Impact of Financial Literacy and Financial Technology on Financial Satisfaction through Financial Behavior in Pakistani Prospect

Abstract

A person's financial behaviour is defined by the way he or she treats, manages, and uses available financial resources. The purpose of this study is to assess the impact of financial literacy and the usage of financial technology on financial satisfaction using financial behaviour as an intervening variable. The targeted population for this study is clients of chosen commercial banks who have operational bank accounts with the concerned bank, with a total of 280 respondents included for data analysis. SPSS 26 software was used to analyzed the data. The findings of this study indicate that financial literacy influences financial behaviour and that the use of financial technology influences financial behaviour. Financial literacy and the use of financial technology also influence financial satisfaction. It was also shown that financial behaviour mediates between financial knowledge and financial satisfaction. Finally, the usage of financial technology influences financial satisfaction via financial behaviour as an intervening variable. These findings have both practical and theoretical implications.