Financial Technology as a Strengthening Factor in Shaping Financial Behavior

The purpose of this study was to determine the impact of financial behavior, financial inclusion, and financial technology on MSME performance with financial literacy as a mediating variable. The research population included all micro, small, and medium enterprises (MSMEs) located in Ciamis Regency, and the sample was drawn using a random sampling technique. A total of 106 respondents participated; this number was determined by applying Slovin's formula. Information was collected using a questionnaire, which was then processed and analyzed using Partial Least Squares (PLS). The results show that financial behavior has a positive impact on MSME performance, financial inclusion has no significant impact on MSME performance, financial technology has no impact on MSME performance, and financial literacy has a positive impact on MSME performance, financial literacy acts as an intermediary between financial behavior and MSME performance, financial literacy mediates the relationship between financial inclusion and MSME performance, and financial literacy does not mediate the relationship between financial technology and MSME performance. Recommendations for government agencies and financial institutions include providing well-structured financial literacy programs and assisting MSMEs in implementing financial technology. This approach is intended to increase MSMEs' access to financial services as well as their capacity for sustainable growth by equipping them with the knowledge and skills to effectively utilize these resources in their day-to-day business activities.

In the current era of globalization, there are many changes in financial behavior, therefore financial intelligence is absolutely necessary for a student. Because, financial intelligence includes how a person manages their finances well, including expenses, investments, savings, and other financial aspects. This study aims to determine how much influence financial literacy, financial inclusion, and Financial Technology have on financial behavior and to determine how much Lifestyle moderates it in generation Z students at Prof. Dr. Hazairin SH University. This research method is quantitative by distributing questionnaires to 160 students in generation Z at Prof. Dr. Hazairin SH University. Sampling techniques that use non-probability sampling techniques.. Data analysis was carried out using the Partial Least Square - Structural Equation Modeling (PLS-SEM) method with the help of SmartPLS 4 software. The results of the analysis show that partially Financial Technology, Financial Literacy and Lifestyle have a positive and significant effect on Financial Behavior. Conversely, Financial Inclusion does not have a positive and significant effect on Financial Behavior. And Lifestyle as a moderating variable shows a significant influence in strengthening the relationship between Financial Inclusion and Financial Behavior. Meanwhile, Lifestyle as a moderating variable does not show a significant influence in strengthening the relationship between Financial Literacy and Financial Technology.

This research investigates the relationship between financial literacy, financial technology, financial behavior, and financial inclusion development in Jordanian MSMEs. Specifically, it seeks to examine whether financial behavior mediates the influence of financial literacy and financial technology on financial inclusion development. This study employs a partial least square structural equation modeling (PLS-SEM) approach to investigate the relationship between financial literacy, financial technology (FinTech), financial behavior, and financial inclusion development in Jordanian micro, small, and medium enterprises (MSMEs). Based on a sample of 334 MSMEs in Jordan, the study found that financial literacy and FinTech have a significant impact on financial inclusion development in MSMEs. Additionally, financial behavior was found to mediate the relationship between financial literacy and FinTech on financial inclusion development. The findings of this study suggest that financial literacy and FinTech can be useful tools in promoting financial inclusion in MSMEs, and that financial behavior plays a crucial role in realizing their full potential. The study provides insights into the factors that influence financial inclusion in MSMEs and has implications for policymakers, financial institutions, and MSMEs in Jordan and other emerging economies. The use of PLS-SEM in this study provides a robust statistical approach for analyzing the complex relationships between the variables of interest. The scientific novelty of this study lies in its focus on the mediating effect of financial behavior on the relationship between financial literacy, financial technology, and financial inclusion development in Jordanian MSMEs. Keywords: financial behaviour, financial inclusion development, financial literacy, FinTech, partial least square structural equation modeling. https://doi.org/10.55463/issn.1674-2974.50.3.10

In the current era of globalization, there are many changes in financial behavior, therefore financial intelligence is absolutely necessary for a student. Because, financial intelligence includes how a person manages their finances well, including expenses, investments, savings, and other financial aspects. This study aims to determine how much influence financial literacy, financial inclusion, and Financial Technology have on financial behavior and to determine how much Lifestyle moderates it in generation Z students at Prof. Dr. Hazairin SH University. This research method is quantitative by distributing questionnaires to 160 students in generation Z at Prof. Dr. Hazairin SH University. Sampling techniques that use non-probability sampling techniques.. Data analysis was carried out using the Partial Least Square - Structural Equation Modeling (PLS-SEM) method with the help of SmartPLS 4 software. The results of the analysis show that partially Financial Technology, Financial Literacy and Lifestyle have a positive and significant effect on Financial Behavior. Conversely, Financial Inclusion does not have a positive and significant effect on Financial Behavior. And Lifestyle as a moderating variable shows a significant influence in strengthening the relationship between Financial Inclusion and Financial Behavior. Meanwhile, Lifestyle as a moderating variable does not show a significant influence in strengthening the relationship between Financial Literacy and Financial Technology.

Purpose A financial technology (FinTech) plays an important role in the micro and macro finance sectors. Massive investment is driving the development of the FinTech industry globally. However, this positive trend has yet to have a significant impact on the Indonesian economy. The level of financial inclusion in Indonesia is still one of the lowest compared to other countries in ASEAN. This study aims to investigate the driving factors of FinTech adoption in Indonesia and their implications in financial inclusion. Design/methodology/approach A structural Equation Modeling-Partial Least Square (SEM-PLS) method was used to statistically test 369 respondent data points. Findings This study reveals that the four latent variables (digital literacy, financial literacy, model acceptance and use of technology) positively and significantly influence the intention to use FinTech payments. Sustainable use has also been proven to positively encourage exploitative and explorative use behaviors by users. In the end, the use of FinTech payments with exploitative and explorative patterns has been proven statistically to increase financial inclusion in Indonesia. Practical implications This study offers important practical implications by emphasizing the need to enhance the functionality and user-centered design of FinTech payment systems to better align with users’ needs while explicitly fostering both exploitative use and explorative use beyond basic transactional functions. In this regard, collaborative initiatives between the Bank Indonesia and The Financial Services Authority (OJK) as well as higher education institutions are essential to strengthen financial literacy and advance financial inclusion. Such collaboration can be operationalized through university-led community engagement and student-driven outreach programs to promote adaptive and sustained use of digital financial services within the formal financial ecosystem. Originality/value This research uniquely investigates the driving factors of FinTech adoption in Indonesia by combining the constructs of technology acceptance and infusion to explain the relationship between FinTech usage and financial inclusion in Indonesia.

Introduction/Main Objectives This study analyzes the advancements in financial inclusion in Indonesia, focusing on the impact of financial literacy and financial technology (fintech) within government initiatives. Background Problems: Recent data from the 2019 National Survey on Financial Literacy and Inclusion by the Financial Services Authority (OJK) reveals significant progress, with financial literacy increasing to 38.03% and financial inclusion reaching 76.19%, reflecting substantial improvements since 2016. The rapid proliferation of digital financial services, fueled by an internet penetration rate of 73.7%, has made financial products more accessible to diverse populations. . Novelty: The OJK identifies fintech as a critical driver of financial inclusion, with over 150 companies operating in sectors such as Peer-to-Peer Lending and insurTech. This growth indicates a notable shift in consumer behavior towards digital solutions, essential for achieving comprehensive financial inclusion across Indonesian communities. Finding/Results: The findings highlight the potential of enhanced financial literacy and fintech to bridge gaps in access to financial services, ultimately promoting greater economic participation and well-being. Conclusion: Financial literacy (X1) has a significant impact on financial inclusion. The higher a person's understanding of financial concepts, the greater their participation in financial inclusion. Financial Technology (X2) also significantly influences financial inclusion. The increasing use of Fintech facilitates access to financial services, thereby expanding the reach of financial inclusion

The study highlights the importance of financial literacy and financial technology (fintech) in increasing financial inclusion among college students, as well as how both influence their financial behavior. The study also examines the relationship between self-efficacy and financial management, indicating that an individual's level of confidence in their financial capabilities is considered to influence their financial behavior. With the development of fintech, the accessibility of financial services has also increased, enabling students to save and manage their finances more efficiently. The results indicate that financial literacy and the use of fintech have a significant influence on financial behavior, which in turn contributes to increased financial inclusion. Recommendations emphasize the need to strengthen financial literacy and increase access to financial technology to achieve better financial inclusion in Indonesia.

This research looks at how financial literacy and financial inclusion impact financial behavior, with financial technology acting as a connecting factor among MSMEs in Solo City. Good financial literacy allows MSMEs to understand the management of their business finances more effectively, while financial inclusion provides easy access to formal financial services. Financial technology is developing as a tool that facilitates transactions and financial management more efficiently. The study employs a quantitative methodology that includes path analysis and multiple linear regression. The research sample consisted of 300 MSME actors selected through purposive sampling technique. The data was gathered using questionnaires that were directly distributed to respondents. To analyze the data, regression tests were used to examine the relationship between independent and dependent variables, while path analysis was conducted to assess the role of financial technology as an intervening variable. The study's findings suggest that MSMEs' financial behavior is positively and significantly impacted by financial inclusion and financial literacy. In addition, both variables also affect financial technology, which ultimately contributes to improving the financial behavior of business actors. Thus, financial technology acts as an intervening variable, strengthening the relationship between financial inclusion, financial literacy, and the financial behavior of MSMEs in Solo City

This research aims to analyze the influence of Financial Literacy, Financial Inclusion, and Financial Technology on the Financial Behavior of postgraduate students at Bina Darma University. The main problem identified is how these three variables influence students' financial management and how much they contribute to their financial behavior. The method used was a quantitative approach with data analysis using SmartPLS, involving 227 respondents. The research results show that Financial Technology has the most significant influence on Financial Behavior, with a Path Coefficient of 0.337. Financial Literacy also makes a positive contribution with a Path Coefficient of 0.258, while Financial Inclusion has a positive effect but with a smaller contribution, namely a Path Coefficient of 0.157. The R-Square value for Financial Behavior is 0.411, which indicates that the independent variables explain 41% of the variation in student Financial Behavior. The validity and reliability test of the model shows that all variables have good validity and reliability, without multicollinearity problems. This research concludes that Financial Technology and Financial Literacy play a key role in influencing Financial Behavior, while Financial Inclusion has a smaller but still significant impact. Keywords: Financial Literacy, Inclusion, Fintech, Financial Behavior

Financial literacy is one of the key abilities and skills MSME business actors require to manage their finances and achieve successful business performance. This study's purpose was to analyze the impact of financial and technological literacy on improving MSME performance in Medan City and the mediation of this relationship by financial inclusion. The research had a quantitative descriptive methodology with an explanatory research approach. Data were collected from a sample of 100 business actors in Medan City. The data analysis technique used was Structural Equation Modelling - Partial Least Squares (SEM-PLS). The results showed that financial literacy, financial technology, and financial inclusion affected the performance of MSMEs in Medan City, and financial inclusion did not mediate the effects of financial literacy and financial technology on the performance of MSMEs in Medan City. The novelty of this research is its capacity to inform stakeholders of the importance of the financial literacy of MSME business actors; therefore, stakeholders must strive to educate MSME business actors on the importance of financial literacy.

This research investigates the influence of Financial Literacy, Financial Attitude, and Financial Inclusion on Financial Behavior, with Financial Technology serving as a mediating variable, among MSME debtors of Bank Jatim in Tuban. Adopting a quantitative approach with an explanatory design, the study gathered primary data through questionnaires distributed to 90 MSME debtors. The hypotheses were tested using Smart-PLS 3.2 software for data analysis. The findings reveal that Financial Literacy does not have a significant impact on Financial Technology. However, Financial Attitude and Financial Inclusion both show significant effects on Financial Technology. Additionally, Financial Literacy, Financial Attitude, and Financial Inclusion each significantly influence Financial Behavior. Financial Technology also significantly affects Financial Behavior. As a mediating variable, Financial Technology shows a positive but insignificant effect in the relationship between Financial Literacy and Financial Behavior, a negative but insignificant effect between Financial Attitude and Financial Behavior, and a positive but insignificant effect between Financial Inclusion and Financial Behavior.

Aim: This study aims to determine the effect of financial literacy, financial inclusion, locus of control, financial technology on financial management (MSMEs). Study Design: This study uses a quantitative approach with a Structural Equation Modeling (SEM) analysis tool based on Partial Least Squares (PLS). Place and Duration of Study: This study was conducted specifically in Banyumas Regency, located in Central Java, Indonesia. Banyumas Regency is a diverse region with a large number of MSMEs operating across various sectors, making it an appropriate setting to examine the financial behaviors and management practices of MSME actors. Methodology: The employed research methodology is a quantitative approach. Utilizing sampling non-probability sampling method with convenience sample technique was used to collect data from MSME actors across various sectors. The analysis involved evaluating the measurement model (validity and reliability), structural model, and bootstrapping. Results: The results showed that financial literacy and locus of control have a positive and significant effect on the financial management of MSMEs. In contrast, financial inclusion and financial technology have no significant effect on financial management. Conclusion: The findings indicate that individuals with good financial knowledge and self-control are better able to understand financial issues and make the right decisions. Financial literacy and internal factors such as locus of control play an important role in improving understanding and skills in financial management to encourage better management. This research highlights that improving financial literacy and locus of control is crucial for empowering MSMEs. Government agencies and financial institutions should create ongoing, structured financial literacy programs for MSMEs with limited knowledge. Additionally, strengthening psychological factors like locus of control through training and mentoring can boost confidence and decision-making responsibility.

This research investigates the connection between financial literacy, financial technology, financial efficacy, financial inclusion and financial behavior on the digital era. This study utilizes the theory of planned behavior (TPB). The method of gathering data applied was stratified judgmental sampling utilizing a questionnaire with a population of undergraduate accounting students in East Java resulting in 110 samples from Airlangga University, UPN Veteran Jawa Timur, and Terbuka University. PLS-SEM was employed as a technique for data analysis with produced research findings, namely financial literacy, financial technology has a positive effect on behavior and financial inclusion, and financial behavior has a positive effect on financial inclusion. In addition, financial behavior is able to mediate the effect of financial literacy and financial technology on financial inclusion. However, financial efficacy has no effect on behavior and financial inclusion and financial behavior cannot mediate the effect of financial efficacy on financial inclusion.

Introduction: MSMEs in Indonesia, particularly in Kupang City, face various challenges such as weak financial management, low levels of financial literacy and inclusion, and limited adoption of digital financial technology. Many business actors are unable to separate personal and business finances, lack proper financial record-keeping, and often make emotional financial decisions. Additional barriers include limited access to formal financial services due to negative perceptions of high interest rates and complex banking procedures. Unproductive financial behavior also weakens financial resilience and threatens business sustainability. Objectives:This study aims to analyze the influence of financial literacy, financial inclusion, and digital financial capability on personal finance and financial behavior, as well as their impact on the business sustainability of MSMEs. Additionally, the study evaluates the mediating role of personal finance and financial behavior and the moderating role of financial resilience. Methods: A quantitative approach was employed using Structural Equation Modeling with Partial Least Squares (SEM-PLS) on a sample of 154 food and beverage MSMEs in Kupang City that have been operating for more than five years. Results: The results indicate that financial literacy and financial inclusion significantly influence personal finance, while financial inclusion and digital financial capability affect financial behavior. However, only personal finance has a significant impact on business sustainability. No significant mediating or moderating effects were found. Conclusions: Strengthening the personal financial capacity of MSME actors is crucial to supporting business sustainability. Interventions such as financial management training, improving literacy in formal financial services, and fostering healthy financial behavior are essential. These findings offer theoretical and practical contributions to empowering MSMEs through an integrated and sustainable financial approach

This study aims to analyze the effect of financial literacy, financial technology, on stock investment decisions in the millennial generation in Cirebon Regency, with financial behavior as a mediating variable. This research uses a quantitative approach with a causal associative method. The research sample of 150 respondents was taken using purposive sampling technique. The data analysis technique uses statistical methods with Partial Least Squares-Structural Equation Modeling (PLS-SEM) with the Smart-PLS 4 application. The results showed that financial literacy has no direct effect on stock investment decisions. Meanwhile, financial technology has a significant influence on investment decisions, due to easy access and innovative features that facilitate decision making. Financial literacy and financial technology also have a significant effect on financial behavior, where individuals with good financial understanding are better able to manage finances efficiently. Financial behavior is proven to be able to mediate the effect of financial literacy and financial technology on stock investment decisions. The conclusion of this study emphasizes the importance of improving financial literacy and utilizing financial technology to support healthy financial behavior, so that millennials can make smarter investment decisions. The results show that the ease of access offered by financial technology, along with healthy financial behavior, are key factors that encourage millennials to invest in the stock market. Therefore, efforts are needed to improve financial literacy, develop innovations in financial technology, and encourage the formation of good financial habits to increase the participation of millennials in the capital market.