A Study on Fintech Versatility Among Young Adults and the Factors Influencing the Use of the Services Rendered by the Platforms

Abstract

The rise of Fintech has brought a wave of innovation to the financial market, gradually becoming a recognizable term, and revolutionizing daily life with its user-friendly services. The study delves into the awareness of Fintech among young adults and the key factors influencing it. Specifically, it explores the relationship between intention of use, attitude, ease of use, social influence, trust, and government support. Data collection involved a Google Form questionnaire distributed via WhatsApp, garnering 152 responses. IBM SPSS Statistics 29 was employed for data analysis. A regression analysis was conducted in the results revealed that attitude, ease of use, social influence, trust, and government support are positively correlated to use the of financial technology. Furthermore, an Independent Samples t-test was conducted in which the study found that gender does not significantly affect Fintech adoption among young adults. These findings offer valuable insight for Fintech companies, highlighting opportunities to collaborate with governments in promoting financial inclusion and economic growth.