Breaking Barriers to FinTech Adoption: A Multivariate Analysis of the Role of Demographic Traits

Abstract

Purpose – This study aims to analyze the socio-economic predictors of FinTech adoption (FA), focusing on Consumer Innovativeness (CI) and demographic factors such as gender, age, education, and income.

Design/methodology/approach – Data were collected from 470 respondents between September 2023 and February 2024. The study employs the Stimulus-Organism-Response (SOR) framework to investigate antecedents of FA. Hypotheses concerning demographic traits were tested using t-tests and ANOVA, alongside Levene's test for homogeneity of variance.

Findings – Results indicate that CI has a significant direct influence on FA. Gender-based analysis revealed significant differences in FA but not in CI. However, no significant differences were found across age, education, and income groups for either variable. These findings provide actionable insights for stakeholders seeking to advance FinTech strategies.

Originality/value – This study contributes to the literature by examining socio-economic predictors of FA, with a particular focus on demographic traits. The findings offer a nuanced understanding of adoption patterns, making this research uniquely positioned to guide future academic and practical endeavors