Role of Financial Literacy and Saving Habits on Fintech Adoption post Covid-19

Authors

  • Deni Pandu Nugraha Hungarian University of Agriculture and Life Sciences https://orcid.org/0000-0001-8138-1420
  • Budi Setiawan Faculty of Economics, Universitas Indo Global Mandiri
  • Emilda Emilda Faculty of Economics, Universitas Indo Global Mandiri
  • Muhammad Masyhuri Doctoral School of Business Administration, University of Pecs
  • Mac Nhu Quynh Vietnam Chamber of Commerce and Industry
  • Robert Jeyakumar Nathan Faculty of Business, Multimedia University
  • Maria Fekete‐Farkas Institute of Agricultural and Food Economics, The Hungarian University of Agriculture and Life Sciences,
  • István Hágen Institute of Rural Development and Sustainable Economy, Hungarian University of Agriculture and Life Sciences

DOI:

https://doi.org/10.15408/etk.v23i1.37856

Keywords:

behavioral intention, consumer behavior, TAM, fintech, habits

Abstract

Research Originality: This research paper enriches existing literature on drivers of fintech adoption, including the impact of perceived trust, individual innovativeness, savings habits, and government support on Indonesian users' post-COVID-19 pandemic fintech adoption intentions.

Research Objectives: This study examines the impact of post-covid changes in people's behaviour, savings habits and accelerated financial literacy on strengthening Technology Adoption Model (TAM) among Indonesian fintech users.

Research Methods: The researchers surveyed 536 people living in Indonesia. The data was analysed using structural equation modelling with moderator variables.

Empirical Results: It found that ease of use, usefulness, trust and personal innovativeness are key drivers of adoption intentions. The research also found that savings habits significantly increase the influence of government support on fintech adoption.

Implications: This research has two important implications. First, digital finance companies should further improve fintech app service quality and security. Second, the government should also encourage the expansion of a fintech-based startup ecosystem by providing regulatory support to accelerate the progress of Indonesia's digital finance industry.

JEL Classification: M21, G23, O36

How to Cite:

Nugraha, D. P., Setiawan, B., Emilda, E., Masyhuri, M., Quynh, M. N., Nathan, R. J., Fekete-Farkas, M., & Hagen, I. (2024). Role of Financial Literacy and Saving Habits on Fintech Adoption post Covid-19. Etikonomi, 23(1), 63 – 80. https://doi.org/10.15408/etk.v23i1.37856.

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Author Biographies

  • Deni Pandu Nugraha, Hungarian University of Agriculture and Life Sciences
    PhD student Doctoral School of Economic and Regional Sciences
  • Budi Setiawan, Faculty of Economics, Universitas Indo Global Mandiri

    Budi Setiawan is a lecturer at Indo Global Mandiri University, Palembang and Co-founder of Victory Sriwijaya Education. He has 9 years of experience in finance, investment, and marketing from national and multinational companies. He is passionate about financial inclusion, financial technology (fintech), Islamic finance, and social business. In 2019, he was selected as a participant in the research training in Banking and Finance program at the University of Limoges (France), and Economic research methodology workshop at SGH Warsaw School of Economics (Poland) in 2022, sponsored by the European Union. Budi is currently a PhD Student in Doctoral School of Economic and Regional Sciences at Hungarian University of Agriculture and Life Sciences (former Szent Istvan University, Hungary) under Stipendium Hungaricum Programme. He currently serves as the head of the Literacy and Research Department at Masyarakat Ekonomi Syariah (MES) in Hungary. Budi has published and reviewed several papers in reputable journals indexed by Scopus, ABDC journal, and Web of Science. Email: budi.setiawan@uigm.ac.id Orcid: https://orcid.org/0000-0003-4297-0649

  • Emilda Emilda, Faculty of Economics, Universitas Indo Global Mandiri

    Emilda is a lecturer at Indo Global Mandiri University, Palembang, Indonesia. She graduated from Gadjah Mada University with a master’s degree in Master Business Administration (M.B.A). Her research interests in finance, especially corporate finance, capital markets, and behavioral finance. She also holds the Professional Certified Finance (Certified Financial Planner) from FPSB USA. She has work experience as a business consultant and financial staff at a futures brokerage and contractor company.

  • Muhammad Masyhuri, Doctoral School of Business Administration, University of Pecs

    Muhammad Masyhuri is a lecturer in management at STIE GICI Business School, West Jawa, Indonesia. He is currently a PhD candidate at the Doctoral School of Business Administration, Faculty of Business and Economics, University of Pecs, Hungary. In addition to his academic work, he has more than 15 years of experience in corporate governance of listed companies in Indonesia. His research interests include corporate governance, SMEs, entrepreneurship, competitiveness, capital market, investor-finance relations and other business topics.

    Email: masyhuri.muhammad@pte.hu  

    Orcid: https://orcid.org/0000-0003-3383-5517

  • Mac Nhu Quynh, Vietnam Chamber of Commerce and Industry
    Dr Mac Nhu Quynh is the Deputy Director General at the Department of Planning and General Affairs, with Vietnam Chamber of Commerce and Industry (VCCI), headquartered in Hanoi. She organises and participates in industrial linked activities between the industry, private entities, and government institutions in Vietnam
  • Robert Jeyakumar Nathan, Faculty of Business, Multimedia University

    Assoc Prof Dr Robert Jeyakumar Nathan is attached to the Faculty of Business at Multimedia University, Malaysia. He conducts academic courses and research projects in the field of Marketing, Electronic Commerce, Design Thinking, and Innovation.

  • Maria Fekete‐Farkas, Institute of Agricultural and Food Economics, The Hungarian University of Agriculture and Life Sciences,
    Prof. Maria Fekete‑Farkas is an economist, and a full professor of Microeconomics at the Hungarian University of Agriculture and Life Sciences, Institute of Agricultural and Food Economics. Her research areas are sustainable development and corporate sustainability, digitalization, new market structures and pricing, economics of resources, behavior economics, social media, economic, social and environment aspects of climate change. She is a member of the organizing committees of several international conferences and serves certain international journals as a member of the editorial board, reviewer, and author
  • István Hágen, Institute of Rural Development and Sustainable Economy, Hungarian University of Agriculture and Life Sciences

    Assoc. Prof. István Zsombor Hágen is a member of the Public Board of the Hungarian Academy of Sciences of the Department of Economics and Law, the Subcommittee of Management and Organizational Sciences, the Academic Committee of the Hungarian Academy of Sciences in Miskolc, the Expert Committee on Agriculture, and the Working Committee on Horticulture. He is the chairman of the Miskolc Academic Committee of the Hungarian Academy of Sciences, the Expert Committee of Economics, Business Regulation, and Information Management. Member of the Hungarian Economic Society, the Hungarian Controlling Association.

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Published

2024-04-11

Issue

Vol. 23 No. 1 (2024)

Section

Articles

How to Cite

Role of Financial Literacy and Saving Habits on Fintech Adoption post Covid-19. (2024). ETIKONOMI, 23(1), 63-80. https://doi.org/10.15408/etk.v23i1.37856