Influence of fintech adoption on personal financial management behavior with reference to Andhra Pradesh India

Abstract

The rapid proliferation of financial technology has revolutionized the landscape newlineof personal financial management, particularly in emerging markets like India. By newlineadopting Behavioral Reasoning Theory (BRT), this research aims to understand the newlineunderlying motivations, reasons, and barriers that influence the adoption of fintech and newlineits impact on personal financial management behavior, with specific focus on Andhra newlinePradesh, India. Through an extensive review of literature, the study identified personal newlineinnovativeness, government support, digital financial literacy, compatibility, and perceived newlinecredibility as major factors that drive the adoption of fintech. By integrating newlineInnovation Resistance Theory (IRT) to the BRT model, major factors that hinder the newlineadoption of fintech are identified as traditional barriers, image barriers, risk barriers, newlinevalue barriers, and usage barriers. How these elements jointly impact the way people newlineview the value of novelty, their attitudes towards financial technology, their intent to newlineadopt it, and their behavior in managing personal finances formed the crux of the research newlinequestion. The study employed a structured questionnaire, with a sample size of newline723, and used simple random sampling technique. newlineThe findings underscore the importance of perceived epistemic value, reasons for newlineand against adoption, attitude, and social influence in shaping users intentions and personal newlinefinancial management behavior. All the hypothesized relationships are supported, newlinedemonstrating strong and significant direct and indirect effects among the constructs. newlineThe results also highlight the role of demographic factors in shaping individuals reasoning newlineand adoption behavior. newlineThe study contributes to the theoretical advancement by introducing new variables newlinethat have not been comprehensively studied earlier and has practical implications for newlinevarious stakeholders including policymakers, financial institutions and advisors, educational newlineinstitutions and consumers. newlineThe study concludes that promoting positive reasoning