The Influence of Financial Technology (Fintech) on Consumer Behavior Transformation
Keywords:
Financial Technology, Purchase Decision, Service Availability.Abstract
This study aims to analyze the influence of financial technology on changes in consumer behavior, especially in the context of purchasing decisions. This study uses four independent variables, namely Application Use (APK), Convenience, Security, and Service Availability, to identify the factors that most significantly influence consumers' Purchase Decision. Based on the results of the regression analysis, it was found that only the Service Availability variable has a significant influence on Purchase Decision, with a p value of 0.000 indicating strong statistical significance. The other variables, namely APK Usage, Convenience, and Security, do not show a significant influence on purchasing decisions, with p values of 0.839, 0.283, and 0.091, respectively.The regression model used in this study has an R Square value of 0.452, which indicates that 45.2% of the variation in purchasing decisions can be explained by these independent variables. However, the Adjusted R Square value of 0.429 indicates that after adjusting for the number of independent variables, only 42.9% of the variation in purchasing decisions can be explained by this model.
References
Akshay, Sunil, Tribhan. (2024). Adoption of Digital Payment Systems and its Influence on Consumer Behaviour in India. Indian Scientific Journal Of Research In Engineering And Management, doi: 10.55041/ijsrem30181
Belanche, D., Casaló, L. V., Flavián, C., & Schepers, J. (2019). Trust transfer in the continued usage of public e-services. International Journal of Human-Computer Studies, 124, 26-39.
Bonfilio, Patrik, Rijanto., Novia, Utami. (2024). Financial technology, social media influencers, and experience of cryptocurrency investment decisions: Financial literacy’s role. Jurnal Manajemen Maranatha, doi: 10.28932/jmm.v23i2.8717
Chen, L., & Lu, D. (2017). Adoption of mobile payment in Chinese online community: An empirical study. Electronic Commerce Research and Applications, 26, 1-9.
Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 319-340.
Dewa, Krisna, Prasada., Bagus, Gede, Ari, Rama., Kadek, Julia, Mahadewi., Komang, Satria, Wibawa, Putra. (2024). Fintech, the threat of technology in the conventional financial system. Naukovij vìsnik Nacìonalʹnoï akademìï vnutrìšnìh sprav, doi: 10.56215/naia-herald/2.2024.77
Divya., Ashish, Mathur., Abhilasha, Mathur., Vandana, Gupta. (2024). Fintech Disruption in Traditional Financial Services: Analyzing the Impact of Fintech Startups on Traditional Banking and Financial Institutions. doi: 10.1007/978-3-031-54379-1_52
Fairuza, Alief., Rifelly, Dewi, Astuti. (2024). Analysis of Factors Affecting the Intention of Applying for Digital-Based Loans Based on the Technology Acceptance Model. Journal of business and management studies, doi: 10.32996/jbms.2024.6.4.1
Gomber, P., Koch, J.-A., & Siering, M. (2018). Digital Finance and FinTech: Current Research and Future Research Directions. Journal of Business Economics, 88, 537-580.
Indrani, Bhattacharjee., Dharmendra, Kumar, Srivastava., Pallavi, Mishra., Sunil, Adhav., Mandeep, Singh. (2024). The Rise Of Fintech: Disrupting Traditional Financial Services. doi: 10.53555/kuey.v30i4.1408
Jiahui, Chen. (2024). Fintech: Digital Transformation of Financial Services and Financial Regulation. Highlights in business, economics and management, doi: 10.54097/512jkg86
Jitender, Kumar., Vinki, Rani. (2024). Investigating the dynamics of FinTech adoption: an empirical study from the perspective of mobile banking. Journal of Economic and Administrative Sciences, doi: 10.1108/jeas-12-2023-0334
Khalil, Feghali., Lâma, Daher., Pamela, Nassif. (2024). The influence of Fintech on Financial Inclusion: An International Study. Indonesian Management & Accounting Research, doi: 10.25105/imar.v23i1.18312
KPMG. (2019). The Pulse of Fintech 2019: Biannual Global Analysis of Investment in Fintech. KPMG International.
Lerong, Lu. (2024). Fintech in Monetary and Payment Systems. doi: 10.1093/9780191884597.003.0007
Lusardi, A., & Mitchell, O. S. (2014). The Economic Importance of Financial Literacy: Theory and Evidence. Journal of Economic Literature, 52(1), 5-44.
Mayur, Arun, Patil. (2024). Research Paper on the Adoption and Use of Financial Technology. Indian Scientific Journal Of Research In Engineering And Management, doi: 10.55041/ijsrem30529
Mohit, S, Reddy. (2024). Exploring the Transformative Impact of Fintech on Banking, Finance and Insurance Industries. Indian Scientific Journal Of Research In Engineering And Management, doi: 10.55041/ijsrem31044
Nidhi, Singh. (2024). Data Security and Consumer Trust in Fintech Innovations using Technology Adoption Method. Indian Scientific Journal Of Research In Engineering And Management, doi: 10.55041/ijsrem33015
Ntswaki, Petunia, Matlala. (2024). Consumer behaviour towards the adoption of digital banking channels. Consumer Behavior Review, doi: 10.51359/2526-7884.2024.260295
Paulin, Kamuangu. (2024). Digital transformation in finance: A review of current research and future directions in FinTech. World Journal Of Advanced Research and Reviews, doi: 10.30574/wjarr.2024.21.3.0904
Philippon, T. (2016). The FinTech Opportunity. National Bureau of Economic Research.
Priti, Bakhshi., R., Agrawal., Suhan, Mendon., Daniel, Frank., Cristi, Spulbar., Ramona, Birau., Robert, Dorin, Filip. (2024). Barriers in adoption of fintech by street vendors and hawkers in india using interpretive structural modeling. doi: 10.3846/btp.2024.19208
Rajani, Puzhakkal., Sarannya, Sivansankaran. (2024). Fintech: A Stepping Stone Towards Financial Inclusion. Journal of business management and information systems, doi: 10.48001/jbmis.2024.si1006
Rogers, E. M. (2003). Diffusion of Innovations (5th ed.). Free Press.
Samira, Benbelgacem., Ghousia, Khatoon., Hussaini, Bala., Abad, Alzuman. (2024). The Role of Financial Technology on the Nexus Between Demographic, Socio-economic, and Psychological Factors, and the Financial Literacy Gap. SAGE Open, doi: 10.1177/21582440241255678
Sriyono, Sriyono., Salsabilla, Andjani., M., F., Irawan. (2023). Evaluation of Fintech's Impact on Financial Inclusion in Indonesia: A Case Research on the Use of Digital Payment Services. The Management journal of Binaniaga, doi: 10.33062/mjb.v8i2.32
Syed, Tatheer, -. (2024). Investigating Personal Finance Apps and Competitor Landscape in India. International Journal For Multidisciplinary Research, doi: 10.36948/ijfmr.2024.v06i03.21150
Vedala, Naga, Sailaja., M., S., Rao., Vijaybabu, Tekkem., K., P., Kiran., Kafila., M., Rajyalaxmi. (2024). The Digital Revolution and Satisfaction Knowledge of Fintech-Based Advancements in Machine Learning. Journal of Electrical Systems, doi: 10.52783/jes.1286
Wenyang, Li. (2024). Research on the Impact of Technological Innovation on the Financial Services Industry. Frontiers in Sustainable Development, doi: 10.54691/8qneq173
Xiaonan, Liang. (2024). Fintech and Digital Transformation of the Financial Industry. Highlights in business, economics and management, doi: 10.54097/cmnbc241
Xinyue, Qiang. (2024). Digital Transformation in the Financial Sector Through Fintech. Advances in Economics, Management and Political Sciences, doi: 10.54254/2754-1169/76/20241656
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2024 Darwin Nahwan, Zezen Sugiono, Naen, Karwasim, Giyatman
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
