Understanding Fintech Adoption Among Urban Households in Ernakulam Kerala Using an Extended Technology Acceptance Model

Abstract

FinTech has changed the provision of financial services because of its effectiveness, efficiency, and convenience. However, problems regarding privacy risks, financial risks, and performance risks have influenced the user's decision-making process. The current study aims to examine the variables that affect the usage of FinTech with regard to the households in Ernakulam district, Kerala. Quantitative cross-sectional survey research design was chosen in which the primary data collection involved collecting the information from 200 FinTech users in the study area through the use of a structured questionnaire. The Technology Acceptance Model (TAM) framework with extension includes PU, PEOU, PR, FR, and PER as determinants of BI. Descriptive statistics, reliability test, factor loading test, and Pearson correlation test were performed in order to analyze the collected data. It was found that the reliability test indicated good internal consistency in which all of the variables provided alpha and composite reliability values above 0.88. PU has a mean value of 4.00 while PEOU has a mean value of 4.13 indicating positive attitudes towards FinTech products among urban households. Results for the correlation analysis indicated extremely high positive correlation between PU and BI (