The impact of using financial technology on positive financial behaviors

Bi, Qianwen; Dean, Lukas R.; Guo, Tao; Sun, Xu

doi:10.61190/fsr.v29i1.3442

Cited by 3 publications

(1 citation statement)

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“…Gulamhuseinwala et al (2015) define fintech businesses as, "firms that are combining innovative business models and technology to enable, enhance and disrupt financial services." With the increasing popularity of cloud based online financial tools and mobile-based financial planning apps, consumers are progressively adopting financial technology to help manage their personal finance matters (Bi, et al, 2020;Bi & Huston, 2014).…”

Section: Finlit Education In Digital Mediamentioning

confidence: 99%

Using Gamification To Influence User Success In Personal Finance Applications

Hayes

2024

Preprint

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Research Problem & Objectives: This thesis explores the current research and prior literature surrounding financial literacy’s use as a tool for consumer empowerment. It seeks to understand the current market for financial literacy digital media in the form of mobile budgeting applications. In particular, to understand where weaknesses exist and opportunities lie. Methods: That will entail combining the existing literature and best practices with persuasive technology (gamification) to create a minimum viable product that may address deficiencies in the market. This proposed application will be designed to be an intervention to increase the end user’s level of financial literacy and financial well being. Key Results: This study resulted in the development of a new mobile personal finance budgeting application uniquely designed to make financial literacy information more accessible and available to users, and to help users improve their financial habits & behaviours. This was accomplished through the implementation of gamification techniques. Conclusion: This thesis concluded having created a tool that Canadians might use to increase their level of financial literacy. The mobile budgeting app developed filled a gap in the Canadian mobile personal finance application market by employing research-backed gamification techniques, multiple engagement loops and behavioural change strategies.

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Section: Finlit Education In Digital Mediamentioning

confidence: 99%

Using Gamification To Influence User Success In Personal Finance Applications

Hayes

2024

Preprint

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The nexus of financial education, literacy and mobile fintech: unraveling pathways to financial well-being

Zhang,

Fan

2024

IJBM

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PurposeThis study examines the antecedents and outcomes of using mobile fintech applications, including mobile banking, mobile payments, mobile transfer and mobile financial money management tools.Design/methodology/approachThis paper examines the antecedents (i.e. financial education and financial literacy) and outcomes (i.e. desirable financial behaviors and financial well-being) of the utilization of mobile fintech. Using data from the 2018 National Financial Capability Study and structural equation modeling techniques, this study provides empirical evidence to show significant direct and indirect relationships among these factors.FindingsThe structural equation modeling results revealed that financial education was positively associated with both financial literacy and mobile fintech utilization. Interestingly, financial literacy was negatively associated with mobile fintech utilization and served as a negative mediator between financial education and mobile fintech utilization, while it positively correlated with desirable financial behaviors, enhancing financial well-being. Utilization of mobile fintech was negatively associated with desirable financial behaviors and indirectly and negatively associated with financial well-being. The alternative model highlighted a direct and negative association between mobile fintech usage and financial well-being, and a direct positive association between financial literacy and financial well-being.Originality/valueThis study makes contributions to the literature on financial well-being by examining pathways of antecedents and outcomes of mobile fintech utilization. The findings provide new insights into the rapid evolution of mobile fintech innovations and provide important policy and practical implications.

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Fintech and Financial Inclusion: The Mediating Role of Digital Marketing

Al-Slehat

2023

Business: Theory and Practice

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This study aims to test the role of digital marketing as a mediating variable in the relationship between financial technology and financial inclusion. The researcher applied the descriptive analytical approach to the data collected by developing a questionnaire distributed to 375 employees in the Jordanian banking sector. The researcher also used structural equation modeling to test the study hypotheses through SmartPLS software 3. One of the study’s most important findings is that digital marketing partially mediates the relationship between financial technology and financial inclusion. The study recommends that the Jordanian commercial banking sector should use advanced strategies that enhance technological innovation and digital marketing through the existence of an evolved environment for financial technology that is optimally exploited.

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The impact of using financial technology on positive financial behaviors

Cited by 3 publications

References 50 publications

Using Gamification To Influence User Success In Personal Finance Applications

Using Gamification To Influence User Success In Personal Finance Applications

The nexus of financial education, literacy and mobile fintech: unraveling pathways to financial well-being

Fintech and Financial Inclusion: The Mediating Role of Digital Marketing

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