IDEAS home Printed from https://ideas.repec.org/a/gam/jecomi/v12y2024i3p54-d1343956.html

Green Finance and Fintech Adoption Services among Croatian Online Users: How Digital Transformation and Digital Awareness Increase Banking Sustainability

Author

Listed:
  • Hrvoje Serdarušić

    (Faculty of Economics in Osijek, Josip Juraj Strossmayer University of Osijek, 31000 Osijek, Croatia)

  • Mladen Pancić

    (Faculty of Economics in Osijek, Josip Juraj Strossmayer University of Osijek, 31000 Osijek, Croatia)

  • Željka Zavišić

    (Effectus University of Applied Sciences, 10000 Zagreb, Croatia)

Abstract

This study delves into the dynamic interplay between green finance, Fintech adoption, digital awareness, and digital transformation in the Croatian banking industry. Amidst the emerging trend of sustainable banking practices and technological advancements, this research aims to examine the influence of green finance on Fintech adoption and banking sustainability. Employing a quantitative research design, this study gathered data through a survey questionnaire of 304 participants, comprising customers and employees of various banks in Croatia. The respondents’ insights were analyzed using IBM SPSS for the demographic analysis and SmartPLS for structural equation modeling (SEM). The results reveal a significant impact of green finance on Fintech adoption and digital awareness. Additionally, digital awareness significantly influenced Fintech adoption. However, the direct effect of digital transformation on Fintech adoption was not significant. This study also confirmed the significant influence of Fintech adoption on banking sustainability and identified the mediating role of digital awareness between green finance and Fintech adoption. This research contributes novel insights into the relationship between sustainable finance initiatives and digital banking trends. It underscores the need for increased digital awareness and the integration of green finance principles in the banking sector. These findings offer practical implications for banks in Croatia, suggesting a strategic focus on digital awareness programs, leveraging Fintech for enhanced customer experience, and fostering collaboration for a conducive Fintech environment.

Suggested Citation

  • Hrvoje Serdarušić & Mladen Pancić & Željka Zavišić, 2024. "Green Finance and Fintech Adoption Services among Croatian Online Users: How Digital Transformation and Digital Awareness Increase Banking Sustainability," Economies, MDPI, vol. 12(3), pages 1-18, February.
    • Handle: RePEc:gam:jecomi:v:12:y:2024:i:3:p:54-:d:1343956
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7099/12/3/54/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7099/12/3/54/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Helmut Elsinger & Pirmin Fessler & Judith Feyrer & Konrad Richter & Maria Antoinette Silgoner & Andreas Timel, 2018. "Digitalization in financial services and household finance: fintech, financial literacy and financial stability," Financial Stability Report, Oesterreichische Nationalbank (Austrian Central Bank), issue 35, pages 50-58.
    2. Kasturi, Srini, 2023. "Evolving consumer expectations and the future of digital banking," Journal of Digital Banking, Henry Stewart Publications, vol. 8(1), pages 37-48, June.
    3. Mateusz Folwarski, 2021. "The FinTech Sector and Aspects on the Financial Inclusion of the Society in EU Countries," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 1), pages 459-467.
    4. David-West, Olayinka & Iheanachor, Nkemdilim & Kelikume, Ikechukwu, 2018. "A resource-based view of digital financial services (DFS): An exploratory study of Nigerian providers," Journal of Business Research, Elsevier, vol. 88(C), pages 513-526.
    5. Cristina Chueca Vergara & Luis Ferruz Agudo, 2021. "Fintech and Sustainability: Do They Affect Each Other?," Sustainability, MDPI, vol. 13(13), pages 1-19, June.
    6. Chaudhuri, Atanu & Subramanian, Nachiappan & Dora, Manoj, 2022. "Circular economy and digital capabilities of SMEs for providing value to customers: Combined resource-based view and ambidexterity perspective," Journal of Business Research, Elsevier, vol. 142(C), pages 32-44.
    7. repec:ers:journl:v:xxiv:y:2021:i:special1:p:459-467 is not listed on IDEAS
    8. Ruzita Abdul-Rahim & Siti Aisah Bohari & Aini Aman & Zainudin Awang, 2022. "Benefit–Risk Perceptions of FinTech Adoption for Sustainability from Bank Consumers’ Perspective: The Moderating Role of Fear of COVID-19," Sustainability, MDPI, vol. 14(14), pages 1-24, July.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Sujeeth Ungratwar & Dipasha Sharma & Satish Kumar, 2025. "Mapping the digital banking landscape: a multi-dimensional exploration of fintech, digital payments, and e-wallets, with insights into current scenarios and future research," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 12(1), pages 1-22, December.
    2. Soomro, Zainab & Siddiqui, Danish Ahmed, 2026. "Sources of Intentions Behind Religious Commitment and Adoption of Green Banking: The Mediatory Role of Consumer Eco-Consciousness Complemented by Security and Privacy, Customer Awareness, and System Quality," EconStor Preprints 341023, ZBW - Leibniz Information Centre for Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Bindu Singh & Anugamini Priya Srivastava & Sheshadri Chatterjee & Pavol Durana & Tomas Kliestik, 2025. "Assessing digital capability for twin transition and profitability: From firm and people perspectives with leadership support as moderator," Business Ethics, the Environment & Responsibility, John Wiley & Sons, Ltd., vol. 34(4), pages 1121-1140, October.
    2. N.G. Vovchenko & S.S. Galazova & A.A. Sopchenko & O.S. Dzhu, 2019. "FinTech Ecosystem as an Instrument of Sustainable Development Provision," International Journal of Economics & Business Administration (IJEBA), International Journal of Economics & Business Administration (IJEBA), vol. 0(Special 2), pages 147-155.
    3. Prince Hikouatcha & Alain Gilles Tagne Foka & Armand Depesquidoux Fossi & Simplice A Asongu, 2024. "Empirical investigation of the Fintech and financial literacy nexus: Small business managers’ insights in Cameroon," African Journal of Science, Technology, Innovation and Development, Taylor & Francis Journals, vol. 16(2), pages 219-237, February.
    4. Mustafa Tevfik Kartal & Dilvin Taşkın, 2026. "Impact of supply chain logistics and green transportation on green economics under green finance, oil price shocks, and geopolitical risk: evidence from the globe via novel quantile methods," Financial Innovation, Springer;Southwestern University of Finance and Economics, vol. 12(1), pages 1-25, December.
    5. Vikas Sharma & Ramona Rupeika-Apoga & Tejinder Singh & Munish Gupta, 2025. "Sustainable Investments in the Blue Economy: Leveraging Fintech and Adoption Theories," JRFM, MDPI, vol. 18(7), pages 1-28, July.
    6. Trotta, Annarita & Rania, Francesco & Strano, Eugenia, 2024. "Exploring the linkages between FinTech and ESG: A bibliometric perspective," Research in International Business and Finance, Elsevier, vol. 69(C).
    7. Ashutosh Samadhiya & Anil Kumar & Jose Arturo Garza-Reyes, 2023. "Circular and Digital Systems in SMEs: An Assessment of the Past and Present Literature for Future Research Directions," International Journal of Global Business and Competitiveness, Springer, vol. 18(2), pages 114-127, December.
    8. repec:rfh:bbejor:v:13:y:2025:i:3:p:450-458 is not listed on IDEAS
    9. Jefferson Leandro Schmidt & Simone Sehnem & Juliano Danilo Spuldaro, 2024. "Blockchain and the transition to the circular economy: A literature review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(3), pages 2010-2032, May.
    10. Galeone, Graziana & Ranaldo, Simona & Fusco, Antonio, 2024. "ESG and FinTech: Are they connected?," Research in International Business and Finance, Elsevier, vol. 69(C).
    11. Abderahman Rejeb & Karim Rejeb & Suhaiza Zailani & Yasanur Kayikci & John G. Keogh, 2023. "Examining Knowledge Diffusion in the Circular Economy Domain: a Main Path Analysis," Circular Economy and Sustainability, Springer, vol. 3(1), pages 125-166, March.
    12. Zahoor, Nadia & Zopiatis, Anastasios & Adomako, Samuel & Lamprinakos, Grigorios, 2023. "The micro-foundations of digitally transforming SMEs: How digital literacy and technology interact with managerial attributes," Journal of Business Research, Elsevier, vol. 159(C).
    13. Favourate Y. Mpofu, 2024. "Industry 4.0 in Finance, Digital Financial Services and Digital Financial Inclusion in Developing Countries: Opportunities, Challenges, and Possible Policy Responses," International Journal of Economics and Financial Issues, Econjournals, vol. 14(2), pages 120-135, March.
    14. Jackline Kapukha & Muathe Stephen Makau, 2023. "Strategic positioning and is it a useful construct in improving performance of microfinance institutions in Kenya," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 12(7), pages 136-152, October.
    15. Zhao, Haifeng & Khaliq, Nosherwan, 2024. "In quest of perceived risk determinants affecting intention to use fintech: Moderating effects of situational factors," Technological Forecasting and Social Change, Elsevier, vol. 207(C).
    16. Zhang, Yanying & Zheng, Kengcheng & Xia, Fei & Cheng, Zhengtao, 2024. "Fintech, natural resource rents, renewable energy consumption and environmental quality: A perspective of green economic recovery from BRICS economies," Resources Policy, Elsevier, vol. 89(C).
    17. Naeem, Muhammad Abubakr & Gul, Raazia & Arfaoui, Nadia & Bakry, Walid & Bhatti, Muhammad Ishaq, 2025. "Riding the storm: AI-driven spillover effects across technology, commodities, and conventional markets," Pacific-Basin Finance Journal, Elsevier, vol. 93(C).
    18. Johannes Treu, 2023. "The Chance of FinTech to be a New General-Purpose Technology," International Business Research, Canadian Center of Science and Education, vol. 16(11), pages 1-22, November.
    19. Saumyaranjan Sahoo & Ashwani Kumar & Sachin Kumar Mangla & Alessio Ishizaka, 2025. "Examining the Effects of Industry 4.0 Adoption, Information Acquisition Capability, and Organizational Ambidexterity on Innovation and Circular Economy Performance," Business Strategy and the Environment, Wiley Blackwell, vol. 34(2), pages 1590-1606, February.
    20. Alessandra Neri & Marta Negri & Enrico Cagno & Simone Franzò & Vikas Kumar & Tommaso Lampertico & Carlo Andrea Bassani, 2023. "The role of digital technologies in supporting the implementation of circular economy practices by industrial small and medium enterprises," Business Strategy and the Environment, Wiley Blackwell, vol. 32(7), pages 4693-4718, November.
    21. Ul-Durar, Shajara & De Sisto, Marco & Arshed, Noman & Naveed, Shabana & Farooqi, Madiha Rehman, 2024. "FinTech adoption in achieving ecologically sustainable mineral management in Asian OBOR countries – A cross-section and time autoregressive robust analysis," Resources Policy, Elsevier, vol. 91(C).

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jecomi:v:12:y:2024:i:3:p:54-:d:1343956. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager The email address of this maintainer does not seem to be valid anymore. Please ask MDPI Indexing Manager to update the entry or send us the correct address (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.