Optimizing Financial Inclusion for Generation Z Students: Through Financial Self-Efficacy, Financial Technology, and Financial Literacy
Keywords:
financial self-efficacy, financial technology, financial literacy, financial inclusion, behavioral theoryAbstract
Introduction/Main Objectives: This study examines the influence of financial self-efficacy, financial technology (fintech), and financial literacy on financial inclusion among Generation Z students in Malang City. The research is motivated by the importance of financial inclusion as an effort to facilitate Gen Z students' access to digital financial services for future financial readiness.
Background Problems: Despite Indonesia's relatively high financial inclusion rate, low literacy and consumer protection understanding cause Gen Z students to not fully utilize financial services wisely. The main problem addressed is how financial self-efficacy, fintech, and financial literacy affect the financial inclusion of Gen Z students in Malang.
Novelty: This study focuses specifically on Gen Z students who are primary fintech users, differing from previous research mostly centered on the general population or working groups. Moreover, it highlights the factors influencing financial inclusion in the fintech context and the limitations of financial literacy among the digital generation.
Research Methods: Using a quantitative method, the sample consisted of 99 active students from the Accounting undergraduate program semester 3 and above, selected through purposive sampling. Data was collected by questionnaire and analyzed by multiple linear regression using SPSS to test the effect of independent variables on financial inclusion.
Finding/Results: Results show that financial self-efficacy and fintech have a positive and significant effect on the financial inclusion of Generation Z students. However, financial literacy does not significantly impact financial inclusion, indicating a need to develop digital financial literacy more relevant to Gen Z characteristics.
Conclusion: The study concludes that enhancing financial self-efficacy and fintech is key to promoting financial inclusion among Gen Z students. Furthermore, financial literacy needs to adapt to fintech developments to be more effective. These findings provide essential implications for policymakers and educators to optimize financial inclusion for the digital generation.
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