Fintech Lifestyle and Financial Behavior: When Knowledge Meets Social Influence

Objective: This study aims to analyze the influence of social influence and financial knowledge on fintech adoption, as well as to examine the moderating role of financial management behavior in strengthening or weakening this relationship among university students.
Research Design & Methods: This study employs a quantitative approach using a survey method with university students as respondents. The data analysis technique utilized is Partial Least Squares-based Structural Equation Modeling (PLS-SEM) to examine both direct relationships and moderation effects among the variables in the research model.
Findings: The research results indicate that social influence and financial knowledge have a positive and significant effect on fintech adoption. Meanwhile, financial management behavior does not directly affect fintech adoption but is proven to act as a significant moderating variable. Specifically, financial management behavior moderates the relationship between social influence and fintech adoption, as well as between financial knowledge and fintech adoption. An R-square value of 0.714 indicates that the model possesses strong explanatory power.
Implications & Recommendations: Increased fintech adoption depends not only on financial literacy but also on the development of sound financial management behaviors. Therefore, it is recommended that the government, educational institutions, and fintech service providers integrate financial literacy education with the reinforcement of financial behaviors and leverage social influence as a strategy to boost adoption.
Contribution & Value Added: This study contributes to the literature by integrating social, cognitive, and behavioral factors into a comprehensive model. Furthermore, it adds to the empirical evidence regarding the role of financial management behavior as a moderating variable in the context of fintech adoption, particularly among university students.