Artificial Intelligence and Behavioral Finance in the Moroccan Banking Sector: Toward Optimizing Investment Decisions in UCITS (International Journal of Scientific Research and Innovative Studies)

Summary

• Net assets of collective investment in transferable securities (OPCVM) in Morocco reached MAD 826.73 billion across 627 funds as of late July 2026.p.2
• The multiple linear regression model explains 50.8 percent of the variance in UCITS investment decision-making among retail bank clients.p.1
• The empirical study examined a sample of 150 retail banking clients across five geographic regions in Morocco.p.4
• The technological regressor block accounts for an additional 26.3 percentage points of variance beyond socio-demographics.p.2
• The behavioral regressor block accounts for an additional 9.8 percentage points of variance beyond socio-demographic and technological factors.p.2
• Moroccan bond and money-market funds make up a major portion of the market, accounting for over MAD 360 billion in total value.p.4

Key insights

1. Trust in AI is the strongest positive driver of UCITS investment decision-making with a standardized beta coefficient of 0.336.p.1
2. AI adoption exhibits a significant positive effect on investment decision-making with a beta coefficient of 0.298.p.1
3. Perceived usefulness has a negative significant effect on investment decision-making in the model with a beta coefficient of -0.147.p.1
4. Socio-demographic variables alone account for 17.8 percent of the variance in client investment decisions.p.7
5. Financial literacy positively influences investment decision-making in the baseline regression model with a beta coefficient of 0.194.p.1
6. Mean investment decision scores were highest among clients of banks with public participation at 3.287.p.9