licenses\/by\/4.0\/"}],"funder":[{"name":"Key Project of the National Social Science Foundation of China","award":["20AJY015"],"award-info":[{"award-number":["20AJY015"]}]},{"name":"Key Project of the National Social Science Foundation of China","award":["300102341667"],"award-info":[{"award-number":["300102341667"]}]},{"name":"The Fundamental Research Funds for the Central Universities","award":["20AJY015"],"award-info":[{"award-number":["20AJY015"]}]},{"name":"The Fundamental Research Funds for the Central Universities","award":["300102341667"],"award-info":[{"award-number":["300102341667"]}]}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["Systems"],"abstract":"<jats:p>This study aims to examine the effect of FinTech adoption on the sustainability performance of banking institutions in an emerging economy such as Bangladesh. Besides, this study also investigates the mediating role of green finance and green innovation in the relationship between FinTech adoption and sustainability performance. To examine the relationship among the study variables, this study used data from 351 employees of banking institutions operating in Bangladesh during the period January to March 2021 using a convenience sampling method. Furthermore, the study utilized a two-staged structural equation modeling and an artificial neural network (SEM-ANN) approach to analyze the data. The findings show that FinTech adoption significantly influences green finance, green innovation, and sustainability performance. Similarly, the results indicate that green finance and green innovation have a significant positive influence on sustainability performance. Furthermore, the results reveal that green finance and green innovation fully mediate the relationship between FinTech adoption and the sustainability performance of banking institutions. Moreover, the present study contributes to the existing literature on technological innovation, green finance, and sustainability performance greatly as it is the first study to examine both linear and non-linear relationships among these variables using the SEM-ANN approach. As a result, the study highlights the importance of FinTech adoption, green finance, and innovation in the attainment of sustainability performance, as well as the urgent need to incorporate new technologies, green initiatives, and financing into banking strategies to help achieve the country\u2019s sustainable economic development.<\/jats:p>","DOI":"10.3390\/systems10050148","type":"journal-article","created":{"date-parts":[[2022,9,8]],"date-time":"2022-09-08T09:51:09Z","timestamp":1662630669000},"page":"148","update-policy":"https:\/\/doi.org\/10.3390\/mdpi_crossmark_policy","source":"Crossref","is-referenced-by-count":120,"title":["A Two-Staged SEM-Artificial Neural Network Approach to Analyze the Impact of FinTech Adoption on the Sustainability Performance of Banking Firms: The Mediating Effect of Green Finance and Innovation"],"prefix":"10.3390","volume":"10","author":[{"given":"Chen","family":"Yan","sequence":"first","affiliation":[{"name":"School of Economics and Management, Chang\u2019an University, Xi\u2019an 710064, China"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-3953-198X","authenticated-orcid":false,"given":"Abu Bakkar","family":"Siddik","sequence":"additional","affiliation":[{"name":"School of Management, University of Science and Technology of China (USTC), Jinzhai Road, Hefei 230026, China"}]},{"given":"Li","family":"Yong","sequence":"additional","affiliation":[{"name":"School of Management, University of Science and Technology of China (USTC), Jinzhai Road, Hefei 230026, China"}]},{"given":"Qianli","family":"Dong","sequence":"additional","affiliation":[{"name":"School of Economics and Management, Chang\u2019an University, Xi\u2019an 710064, China"}]},{"given":"Guang-Wen","family":"Zheng","sequence":"additional","affiliation":[{"name":"School of Economics and Management, Shaanxi University of Science and Technology (SUST), Xi\u2019an 710021, China"}]},{"ORCID":"https:\/\/orcid.org\/0000-0003-1556-5488","authenticated-orcid":false,"given":"Md Nafizur","family":"Rahman","sequence":"additional","affiliation":[{"name":"Department of Business Administration in Finance & Banking, Bangladesh University of Professionals, Mirpur Cantonment, Dhaka 1216, Bangladesh"}]}],"member":"1968","published-online":{"date-parts":[[2022,9,8]]},"reference":[{"key":"ref_1","doi-asserted-by":"crossref","unstructured":"Zheng, G., Siddik, A.B., Masukujjaman, M., and Fatema, N. (2021). Factors Affecting the Sustainability Performance of Financial Institutions in Bangladesh: The Role of Green Finance. Sustainability, 13.","DOI":"10.3390\/su131810165"},{"key":"ref_2","doi-asserted-by":"crossref","first-page":"890096","DOI":"10.3389\/fenvs.2022.890096","article-title":"Do Corporate Social Responsibility Practices and Green Finance Dimensions Determine Environmental Performance? An Empirical Study on Bangladeshi Banking Institutions","volume":"10","author":"Siddik","year":"2022","journal-title":"Front. Environ. Sci."},{"key":"ref_3","doi-asserted-by":"crossref","unstructured":"Nassiry, D. (2019). The Role of Fintech in Unlocking Green Finance\u2014Policy Insights for Developing Countries, Asian Development Bank Institute. ADBI Working Paper 883.","DOI":"10.1007\/978-981-10-8710-3_27-1"},{"key":"ref_4","doi-asserted-by":"crossref","unstructured":"Siddik, A.B., and Zheng, G. (2021). Green Finance during the COVID-19 Pandemic and Beyond: Implications for Green Economic Recovery. Preprints.","DOI":"10.20944\/preprints202108.0215.v2"},{"key":"ref_5","doi-asserted-by":"crossref","unstructured":"Chen, J., Siddik, A.B., Zheng, G.-W., Masukujjaman, M., and Bekhzod, S. (2022). The Effect of Green Banking Practices on Banks\u2019 Environmental Performance and Green Financing: An Empirical Study. Energies, 15.","DOI":"10.3390\/en15041292"},{"key":"ref_6","first-page":"14","article-title":"Sustainability Reporting on Green Financing: A Study of Listed Private Sustainability Reporting on Green Financing: A Study of Listed Private Commercial Banks in Bangladesh","volume":"XII","author":"Akter","year":"2018","journal-title":"J. Bus. Technol."},{"key":"ref_7","doi-asserted-by":"crossref","first-page":"297","DOI":"10.1108\/CFRI-03-2021-0048","article-title":"Role of green financing and corporate social responsibility (CSR) in technological innovation and corporate environmental performance: A COVID-19 perspective","volume":"12","author":"Awawdeh","year":"2022","journal-title":"China Finance Rev. Int."},{"key":"ref_8","doi-asserted-by":"crossref","first-page":"120262","DOI":"10.1016\/j.techfore.2020.120262","article-title":"Corporate social responsibility and environmental performance: The mediating role of environmental strategy and green innovation","volume":"160","author":"Kraus","year":"2020","journal-title":"Technol. Forecast. Soc. Change"},{"key":"ref_9","doi-asserted-by":"crossref","unstructured":"Dorfleitner, G., Hornuf, L., Schmitt, M., and Weber, M. (2017). Definition of FinTech and description of the FinTech industry. FinTech in Germany, Springer.","DOI":"10.1007\/978-3-319-54666-7"},{"key":"ref_10","first-page":"130","article-title":"Role of FinTech Adoption for Competitiveness and Performance of the Bank: A Study of Banking Industry in UAE","volume":"16","author":"Dwivedi","year":"2021","journal-title":"Int. J. Glob. Bus. Compet."},{"key":"ref_11","doi-asserted-by":"crossref","unstructured":"Zheng, G.W., Siddik, A.B., Masukujjaman, M., Fatema, N., and Alam, S.S. (2021). Green finance development in Bangladesh: The role of private commercial banks (PCBs). Sustainability, 13.","DOI":"10.3390\/su13020795"},{"key":"ref_12","doi-asserted-by":"crossref","first-page":"120124","DOI":"10.1016\/j.techfore.2020.120124","article-title":"Uncovering trajectories and impact factors of CO2 emissions: A sectoral and spatially disaggregated revisit in Beijing","volume":"158","author":"Li","year":"2020","journal-title":"Technol. Forecast. Soc. Change"},{"key":"ref_13","doi-asserted-by":"crossref","unstructured":"Zhang, X., Wang, Z., Zhong, X., Yang, S., and Siddik, A.B. (2022). Do Green Banking Activities Improve the Banks\u2019 Environmental Performance? The Mediating Effect of Green Financing. Sustainability, 14.","DOI":"10.3390\/su14020989"},{"key":"ref_14","doi-asserted-by":"crossref","first-page":"1960120","DOI":"10.1080\/23311975.2021.1960120","article-title":"Social responsibility investment on sustainable The role of green investment and corporate social responsibility investment on sustainable performance","volume":"8","author":"Indriastuti","year":"2021","journal-title":"Cogent Bus. Manag."},{"key":"ref_15","doi-asserted-by":"crossref","first-page":"121574","DOI":"10.1016\/j.jclepro.2020.121574","article-title":"Asymmetric impacts of the policy and development of green credit on the debt financing cost and maturity of different types of enterprises in China","volume":"264","author":"Xu","year":"2020","journal-title":"J. Clean. Prod."},{"key":"ref_16","doi-asserted-by":"crossref","first-page":"263","DOI":"10.1007\/s10651-021-00483-7","article-title":"The measurement of green finance index and the development forecast of green finance in China","volume":"28","author":"Wang","year":"2021","journal-title":"Environ. Ecol. Stat."},{"key":"ref_17","doi-asserted-by":"crossref","unstructured":"Al Nawayseh, M.K. (2020). Fintech in COVID-19 and beyond: What factors are affecting customers\u2019 choice of fintech applications?. J. Open Innov. Technol. Mark. Complex., 6.","DOI":"10.3390\/joitmc6040153"},{"key":"ref_18","doi-asserted-by":"crossref","unstructured":"Yan, C., Siddik, A.B., Akter, N., and Dong, Q. (2021). Factors influencing the adoption intention of using mobile financial service during the COVID-19 pandemic: The role of FinTech. Environ. Sci. Pollut. Res.","DOI":"10.1007\/s11356-021-17437-y"},{"key":"ref_19","doi-asserted-by":"crossref","first-page":"78","DOI":"10.1504\/IJIL.2019.096553","article-title":"The teaching of innovation and environmental sustainability and its relationship with entrepreneurship in Southern Brazil","volume":"25","author":"Severo","year":"2019","journal-title":"Int. J. Innov. Learn."},{"key":"ref_20","doi-asserted-by":"crossref","first-page":"733349","DOI":"10.3389\/fenvs.2021.733349","article-title":"Does Environmental Policy Promote Energy Efficiency? Evidence from China in the Context of Developing Green Finance","volume":"9","author":"Peng","year":"2021","journal-title":"Front. Environ. Sci."},{"key":"ref_21","doi-asserted-by":"crossref","first-page":"106004","DOI":"10.1016\/j.eneco.2022.106004","article-title":"Environmental performance, green finance and green innovation: What\u2019s the long-run relationships among variables?","volume":"110","author":"Wang","year":"2022","journal-title":"Energy Econ."},{"key":"ref_22","doi-asserted-by":"crossref","unstructured":"Xiong, Q., and Sun, D. (2022). Influence analysis of green finance development impact on carbon emissions: An exploratory study based on fsQCA. Environ. Sci. Pollut. Res.","DOI":"10.1007\/s11356-021-18351-z"},{"key":"ref_23","doi-asserted-by":"crossref","unstructured":"Xu, H., Mei, Q., Shahzad, F., Liu, S., Long, X., and Zhang, J. (2020). Untangling the Impact of Green Finance on the Enterprise Green Performance: A Meta-Analytic Approach. Sustainability, 12.","DOI":"10.3390\/su12219085"},{"key":"ref_24","doi-asserted-by":"crossref","first-page":"100231","DOI":"10.1016\/j.jik.2022.100231","article-title":"Adoption of green innovation technology to accelerate sustainable development among manufacturing industry","volume":"7","author":"Shahzad","year":"2022","journal-title":"J. Innov. Knowl."},{"key":"ref_25","first-page":"1750019","article-title":"Strategic Foresight for Innovation Management: A Review and Research Agenda","volume":"14","author":"Adegbile","year":"2017","journal-title":"Int. J. Innov. Technol. Manag."},{"key":"ref_26","doi-asserted-by":"crossref","first-page":"4997","DOI":"10.3390\/su7054997","article-title":"Effects of Green Innovation on Environmental and Corporate Performance: A Stakeholder Perspective","volume":"7","author":"Weng","year":"2015","journal-title":"Sustainability"},{"key":"ref_27","doi-asserted-by":"crossref","first-page":"120167","DOI":"10.1016\/j.techfore.2020.120167","article-title":"Effects of innovation strategies on export performance: New empirical evidence from developing market firms","volume":"158","author":"Edeh","year":"2020","journal-title":"Technol. Forecast. Soc. Change"},{"key":"ref_28","doi-asserted-by":"crossref","first-page":"3316","DOI":"10.3389\/fpsyg.2020.553625","article-title":"Green Innovation Practices and Its Impacts on Environmental and Organizational Performance","volume":"11","author":"Wang","year":"2021","journal-title":"Front. Psychol."},{"key":"ref_29","doi-asserted-by":"crossref","first-page":"5105","DOI":"10.3389\/fpsyg.2021.651394","article-title":"Improving Firm\u2019s Economic and Environmental Performance through the Sustainable and Innovative Environment: Evidence from an Emerging Economy","volume":"12","author":"Ahmad","year":"2021","journal-title":"Front. Psychol."},{"key":"ref_30","doi-asserted-by":"crossref","first-page":"253","DOI":"10.3934\/GF.2021013","article-title":"Mobile banking during COVID-19 pandemic in Bangladesh: A novel mechanism to change and accelerate people\u2019s financial access","volume":"3","author":"Khatun","year":"2021","journal-title":"Green Finance"},{"key":"ref_31","doi-asserted-by":"crossref","first-page":"31","DOI":"10.1111\/1744-7941.12147","article-title":"Green human resource management practices: Scale development and validity","volume":"56","author":"Tang","year":"2018","journal-title":"Asia Pac. J. Hum. Resour."},{"key":"ref_32","unstructured":"Ringle, C.M., Wende, S., and Becker, J.-M. (2015). SmartPLS 3 2015, SmartPLS GmbH."},{"key":"ref_33","doi-asserted-by":"crossref","first-page":"311","DOI":"10.1108\/IMDS-08-2014-0231","article-title":"The effects of convenience and speed in m-payment","volume":"115","author":"Teo","year":"2015","journal-title":"Ind. Manag. Data Syst."},{"key":"ref_34","unstructured":"Kline, R.B. (2015). Principles and Practice of Structural Equation Modeling, Guilford Publications."},{"key":"ref_35","doi-asserted-by":"crossref","first-page":"376","DOI":"10.1016\/j.eswa.2017.10.009","article-title":"Cloud computing in manufacturing: The next industrial revolution in Malaysia?","volume":"93","author":"Ooi","year":"2018","journal-title":"Expert Syst. Appl."},{"key":"ref_36","first-page":"146","article-title":"Do Electronic Word-of-Mouth and Elaboration Likelihood Model Influence Hotel Booking?","volume":"59","author":"Leong","year":"2019","journal-title":"J. Comput. Inf. Syst."},{"key":"ref_37","doi-asserted-by":"crossref","first-page":"312","DOI":"10.1016\/j.lrp.2012.09.011","article-title":"Partial least squares: The better approach to structural equation modeling?","volume":"45","author":"Hair","year":"2012","journal-title":"Long Range Plan."},{"key":"ref_38","doi-asserted-by":"crossref","first-page":"74","DOI":"10.1007\/BF02723327","article-title":"On the evaluation of structural equation models","volume":"16","author":"Bagozzi","year":"1988","journal-title":"J. Acad. Mark. Sci."},{"key":"ref_39","unstructured":"Hair, J.F., Hult, G.T.M., Ringle, C., and Sarstedt, M. (2014). A Premier on Partial Least Squares Structural Equation Modeling (PLS-SEM), Sage Publications."},{"key":"ref_40","doi-asserted-by":"crossref","first-page":"115","DOI":"10.1007\/s11747-014-0403-8","article-title":"A new criterion for assessing discriminant validity in variance-based structural equation modeling","volume":"43","author":"Henseler","year":"2015","journal-title":"J. Acad. Mark. Sci."},{"key":"ref_41","doi-asserted-by":"crossref","first-page":"39","DOI":"10.1177\/002224378101800104","article-title":"Evaluating Structural Equation Models with Unobservable Variables and Measurement Error","volume":"18","author":"Fornell","year":"1981","journal-title":"J. Mark. Res."},{"key":"ref_42","unstructured":"Hair, J.F., Black, W.C., Babin, B.J., and Anderson, R.E. (2010). Multivariate Data Analysis, Prentice Hall. [4th ed.]."},{"key":"ref_43","doi-asserted-by":"crossref","first-page":"14","DOI":"10.1016\/j.ijinfomgt.2016.10.008","article-title":"A SEM-neural network approach for predicting antecedents of m-commerce acceptance","volume":"37","year":"2017","journal-title":"Int. J. Inf. Manag."},{"key":"ref_44","doi-asserted-by":"crossref","first-page":"34","DOI":"10.1016\/j.dss.2011.12.001","article-title":"Predicting consumer decisions to adopt mobile commerce: Cross country empirical examination between China and Malaysia","volume":"53","author":"Chong","year":"2012","journal-title":"Decis. Support Syst."},{"key":"ref_45","doi-asserted-by":"crossref","first-page":"103722","DOI":"10.1016\/j.jbi.2021.103722","article-title":"Factors influencing mHealth adoption and its impact on mental well-being during COVID-19 pandemic: A SEM-ANN approach","volume":"116","author":"Alam","year":"2021","journal-title":"J. Biomed. Inform."},{"key":"ref_46","doi-asserted-by":"crossref","first-page":"679","DOI":"10.1016\/j.ijforecast.2006.03.001","article-title":"Another look at measures of forecast accuracy","volume":"22","author":"Hyndman","year":"2006","journal-title":"Int. J. Forecast."},{"key":"ref_47","unstructured":"Garson, G.D. (1998). Neural Networks: An Introductory Guide for Social Scientists, Sage."},{"key":"ref_48","first-page":"222","article-title":"Fintech, green finance and sustainable development","volume":"291","author":"Cen","year":"2018","journal-title":"Adv. Soc. Sci. Educ. Hum. Res."},{"key":"ref_49","doi-asserted-by":"crossref","first-page":"240","DOI":"10.1080\/09640568.2021.1881459","article-title":"Financial inclusion and green economic efficiency: Evidence from China","volume":"65","author":"Wang","year":"2022","journal-title":"J. Environ. Plan. Manag."},{"key":"ref_50","doi-asserted-by":"crossref","unstructured":"Dorfleitner, G., and Braun, D. (2019). Fintech, digitalization and blockchain: Possible applications for green finance. The Rise of Green Finance in Europe, Springer.","DOI":"10.1007\/978-3-030-22510-0_9"},{"key":"ref_51","first-page":"451","article-title":"Chapter 18\u2014FinTech: Harnessing Innovation for Financial Inclusion","volume":"Volume 2","author":"Deng","year":"2018","journal-title":"Handbook of Blockchain, Digital Finance, and Inclusion"}],"container-title":["Systems"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/www.mdpi.com\/2079-8954\/10\/5\/148\/pdf","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,10,11]],"date-time":"2025-10-11T00:27:40Z","timestamp":1760142460000},"score":1,"resource":{"primary":{"URL":"https:\/\/www.mdpi.com\/2079-8954\/10\/5\/148"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2022,9,8]]},"references-count":51,"journal-issue":{"issue":"5","published-online":{"date-parts":[[2022,10]]}},"alternative-id":["systems10050148"],"URL":"https:\/\/doi.org\/10.3390\/systems10050148","relation":{},"ISSN":["2079-8954"],"issn-type":[{"value":"2079-8954","type":"electronic"}],"subject":[],"published":{"date-parts":[[2022,9,8]]}}}