FinTech and Financial Well-Being Among Malaysian Young Adults: Direct or Moderating Role?

This study examines the relationships among financial behaviour, FinTech adoption, and financial well-being among Malaysian young adults, with particular attention to whether FinTech moderates the relationship between financial behaviour and financial well-being. Employing a quantitative cross-sectional survey design, data were analysed from 289 undergraduate students across public and private tertiary institutions in Malaysia. Partial Least Squares Structural Equation Modelling (PLS-SEM) was used for analysis. The results show that FinTech has a statistically significant positive association with financial well-being (β = 0.029, p = 0.024), whereas financial behaviour is not significantly associated with either financial well-being or FinTech adoption. The moderating effect of FinTech on the financial behaviour–financial well-being relationship is also not significant. Higher-order construct analysis identifies credit management and perceived usefulness and efficiency as prominent dimensions of financial behaviour and FinTech, respectively. These findings suggest that, within this sample, FinTech is associated with financial well-being independently of the hypothesised direct and moderating effects of financial behaviour.

Budgeting Behaviour; FinTech; Financial Literacy

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