Does financial awareness increase the acceptance rate for financial inclusion? An empirical examination in the era of digital transformation
ISSN: 0368-492X
Article publication date: 1 July 2022
Issue publication date: 9 November 2023
Abstract
Purpose
Despite extensive discussion of this topic in the life and financial transactions of people, there is a lack of empirical evidence related to challenges and opportunities of digital financial inclusion sustainability in the existing literature. Accordingly, this study aims at investigating the factors that influence the diffusion rate of digital financial services.
Design/methodology/approach
In this study, the authors propose an integrated model by synthesising the extended Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) with the perceived security and perceived privacy as independent variables, as well as the financial awareness as the moderator variable. The survey was distributed to the potential users of digital financial services rather than the actual users. A total of 270 responses were analysed by a quantitative method of Partial Least Squares-Structural Equation Modelling (PLS-SEM).
Findings
The results indicated the significant role of the postulated hypotheses that behavioural intention to use digital financial services platforms is significantly and positively influenced by the subjective norm, performance expectancy, price value, perceived security and perceived privacy, whilst the financial awareness was found to moderate some specified relationships.
Originality/value
There are few studies on this topic for the Arabian context. The information presented in this article can be useful for professionals and researchers, and further, implications of the study are discussed.
Keywords
Acknowledgements
The authors would like to thank the editor and the anonymous reviewers for the valuable feedback they provided to improve this research paper.
Citation
Al-Okaily, M., Alqudah, H., Al-Qudah, A.A., Al-Qadi, N.S., Elrehail, H. and Al-Okaily, A. (2023), "Does financial awareness increase the acceptance rate for financial inclusion? An empirical examination in the era of digital transformation", Kybernetes, Vol. 52 No. 11, pp. 4876-4896. https://doi.org/10.1108/K-08-2021-0710
Publisher
:Emerald Publishing Limited
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