Financial literacy and quality of life: a moderated mediation approach of fintech adoption and leisure

Kakinuma, Yosuke

doi:10.1108/ijse-10-2021-0633

Cited by 25 publications

(16 citation statements)

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“…As India transitions to a cashless economy with increased digitalization, Internet usage can bridge the gap by providing convenient and affordable access to banking and financial services (Barik and Sharma, 2019). Hence, it is essential to integrate digital literacy for efficient financial management and enhance FL (Kakinuma, 2022). However, individuals should be cautious regarding credibility of online information and seek verified sources (Bavafa et al, 2019).…”

Section: Discussion Of the Results Of Bwm Analysismentioning

confidence: 99%

“…(Arora and Chakraborty, 2022;Sethy et al, 2023). Additionally, there has been a growing focus on the impact of fintech and digital literacy on individuals' FK and decision-making, as highlighted by Kakinuma (2022). But the comprehensive study by Goyal and Kumar (2021) collated both antecedents and outcomes of FL, overarching all previous literature reviews.…”

Section: Literature Reviewmentioning

confidence: 99%

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Assessment of antecedents of financial literacy among young adults: hybrid BWM and ISM approach

Saharan,

Pandey

et al. 2023

IJSE

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PurposeThe low level of financial literacy among young adults is a pressing concern at both individual and country levels. Therefore, there is a dire need to understand the best-worst antecedents of financial literacy and how they influence each other.Design/methodology/approachA two-phased multicriteria decision-making (MCDM) technique consisting of best-worst method and interpretive structural modeling (BWM-ISM) was employed for pair-wise comparison, assigning weights, ranking and establishing the relationship among antecedents of financial literacy.FindingsResults suggest that use of Internet (SF1), role of financial advisors (SF3) and education level of individuals (DS7) are top ranked antecedents, whereas masculinity/feminity, language and power distance in society are the least ranked antecedents of financial literacy. Findings will help both academicians and practitioners focus on the key factors and make efforts to increase financial literacy by minimizing resource usage.Originality/valueThe current study provides clarity among antecedents of financial literacy by following BWM-ISM approach for the first time in the financial literacy context.Peer reviewThe peer review history for this article is available at: https://publons.com/publon/10.1108/IJSE-11-2022-0746

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Section: Discussion Of the Results Of Bwm Analysismentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Assessment of antecedents of financial literacy among young adults: hybrid BWM and ISM approach

Saharan,

Pandey

et al. 2023

IJSE

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“…FinTech innovations in developing nations can aid in mitigating gender inequality (Suri and Jack, 2016) and finance SMEs (Lam and Liu, 2020). Financial literacy plays a vital role in users adopting FinTech, thereby improving their quality of life (Kakinuma, 2022).…”

Section: Literature Review 21 Fintech In Emerging Economiesmentioning

confidence: 99%

The dark side of FinTech in financial services: a qualitative enquiry into FinTech developers’ perspective

Sampat

Mogaji

Nguyen

2023

IJBM

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Purpose FinTech offers numerous prospects for significant enhancements and fundamental changes in financial services. However, along with the myriad of benefits, it also has the potential to induce risks to individuals, organisations and society. This study focuses on understanding FinTech developers’ perspective of the dark side of FinTech.Design/methodology/approach This study conducted semi-structured interviews with 23 Nigerian FinTech developers using an exploratory, inductive methodology The data were transcribed and then thematically analysed using NVivo.Findings Three themes – customer vulnerability, technical inability and regulatory irresponsibility – arose from the thematic analysis. The poor existing technological infrastructure, data management challenges, limited access to data and smartphone adoption pose challenges to a speedy integration of FinTech in the country, making customers vulnerable. The lack of privacy control leads to ethical issues. The lack of skilled developers and the brain drain of good developers present additional obstacles to the development of FinTech in Nigeria.Research limitations/implications FinTech operation in a developing country differs from that in developed countries with better technological infrastructure and institutional acceptance. This study recognises that basic banking operations through FinTech are still not well adopted, necessitating the need to be more open-minded about the global practicalities of FinTech.Practical implications FinTech managers, banks and policymakers can ethically collect consumer data that can help influence customer credit decisions, product development and recommendations using the mobile app and transaction history. There should be strict penalties on FinTech for selling customers’ data, sending unsolicited messages or gaining unnecessary access to the customer’s contact list. FinTech can offer to educate consumers about their financial management skills.Originality/valueWhereas other studies have focused on the positive aspects of FinTech to understand client perceptions, this study offers new insights into the dark side of FinTech by analysing the viewpoints of FinTech developers. Furthermore, the study is based in Nigeria, an emerging economy adopting FinTech, adding a new dimension to the body of knowledge.

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“…The banking and financial services industry is getting increasingly digitalized credit to the rapid surge in smartphone usage (Kakinuma, 2022). South Asian countries are “leapfrogging” from the traditional to the digitalized financial world (Lyons et al , 2020); for a smooth transition, it is imperative to first ensure that users have adequate digital financial literacy, as it plays a significant role in FinTech adoption (Jünger and Mietzner, 2020).…”

Section: Research Model Development and Hypotheses Formulationmentioning

confidence: 99%

Adoption of digital payment FinTech service by Gen Y and Gen Z users: evidence from India

Srivastava,

Mohta,

Shunmugasundaram

2023

DPRG

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Purpose This study aims to evaluate the users’ behavioral intention toward the acceptance and adoption of digital payment FinTech services in India. The study also compares the differences in Gen Y and Gen Z’s intention to adopt digital payment FinTech services. Design/methodology/approach The present study adopted both the unified theory of acceptance and use of technology (UTAUT) and the technology acceptance model (TAM) as its theoretical base and also added financial literacy and customer satisfaction. The data was analyzed by applying structural equation modeling using SmartPLS 4. Findings The outcomes of the study imply that customer satisfaction, effort expectancy and performance expectancy had a significant effect on behavioral intention. Moreover, effort expectancy, performance expectancy and perceived enjoyment had a significant influence on customer satisfaction, and effort expectancy and performance expectancy is significantly influenced by perceived enjoyment, while self-efficacy significantly influenced perceived enjoyment. Also, financial literacy does not moderate the relationship between effort expectancy, performance expectancy, facilitating condition and behavioral intention. Furthermore, the association of effort expectancy → customer satisfaction; perceived enjoyment → customer satisfaction; and perceived enjoyment → effort expectancy is moderated by age factor. Originality/value This study contributes by developing a more cohesive and unified model for assessing users’ behavioral intention toward acceptance and adoption of FinTech services by adopting constructs from the UTUAT and TAM and incorporating financial literacy and customer satisfaction to expand and enhance the theoretical prospect of the existing literature.

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Financial literacy and quality of life: a moderated mediation approach of fintech adoption and leisure

Cited by 25 publications

References 50 publications

Assessment of antecedents of financial literacy among young adults: hybrid BWM and ISM approach

Assessment of antecedents of financial literacy among young adults: hybrid BWM and ISM approach

The dark side of FinTech in financial services: a qualitative enquiry into FinTech developers’ perspective

Adoption of digital payment FinTech service by Gen Y and Gen Z users: evidence from India

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