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

Author

Listed:
  • Budi Setiawan

    (Hungarian University of Agriculture and Life Sciences
    Universitas Indo Global Mandiri)

  • Thich Dai Phan

    (University of Miskolc)

  • Jennifer Medina

    (University of Seville)

  • Martijn Wieriks

    (JULO)

  • Robert Jeyakumar Nathan

    (Multimedia University
    University of South Bohemia in České Budějovice)

  • Maria Fekete-Farkas

    (Hungarian University of Agriculture and Life Sciences)

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.

Suggested Citation

  • Budi Setiawan & Thich Dai Phan & Jennifer Medina & Martijn Wieriks & Robert Jeyakumar Nathan & Maria Fekete-Farkas, 2024. "Quest for financial inclusion via digital financial services (Fintech) during COVID-19 pandemic: case study of women in Indonesia," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 29(2), pages 459-473, June.
    • Handle: RePEc:pal:jofsma:v:29:y:2024:i:2:d:10.1057_s41264-023-00217-9
    DOI: 10.1057/s41264-023-00217-9
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    References listed on IDEAS

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    More about this item

    Keywords

    Financial inclusion; Financial technology; Indonesian gender gap; TAM; Women in Fintech; UN SDG8;
    All these keywords.

    JEL classification:

    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • J16 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Gender; Non-labor Discrimination
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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