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Fintech Adoption Factors: A Study on an Educated Romanian Population

Author

Listed:
  • Lucian Belascu

    (Department of Management, Marketing and Business Administration, Lucian Blaga University of Sibiu, 550024 Sibiu, Romania)

  • Corina Anca Negut

    (Department of International Business and Economics, Bucharest University of Economic Studies, 010374 București, Romania)

  • Zeno Dinca

    (Department of International Business and Economics, Bucharest University of Economic Studies, 010374 București, Romania)

  • Cosmin Alin Botoroga

    (Department of International Business and Economics, Bucharest University of Economic Studies, 010374 București, Romania)

  • Dan Gabriel Dumitrescu

    (Department of International Business and Economics, Bucharest University of Economic Studies, 010374 București, Romania)

Abstract

Even though the literature implies that customers and banking organizations can profit from digital banking in various ways, client adoption of this service is still low, especially in emerging and developing nations. Consumers’ openness to digital services limits their willingness to adopt digital banking, especially mobile banking services. We used a quantitative research method based on a questionnaire sent during August–December 2022 to Romanian individuals and received 118 answers, which we analyzed using the logistic regression model; throughout, we determined the extent of mobile banking use, payments, and banking products needed within the population with tertiary education, as well as new developments that the shift to digitalization brings to users, with new features for existing products, cryptocurrency accounts, and fintech companies now being complementary to traditional banks. Our study presents current customer perceptions of implementing bank digitalization through mobile applications in a developing nation like Romania; here, advantages are counterbalanced by limitations and there are, undoubtedly, difficulties to be overcome in the quest for a more effective e-business framework. We determined the factors that are relevant in making people use fintech accounts using logit analysis.

Suggested Citation

  • Lucian Belascu & Corina Anca Negut & Zeno Dinca & Cosmin Alin Botoroga & Dan Gabriel Dumitrescu, 2023. "Fintech Adoption Factors: A Study on an Educated Romanian Population," Societies, MDPI, vol. 13(12), pages 1-31, December.
    • Handle: RePEc:gam:jsoctx:v:13:y:2023:i:12:p:262-:d:1302648
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    References listed on IDEAS

    as
    1. M. M. Naeser Seldal & Ellen K. Nyhus, 2022. "Financial Vulnerability, Financial Literacy, and the Use of Digital Payment Technologies," Journal of Consumer Policy, Springer, vol. 45(2), pages 281-306, June.
    2. Tasadduq Imam & Angelique McInnes & Sisira Colombage & Robert Grose, 2022. "Opportunities and Barriers for FinTech in SAARC and ASEAN Countries," JRFM, MDPI, vol. 15(2), pages 1-37, February.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Catalin Dumitrescu, 2025. "CBDC Stress Test in a Dual-Currency Setting," Papers 2511.13384, arXiv.org, revised Dec 2025.
    2. Rahmat Nurcahyo & Anton Satria Prabuwono & Intan Novita Dewi & Farizal & Nurhadi Wibowo & Muhammad Habiburrahman & Khairi Hindriyandhito & Yeong Min Jang, 2025. "Enhancing Digital Wallet Services Based on Electronic Word of Mouth Using Social Media Reviews," SAGE Open, , vol. 15(3), pages 21582440251, July.

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