Empowering Financial Decisions: The Impact of Digital Financial Literacy on Financial Well-Being Through Fintech Adoption

DOI

10.2991/978-94-6463-827-1_16How to use a DOI?

Keywords

Digital Financial Literacy; Fintech Adoption; Financial Well-Being; Financial Inclusion; Financial Technology

Abstract

The study responds to the increasing significance of digital financial literacy (DFL) in relation to financial decision-making, fintech adoption, and financial well-being. Although the trend towards a growing reliance on digital financial services continues, little is known about how digital literacy affects the ways in which individuals interact with digital platforms and their financial outcomes. The purpose of this study is to propose a conceptual framework linking DFL, fintech adoption, and financial well-being, especially by identifying the mediating role the fintech adoption has on promoting financial well-being. This study used a narrative review methodology synthesizing literature from relevant academic sources to identify key themes and insights. The studies indicate that digital financial literacy is an important contributor to higher quality financial decision making, which leads to better financial well-being and higher fintech usage. In addition, fintech adoption was found to mediate the nature of the relationship between DFL and financial well-being, indicating that the relationship between digital literacy and financial well-being is contingent on successful fintech adoption. The consequences have significant implications for policymakers, educators, and financial institutions, emphasizing the need for focused educational programming and more inclusive fintech adoption strategies. This study is limited in it uses secondary data; therefore, further research is suggested there to evaluate the long-term impact of digital financial literacy and explore demographic differences in the usage of fintech.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Hasmah Laili Jamalurus
AU  - Fauziah Mohamad Yunus
AU  - Mohamad Hanif bin Abu Hassan
PY  - 2025
DA  - 2025/08/22
TI  - Empowering Financial Decisions: The Impact of Digital Financial Literacy on Financial Well-Being Through Fintech Adoption
BT  - Proceedings of the 3rd International Conference on Business, Finance, Management and Economic (BizFAME 2024)
PB  - Atlantis Press
SP  - 237
EP  - 247
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-827-1_16
DO  - 10.2991/978-94-6463-827-1_16
ID  - Jamalurus2025
ER  -