Adoption of digital finance among youth: A study

Abstract

Financial products and services have been an essential component of an individual's life for decades. Earlier people use to save money in the form of gold, silver, property, etc. The growth within those assets was huge then. Individuals were heavily invested in these assets and have witnessed wealth creation within their lifespan. With time the asset allocation for wealth creation took a jump from such assets to other financial assets. These assets still reap good returns, but other financial products and services can provide better returns and can help an individual in generating wealth. Internet and other digital platforms have entered the market and have established an example of enriching the market with a flood of new customers. It has helped in focusing on the target customers and makes them aware of the best opportunities that they could grab within the available financial products and services. Currently, very few individuals and youth are involved in financial products and services, they need more awareness regarding financial literacy that can help them to understand better products and services for themselves. Currently, the youth has been growing in the field of the internet and digital platforms which has even enlarged the market for financial products and services. This states that such products have high potential within the market and there is a huge gap between the target market and the products and services that can be fulfilled with the help of the internet and digital platforms that tend to flourish all over the world. The future for the financial inclusion of the youth is bright as these products and services are penetrating the market at a very fast pace. The availability of the internet and digital technology makes their marketing and reach very large and fast which suggests its future to be bright with a growing number of youths getting involved with such products and services to generate wealth for their future.