A Study on Digital Natives' Adoption of Fintech: Perspectives from Generations Y and Z

Abstract

This pilot study focuses on the acceptance of Fintech applications among Generation Y and Z in Gujarat, India. It examines factors such as perceived ease of use, perceived usefulness, trust, perceived risk, digital literacy, socioeconomic influences, perceived benefits, and technological competence. To analyze Fintech adoption, the study uses the Technology Acceptance Model (TAM) and the Unified Theory of Acceptance and Use of Technology (UTAUT). Utilizing a stratified random sample, a structured questionnaire revealed significant findings. Reliability was confirmed with Cronbach's alpha values ranging from 0.74 to 0.88, indicating strong internal consistency across all constructs. The findings highlight perceived utility and behavioral usage intention as critical factors in Fintech adoption. Practical recommendations are provided for Fintech companies and policymakers to improve adoption rates among these generations. The study aims to enhance Gujarat's financial ecosystem by understanding the complex factors influencing Fintech usage.