Aulia Puja Dewanti, Sandi Bagas Permana

THE IMPACT OF FINANCIAL TECHNOLOGY ON SAVING BEHAVIOR OF STUDENTS IN SURABAYA

Introduction

The impact of financial technology on saving behavior of students in surabaya. Investigate financial technology's (fintech) impact on student saving behavior in Surabaya. Learn how adoption, ease of use, and security enhance saving habits.

Abstract

This research aims to investigate the impact of financial technology (fintech) on the saving behavior of students in Surabaya. The study examines the level of fintech adoption, the relationship between fintech usage and saving behavior, and the factors influencing students' decisions to use fintech for saving. Data were collected from a sample of students using questionnaires, and statistical analyses were conducted using descriptive statistics, reliability tests, Pearson correlation, multiple regression, and independent t-tests. Key findings show that 80% of the students have adopted fintech, with a significant positive correlation between fintech usage and saving behavior. Factors such as ease of use, perceived security, and financial literacy are significant predictors of fintech use for saving. The results suggest that fintech is an effective tool to enhance saving habits among students in Surabaya. However, differences in saving behavior between fintech users and non-users are not substantial, highlighting the need to consider selection bias. This research contributes to the understanding of fintech's role in promoting financial inclusion and improving saving behaviors in emerging markets.

Review

This research provides a timely investigation into the impact of financial technology (fintech) on the saving behavior of students in Surabaya. The study meticulously examines the levels of fintech adoption, the relationship between its usage and saving habits, and the various factors influencing students' decisions to leverage fintech for saving. This objective is particularly pertinent given the rapid expansion of fintech services and their potential to shape financial habits among younger generations in emerging economies. The methodology employed a quantitative approach, gathering data from a sample of students via questionnaires, which were subsequently analyzed using a comprehensive set of statistical techniques including descriptive statistics, reliability tests, Pearson correlation, multiple regression, and independent t-tests. Key findings reveal a high adoption rate of fintech among the student population (80%), alongside a significant positive correlation between fintech usage and saving behavior. Factors such as ease of use, perceived security, and financial literacy were identified as significant predictors of fintech adoption for saving. Intriguingly, while the study concludes that fintech is an effective tool to enhance saving habits, it also prudently notes that the differences in saving behavior between fintech users and non-users were not substantial, highlighting a potential selection bias. Overall, this research offers a valuable contribution to the understanding of fintech's role in promoting financial inclusion and improving saving behaviors, particularly within the context of an emerging market. While the findings strongly suggest fintech's positive influence, the acknowledgment of potential selection bias is a crucial point for consideration, urging caution in inferring direct causality for all segments of the student population. Future studies could expand on this by employing more robust designs, such as longitudinal studies or experimental approaches, to more definitively ascertain the causal impact and explore targeted interventions to enhance saving behaviors across a broader spectrum of students.

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