The Role of Financial Technology (FINTECH) in Moderating the Influence of Financial Literacy on Investment Decisions

Ranto Suprapto

Abstract


This study aims to analyze the influence of financial literacy on investment decisions and examine the role of financial technology (fintech) as a moderating variable in this relationship. The development of digital technology has changed the way people access financial services and conduct investment activities. However, varying levels of financial literacy lead to varying levels of investment decision-making. The presence of fintech is expected to strengthen the influence of financial literacy through easier access to information, transaction efficiency, and the provision of various digital investment services. This study used a quantitative approach with a survey method of 175 respondents. The sampling technique used purposive sampling, while data collection was conducted through questionnaires. Data analysis used the Partial Least Squares-Structural Equation Modeling (PLS-SEM) method with the assistance of SmartPLS software. The results show that financial literacy has a positive and significant effect on investment decisions. Financial technology also has a positive and significant effect on investment decisions. Furthermore, financial technology has been shown to positively moderate the relationship between financial literacy and investment decisions, indicating that the higher the utilization of fintech, the stronger the influence of financial literacy on investment decisions. These findings imply that increasing financial literacy needs to be balanced with optimizing the use of fintech to encourage people to make more rational, effective, and appropriate investment decisions.


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