金融科技与金融包容性：数字素养与监管支持的作用.docx

ArticleFinTechandFinancialInclusion:ExploringtheMediatingRoleofDigitalFinancial1.iteracyandtheModeratingInfluenceofPerceivedRegulatorySupportMuhammedBasidAmnasIntroductionTheissueoffinancialexclusioncontinuestobeanimportantbarriertoequitabledevelopmentintheglobalfinanciallandscape,evenwithalltheeconomicprogressweareseeingaroundtheworld.Asignificantsegmentofthepopulationcontinuestofacechallengesinaccessingtheformalfinancialsystem(SenyoandOsabutey2020).TheWorldBankzs2021reportshowsthisunequalaccesstofinancialservicesandhighlightsthenecessityforsomecreativesolutionstofixthisgap(Demirgtiq-KUntetal.2022).FinTechhasemergedasatech-savvysolutiontomakefinancialserviceswaymoreaccessibleforeveryone,especiallythosewhoareunderserved(Aleemietal.2023;SenyoandOsabutey2020).FinTechischangingthewayhowindividualshandlemoney.Individualscannowdotheirfinancialtransactionsanytime,anywhere,thankstoFinTechplatforms(YangandZhang2022).Fintechcompaniesareusingtechnologytocreateeasyandinnovativechannelsforfinancialservices.Fintechisagame-changerzespeciallyinplaceswheretraditionalbankingfacilitiesarescarce,whichenablesindividualstoperformfinancialtransactionsusingtheirsmartphones(Asifetal.2023;Yeyouomoetal.2023).FinTechservicesarewaymorecost-effectivethantraditionalfinancialservices(Shaikhetal.2023).Thatmeansfinancialservicesbecomemoreaffordableandreachableforalargergroupofpeople,havingarealeffectonfinancialinclusion.IndevelopingcountriessuchasIndia,thesupportofdigitalfinancialliteracyisessentialtoensureaccesstofinancialservices.ProminentinternationalorganizationssuchastheWorldBankandtheUnitedNations,MurugesanSelvam1andSatyanarayanaParayitamZ*"checkforupdatesCitation:Amnas,MUhammCdBasidzMurugesanSeIvam,andSatyanarayanaParayitam.2024.FinTechandFinancialInclusion:ExploringtheMediatingRoIeofDigitalFinancial1.iteracyandtheModeratingInfluenceofPerceivedRegulatorySupport.oumMaiwgemewf17:108.https:/doi.org/10.3390/jrfml7030108AcademicEditorXianrong(Shawn)ZhengReceived:28December2023Revised:1March2024Accepted:5March2024Published:7March2024Copyrighh©2024bytheauthors.1.icenseeMDP1.Basel,Switzerland.ThisarticleisanopenaccessarticledistributedunderthetermsandconditionsoftheCreativeCommonsAttribution(CCBY)license(https：/creativecommons.org/licenses/by/4.0/).1 DepartmentofCommerceandFinancialStudies,BharathidasanUniversity,Tiruchirappalli620024zTamilNaduzIndia;amnasbasithbdu.ac.in(M.B.A.);drmselvambdu.ac.in(M.S.)2 DepartmentofManagementandMarketing,CharltonCollegeofBusiness,UniversityofMassachusettsDartmouth,Dartmouth,MA02745,USA*Correspondence:sparayitamumassd.eduAbstract:Exploringthepotentialoffinancialtechnology(FinTech)topromotefinancialinclusionistheaimofthisresearch.ThisstudyconcentratedonunderstandingwhypeopleuseFinTechandhowitaffectstheiraccesstofinancialservicesbytakingintoaccountthemediatingroleofdigitalfinancialIiteraCyandthemoderatingeffectofperceivedregulatorysupport.Thisstudyusedpartialleastsquaresstructuralequationmodeling(P1.S-SEM)fortestingtheresearchmodelbycollectingdatafrom608FinTechusersinIndia.Theresultsrevealedtheroleoftrust,servicequality,andperceivedsecurityareessentialinpromotingtheutilizationofFinTechservices.ThisstudyalsodemonstratedthatFinTechpositivelyimpactsfinancialinclusion,makingiteasierforindividualstogetintoformalfinancialservices.Furthermore,digitalfinancialliteracyemergedasanimportantmediatorbetweenFinTechuseandfinancialinclusion.TheresearchalsoconfirmedthatperceivedregulatorysupporthasasignificantmoderationinfluenceontherelationshipbetweenFinTechandfinancialinclusion.ThisresearchwouldcontributetoadvancingtheoreticalframeworksandofferpracticaladviceforpolicymakersandFinTechcompaniestomakefinancialservicesmoreinclusive.Keywords:FinTech;financialinclusion;digitalfinancialliteracy;perceivedregulatorysupportareseeingFinTechasakeyplayerinthefightagainstpovertyandadriverforeconomicdevelopment(Feyenetal.2023).TheDigitalIndiapolicyofthegovernmentandthetechnologyadoptionmindsetofpeoplehavesparkedadigitalfinancialservicesboominthecontextofIndia(VyasandJain2021).TheGlobalFindexdatabaseof21revealsthat24percentofadultsworldwidewereunbankedgloballyand30percentinIndia(Paul2022).InIndia,around35percentofthepopulationusesdigitalmethodsoftransactionsthoughover70percenthavebankaccounts.GovernmentinitiativessuchasUPIzAePS,BharatQRcode,andBHIMaretransforminghowindividualsandbusinesseshandletheirmoney,whichhasarealimpactonimprovingfinancialinclusion(Asifetal.2023).However,theswiftadoptionofFinTechserviceshaspresentednewchallenges.Usersfaceriskssuchasidentitytheft,privacyproblems,unregulatedserviceproviders,andsecurityissues(Jangiretal.2022;Nasiretal.2023).Inresponsetothesechallenges,theroleofdigitalfinancialliteracy(DF1.)becomesimportant,whichinvolvesknowledgeaboutFinTechproductsandtheirmanagement(Ravikumaretal.2022).Adistinctionshouldbemadebetweenzdigitalliteracy*and'financialliteracy,.Whilefinancialliteracyisrelatedtotheabilityofanindividualtounderstandthefundamentalsofeconomicsan