Moderating Role of Fintech Adoption on Relationship between Financial Literacy and Financial Well-being

Abstract

Purpose- The purpose of this paper is to understand the relationship between financial literacy and financial well-being. Further, this relationship has been studied with the presence of fintech adoption as one of the significant moderator.

Design/Methodology: A descriptive research design was used to conduct an empirical examination, which involved reaching 265 respondents from India and gathering information using both paper and internet survey forms. After doing a literature analysis, the research instrument's five-point Likert-type scale was used to design the items for the study's components. For data analysis and hypothesis testing, the statistical programmes SPSS 22.0, AMOS 24.0, Process (Prof. A. Hayes), and "Interaction" for moderation graph were used by Daniel Soper.

Findings: It was found that there exist a significant association between financial literacy and financial well-being. Our findings also demonstrate that adoption of fintech significantly moderates the relationship between financial literacy and financial well-being.

Orignality/Value- The study offers new insights into the relationship between financial literacy and financial well-being in the age of fintech.