IDEAS home Printed from https://ideas.repec.org/a/mth/bmsmti/v15y2024i1p51-76.html
   My bibliography  Save this article

The Effects of Financial Education on the Adoption of Financial Technology (FinTech) Services in the Buea Silicon Mountain Community of Cameroon

Author

Listed:
  • Gabriel Nnoko Enongene
  • Alain Vilard Ndi Isoh
  • Victor Mbarika
  • Sheku Fofanah
  • Mukobe Mathias Itoe

Abstract

This paper sought to assess the effects of financial education on the adoption of financial technology (FinTech) services within the Buea Silicon Mountain community of the south region of Cameroon. A total of three hundred individuals were purposively sampled and data was collected through the use of structured questionnaires guided by parameters as observed in the Technology Adoption Model (TAM). Hypotheses were tested using the CB-SEM technique with analytical packages including SPSS 24 and AMOS 23. The findings revealed limited utilization of online banking and peer-to-peer lending platforms, with cryptocurrency exchanges and crowd-funding platforms ranking as the least utilized instruments. Additionally, the study establishes a significant influence of both financial knowledge and financial behaviour on the adoption of FinTech services. Individuals who comprehend the financial benefits of FinTech and perceive these services as innovative solutions are more likely to adopt them. This positive attitude is driven by the perceived ease of use, transaction tracking, and the potential to generate income through FinTech solutions. However, this paper did not find any statistically significant effect of financial skills on the adoption of FinTech services. Therefore, financial knowledge and a positive attitude toward FinTech services emerged as pivotal factors positively influencing financial services adoption in the Buea Silicon Mountain community of Cameroon.

Suggested Citation

  • Gabriel Nnoko Enongene & Alain Vilard Ndi Isoh & Victor Mbarika & Sheku Fofanah & Mukobe Mathias Itoe, 2024. "The Effects of Financial Education on the Adoption of Financial Technology (FinTech) Services in the Buea Silicon Mountain Community of Cameroon," Business Management and Strategy, Macrothink Institute, vol. 15(1), pages 51-76, June.
  • Handle: RePEc:mth:bmsmti:v:15:y:2024:i:1:p:51-76
    as

    Download full text from publisher

    File URL: https://www.macrothink.org/journal/index.php/bms/article/download/21651/16719
    Download Restriction: no

    File URL: https://www.macrothink.org/journal/index.php/bms/article/view/21651
    Download Restriction: no
    ---><---

    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:mth:bmsmti:v:15:y:2024:i:1:p:51-76. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Technical Support Office The email address of this maintainer does not seem to be valid anymore. Please ask Technical Support Office to update the entry or send us the correct address (email available below). General contact details of provider: http://www.macrothink.org/journal/index.php/bms .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.