The nexus of financial education, literacy and mobile fintech: unraveling pathways to financial well-being
International Journal of Bank Marketing
ISSN: 0265-2323
Article publication date: 24 June 2024
Issue publication date: 20 November 2024
Abstract
Purpose
This study examines the antecedents and outcomes of using mobile fintech applications, including mobile banking, mobile payments, mobile transfer and mobile financial money management tools.
Design/methodology/approach
This paper examines the antecedents (i.e. financial education and financial literacy) and outcomes (i.e. desirable financial behaviors and financial well-being) of the utilization of mobile fintech. Using data from the 2018 National Financial Capability Study and structural equation modeling techniques, this study provides empirical evidence to show significant direct and indirect relationships among these factors.
Findings
The structural equation modeling results revealed that financial education was positively associated with both financial literacy and mobile fintech utilization. Interestingly, financial literacy was negatively associated with mobile fintech utilization and served as a negative mediator between financial education and mobile fintech utilization, while it positively correlated with desirable financial behaviors, enhancing financial well-being. Utilization of mobile fintech was negatively associated with desirable financial behaviors and indirectly and negatively associated with financial well-being. The alternative model highlighted a direct and negative association between mobile fintech usage and financial well-being, and a direct positive association between financial literacy and financial well-being.
Originality/value
This study makes contributions to the literature on financial well-being by examining pathways of antecedents and outcomes of mobile fintech utilization. The findings provide new insights into the rapid evolution of mobile fintech innovations and provide important policy and practical implications.
Keywords
Citation
Zhang, Y. and Fan, L. (2024), "The nexus of financial education, literacy and mobile fintech: unraveling pathways to financial well-being", International Journal of Bank Marketing, Vol. 42 No. 7, pp. 1789-1812. https://doi.org/10.1108/IJBM-09-2023-0531
Publisher
:Emerald Publishing Limited
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