Savings 2.0: Harnessing Technology For Better Financial Competence
DOI:
https://doi.org/10.31539/costing.v7i4.10480Keywords:
Financial Competence, Technology Utilization, Savings Behavior, Financial LiteracyAbstract
This research investigates the dynamics of financial competence among customers at Graha Bank Bengkulu, focusing on the roles of technology utilization and savings behavior, mediated by financial literacy. Utilizing a quantitative research design with a sample of 100 customers selected through random sampling, the study employs Smart PLS (Partial Least Squares Structural Equation Modeling) for data analysis. The results reveal significant direct effects of both technology utilization and savings behavior on financial competence, as well as a highly significant direct effect of financial literacy on financial competence. Additionally, technology utilization demonstrates a significant indirect effect on financial competence through financial literacy, while savings behavior does not exhibit a significant indirect effect. These findings underscore the importance of leveraging technological innovations and promoting financial literacy initiatives to enhance customers' financial competence and resilience. The study provides valuable insights for Graha Bank Bengkulu to develop targeted strategies and interventions aimed at empowering customers to navigate the complexities of personal finance effectively and achieve their financial goals.
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[2] A. Lusardi and O. S. Mitchell, “The Importance of Financial Literacy: Opening a New Field,” J. Econ. Perspect., vol. 37, no. 4, pp. 137–154, 2023, doi: 10.1257/jep.37.4.137.
[3] K. K. Ingale and R. A. Paluri, “Financial literacy and financial behaviour: a bibliometric analysis,” Rev. Behav. Financ., vol. 14, no. 1, pp. 130–154, 2022, doi: 10.1108/RBF-06-2020-0141.
[4] S. Ouachani, O. Belhassine, and A. Kammoun, “Measuring financial literacy: a literature review,” Manag. Financ., vol. 47, no. 2, pp. 266–281, 2021, doi: 10.1108/MF-04-2019-0175.
[5] K. Goyal and S. Kumar, “Financial literacy: A systematic review and bibliometric analysis,” Int. J. Consum. Stud., vol. 45, no. 1, pp. 80–105, 2021, doi: 10.1111/ijcs.12605.
[6] A. C. Lyons, J. Kass-Hanna, and A. Fava, “Fintech development and savings, borrowing, and remittances: A comparative study of emerging economies,” Emerg. Mark. Rev., vol. 51, no. 217, pp. 0–39, 2022, doi: 10.1016/j.ememar.2021.100842.
[7] E. Evaluation et al., “Journal Pre-proof,” 2019.
[8] N. Cox et al., “Initial impacts of the pandemic on consumer behavior: Evidence from linked income, spending, and savings data,” Brookings Pap. Econ. Act., vol. 2020, no. Special Edition, pp. 35–82, 2020, doi: 10.1353/eca.2020.0006.
[9] A. Soukotta et al., “Financial Literacy and Savings Behavior Female Entrepreneurs in Kiaracondong Market, Bandung City,” J. Darma Agung, vol. 30, no. 2, pp. 652–662, 2022.
[10] J. Du and W. Pan, “Examining energy saving behaviors in student dormitories using an expanded theory of planned behavior,” Habitat Int., vol. 107, pp. 1–35, 2021, doi: 10.1016/j.habitatint.2020.102308.
[11] P. J. Morgan and T. Q. Long, “Financial literacy, financial inclusion, and savings behavior in Laos,” J. Asian Econ., vol. 68, pp. 1–39, 2020, doi: 10.1016/j.asieco.2020.101197.
[12] B. Yang, A. Jahanger, M. Usman, and M. A. Khan, “The dynamic linkage between globalization, financial development, energy utilization, and environmental sustainability in GCC countries,” Environ. Sci. Pollut. Res., vol. 28, no. 13, pp. 16568–16588, 2021, doi: 10.1007/s11356-020-11576-4.
[13] S. Hanifah, S. Sarpingah, and Y. Putra, “The Effect of Level of Education, Accounting Knowledge, and Utilization Of Information Technology Toward Quality The Quality of MSME’s Financial Reports,” no. 3, 2020, doi: 10.4108/eai.3-2-2020.163573.
[14] O. Ali, A. Jaradat, A. Kulakli, and A. Abuhalimeh, “A Comparative Study: Blockchain Technology Utilization Benefits, Challenges and Functionalities,” IEEE Access, vol. 9, pp. 12730–12749, 2021, doi: 10.1109/ACCESS.2021.3050241.
[15] C. Kuntadi, Cipto Juwanto, and Muhammad Irvan Zakaria, “Factors Affecting the Preparation of Government Financial Statements: Application of Government Accounting Standards, Utilization of Information Technology, and Internal Control System (Literature Review of State Financial Management),” Dinasti Int. J. Econ. Financ. Account., vol. 4, no. 2, pp. 326–333, 2023, doi: 10.38035/dijefa.v4i2.1851.
[16] F. Muthia, A. Novriansa, A. Nurullah, and H. Yusrianti, “Utilization of Financial Technology as a Source of Capital for Songket Craftsmen Group in Muara Penimbung Ulu, Ogan Ilir,” Kaibon Abhinaya J. Pengabdi. Masy., vol. 5, no. 1, pp. 81–84, 2023, doi: 10.30656/ka.v5i1.5410.
[17] L. A. Orobia, J. Nakibuuka, J. Bananuka, and R. Akisimire, “Inventory management, managerial competence and financial performance of small businesses,” J. Account. Emerg. Econ., vol. 10, no. 3, pp. 379–398, 2020, doi: 10.1108/JAEE-07-2019-0147.
[18] T. Suwarsa and R. Anita, “Urnal kuntansi,” Akuntansi, vol. 27, no. 1, 2020.
[19] A. Csiszarik, “Changes in Financial Generations as the Aftermath of the Pandemic”.
[20] T. Lind, A. Ahmed, K. Skagerlund, C. Strömbäck, D. Västfjäll, and G. Tinghög, “Competence, Confidence, and Gender: The Role of Objective and Subjective Financial Knowledge in Household Finance,” J. Fam. Econ. Issues, vol. 41, no. 4, pp. 626–638, 2020, doi: 10.1007/s10834-020-09678-9.
[21] E. Lechman and M. Popowska, “Harnessing digital technologies for poverty reduction. Evidence for low-income and lower-middle income countries,” Telecomm. Policy, vol. 46, no. 6, pp. 0–3, 2022, doi: 10.1016/j.telpol.2022.102313.
[22] C. de Villiers, S. Kuruppu, and D. Dissanayake, “A (new) role for business – Promoting the United Nations’ Sustainable Development Goals through the internet-of-things and blockchain technology,” J. Bus. Res., vol. 131, pp. 598–609, 2021, doi: 10.1016/j.jbusres.2020.11.066.
[23] W. I. Ibrahim, M. R. Mohamed, R. M. T. R. Ismail, P. K. Leung, W. W. Xing, and A. A. Shah, “Hydrokinetic energy harnessing technologies: A review,” Energy Reports, vol. 7, pp. 2021–2042, 2021, doi: 10.1016/j.egyr.2021.04.003.
[24] R. Collington, “Disrupting the Welfare State? Digitalisation and the Retrenchment of Public Sector Capacity,” New Polit. Econ., vol. 27, no. 2, pp. 312–328, 2022, doi: 10.1080/13563467.2021.1952559.
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2024-06-03
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