Impact of Financial Knowledge on Adoption of FinTech Platforms among Academic Professionals: A UTAUT Model Perspective

Abstract

Based on this theoretical framework, the Unified Theory of Acceptance and Use of Technology (UTAUT) model, this study analyses the impact of financial knowledge on the adoption of FinTech Platforms, the new age investment tools among academic professionals. It is intended to demonstrate how FCs, SI, as well as EE and PE shape the adoption intentions of academic professionals, a population generally neglected in investment behavior studies. Data were gathered from academic professionals to examine the relationships between these variables using partial least squares (PLS) structural equation model. The results show that persistence of academic professionals in using new age investment platforms is largely inspired by the factors of financial literacy and the UTAUT model factors like FCs, SI, EE, PE. The findings of this study are relevant for policymakers, financial institutions and platform developers as it identifies the importance of financial knowledge and UTAUT constructs in creating confident and informed adoption of modern investment tools among academics.