Empowering Individuals For Sustainable Finance: The interplay of Financial Literacy, Fintech Adoption and Financial Well-Being
Abstract/Description
The authors investigate whether financial well-being in Pakistan is influenced by financial literacy and fintech adoption, specifically focusing on how fintech serves as a mediator in this relationship. An online questionnaire created by the research team was administered, and PLS-SEM was used to analyze the results. The analysis was performed on the 384 valid observations found in the survey. According to the findings, financial literacy enhances financial well-being, fintech use is associated with greater knowledge about financial matters, and fintech use can independently improve financial well-being. Our findings agree well with earlier research. This means the conclusions can support policymakers in developing the National Financial Inclusion Strategy (NFIS) 2024–28. They play a crucial role in helping banks and FinTechs develop functional and user-friendly digital financial services. The 4% increase targets NFIS's aim to lift the financial inclusion rate from 64% to 75% by 2028. This research contributes to Sustainable Development Goal 1 (No Poverty) by demonstrating that financial literacy and the use of fintech can enhance a person's financial well-being and increase their sense of inclusion.
*The document contains extended abstract.
Keywords
Financial literacy, Fintech use, Financial well-being Financial Skills, Financial awareness, Financial Experience, Pakistan
Track
Finance
Session Number/Theme
Finance - Session I
Start Date/Time
13-6-2025 2:15 PM
End Date/Time
13-6-2025 3:55 PM
Location
MCS – 3 AMAN CED Building
Recommended Citation
Fatima, E., & Parveen, S. (2025). Empowering Individuals For Sustainable Finance: The interplay of Financial Literacy, Fintech Adoption and Financial Well-Being. IBA SBS 4th International Conference 2025. Retrieved from https://ir.iba.edu.pk/sbsic/2025/program/4
COinS
Empowering Individuals For Sustainable Finance: The interplay of Financial Literacy, Fintech Adoption and Financial Well-Being
MCS – 3 AMAN CED Building
The authors investigate whether financial well-being in Pakistan is influenced by financial literacy and fintech adoption, specifically focusing on how fintech serves as a mediator in this relationship. An online questionnaire created by the research team was administered, and PLS-SEM was used to analyze the results. The analysis was performed on the 384 valid observations found in the survey. According to the findings, financial literacy enhances financial well-being, fintech use is associated with greater knowledge about financial matters, and fintech use can independently improve financial well-being. Our findings agree well with earlier research. This means the conclusions can support policymakers in developing the National Financial Inclusion Strategy (NFIS) 2024–28. They play a crucial role in helping banks and FinTechs develop functional and user-friendly digital financial services. The 4% increase targets NFIS's aim to lift the financial inclusion rate from 64% to 75% by 2028. This research contributes to Sustainable Development Goal 1 (No Poverty) by demonstrating that financial literacy and the use of fintech can enhance a person's financial well-being and increase their sense of inclusion.
*The document contains extended abstract.
