Quest for financial inclusion via digital financial services (Fintech) during COVID-19 pandemic: case study of women in Indonesia

Budi Setiawan (), Thich Dai Phan (), Jennifer Medina (), Martijn Wieriks (), Robert Jeyakumar Nathan () and Maria Fekete-Farkas ()
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Budi Setiawan: Hungarian University of Agriculture and Life Sciences
Thich Dai Phan: University of Miskolc
Jennifer Medina: University of Seville
Martijn Wieriks: JULO
Robert Jeyakumar Nathan: Multimedia University
Maria Fekete-Farkas: Hungarian University of Agriculture and Life Sciences

Journal of Financial Services Marketing, 2024, vol. 29, issue 2, No 18, 459-473

Abstract: Abstract Based upon an extended Technology Acceptance Model (TAM), this study aims to investigate the factors influencing the behavioral intention to adopt Fintech from the perspective of Indonesian women. The research data were collected from 409 Indonesian female respondents and analyzed using the SEMinR statistical data analysis tool. Structural equation modeling (SEM) was used to assess this research’s measurement model and structural model. The result shows that perceived usefulness, perceived ease of use, user innovativeness, attitude, trust, and brand image significantly positively impact behavioral intention to adopt Fintech among Indonesian women. Meanwhile, perceived ease of use, financial literacy, and government support are found to have indirect relationships with behavioral intention. In addition, moderation analysis revealed that the saving habits of women during the COVID-19 pandemic reduced the relationship between their innovativeness and behavioral intention to adopt Fintech. Based on these results, we recommend practical suggestions to the government, policymakers, and aspiring Fintech service providers further to enhance women’s empowerment through digital financial inclusion.

Keywords: Financial inclusion; Financial technology; Indonesian gender gap; TAM; Women in Fintech; UN SDG8 (search for similar items in EconPapers)
JEL-codes: G23 J16 O33 (search for similar items in EconPapers)
Date: 2024
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Citations: View citations in EconPapers (1)

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DOI: 10.1057/s41264-023-00217-9

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