Factors Affecting the Intention to Use Fintech among Gen Z

Abstract

To examine and analyze the relationship of perceived ease of use, perceived benefits, digital financial knowledge and perceived risk with Gen Z’s intention to use fintech. This research targets Generation Z as they are potential and current users of fintech and are starting their financial journey therefore, it is important to measure their intentions. An online survey questionnaire was filled by the sample population. The data from these questionnaires was analyzed through “Partial least square structural equation modeling (PLS-SEM)” with the help of SmartPLS software. The descriptive analysis was done with the help of “Statistical Package for the Social Sciences (SPSS)” perceived ease of use, perceived benefits and digital financial knowledge are found to have a positive relationship with Gen Z’s intention to use fintech. Whereas perceived risks have a negative relationship with Gen Z’s intention to use fintech. The researcher had to distribute the questionnaire online. The time was very short to get a larger sample size. Marketing teams of fintech companies should leverage social media platforms to create awareness and engage Gen Z effectively. Additionally, fintech operations should be designed to emphasize the distinct features and advantages of their offerings, making it easier for Gen Z to differentiate fintech solutions from traditional banking services.