Beyond Traditional Technology Acceptance: The Role of Financial Literature and Risk Awareness in Indonesian Fintech Adoption
DOI:
https://doi.org/10.61179/ejba.v19i2.783Keywords:
Fintech adoption, Technology Acceptance Model, Financial literacy, Risk awareness, IndonesiaAbstract
The rapid rise of financial technology (fintech) in Indonesia has introduced unique adoption patterns that challenge traditional technology acceptance models. This study explores key factors influencing fintech adoption among Indonesian university students by extending the Technology Acceptance Model (TAM) to include social influence, risk perceptions, financial literacy, and risk awareness. Employing a quantitative cross-sectional design and partial least squares structural equation modeling (PLS-SEM), data from 118 students were analyzed. The extended model explains 68.6% of the variance in adoption intention, with attitude acting as a key mediator linking perceived usefulness, ease of use, and behavioral intention. Perceived usefulness is the strongest predictor of attitude (? = 0.475), while attitude has the most substantial direct impact on intention (? = 0.802). Financial literacy significantly influences both perceived ease of use (? = 0.232) and attitude (? = 0.237), underlining its importance in technology adoption. Interestingly, risk awareness positively affects perceived usefulness (? = 0.266), suggesting that risk-aware individuals may better appreciate fintech's value. These findings highlight the mediating role of attitude and the domain-specific impact of financial literacy. The study offers practical insights for fintech providers and policymakers to enhance adoption through integrated financial and digital literacy initiatives tailored to collectivistic and emerging market contexts.References
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