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The Impact of Financial Literacy, Social Capital, and Financial Technology on Financial Inclusion of Indonesian Students

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  • Gen Norman Thomas
  • Siti Mutiara Ramadhanti Nur
  • Lely Indriaty

Abstract

This study aims to analyze the impact of financial literacy, social capital and financial technology on financial inclusion. The research method used a quantitative research method, in which questionnaires were distributed to 100 active students in the economics faculty at 7 private colleges in Tangerang, Indonesia. Based on the results of data processing using SPSS version 23, it results that financial literacy, social capital and financial technology partially have a positive and significant influence on financial inclusion. The results of this study provide input that financial literacy needs to be increased because it is not yet equivalent to financial inclusion, and reducing the gap between financial literacy and financial inclusion is only 2.74%. Another benefit of this research is to give an understanding to students that students should be independent actors or users of financial technology products and that students should become pioneers in delivering financial knowledge, financial behavior and financial attitudes to the wider community.

Suggested Citation

  • Gen Norman Thomas & Siti Mutiara Ramadhanti Nur & Lely Indriaty, 2024. "The Impact of Financial Literacy, Social Capital, and Financial Technology on Financial Inclusion of Indonesian Students," Papers 2405.06570, arXiv.org.
    • Handle: RePEc:arx:papers:2405.06570
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    References listed on IDEAS

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    1. Grohmann, Antonia & Klühs, Theres & Menkhoff, Lukas, 2018. "Does financial literacy improve financial inclusion? Cross country evidence," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 111, pages 84-96.
    2. Peterson K. Ozili, 2018. "Impact of digital finance on financial inclusion and stability," Borsa Istanbul Review, Research and Business Development Department, Borsa Istanbul, vol. 18(4), pages 329-340, December.
    3. Ozili, Peterson Kitakogelu, 2018. "Impact of Digital Finance on Financial Inclusion and Stability," MPRA Paper 84771, University Library of Munich, Germany.
    4. Syed Kumail Abbas Rizvi & Bushra Naqvi & Fatima Tanveer, 2018. "Is Pakistan Ready to Embrace Fintech Innovation?," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 23(2), pages 151-182, July-Dec.
    5. Kabakova, Oksana & Plaksenkov, Evgeny, 2018. "Analysis of factors affecting financial inclusion: Ecosystem view," Journal of Business Research, Elsevier, vol. 89(C), pages 198-205.
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