Factors Influencing the Adoption of Digital Banking: Generation Z in Surabaya
DOI:
https://doi.org/10.38035/jafm.v6i2.1915Keywords:
Digital Financial Literacy, Digital Banking, Gen Z, SurabayaAbstract
The study titled "Factors Influencing the Adoption of Digital Banking: Generation Z in Surabaya" examines the influence of digital financial literacy comprising financial knowledge, financial behavior, and financial attitude on the interest in adopting digital banking services among Generation Z in Surabaya. A quantitative research method was employed using a survey approach. The respondents consisted of 115 individuals aged 18–28 years in Surabaya, selected through purposive sampling. Data were collected via online questionnaires and analyzed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method with SmartPLS. The results indicate that financial behavior and financial attitude significantly influence the interest in using digital banking, while financial knowledge shows no significant effect. These findings offer valuable insights for digital banking service providers to tailor strategies that align with the financial behavior and preferences of young users.
References
Amon, A., Jagri?, T., & Oplotnik, Ž. J. (2024). The neobanks and sustainability. Journal of Infrastructure, Policy and Development, 8(9), Article 9. https://doi.org/10.24294/jipd.v8i9.7623
Artama, D. P., Nurjanah, R., & Amzar, Y. V. (2024). Determinan permintaan deposito berjangka di Indonesia. Jurnal Paradigma Ekonomika, 19(1), Article 1. https://doi.org/10.22437/jpe.v19i1.26805
Bank Indonesia, B. I. (2024). BI-Rate. https://www.bi.go.id/id/statistik/indikator/bi-rate.aspx
Bruggemann, R., Koppatz, P., Carlsen, L., & Scholl, M. (2024). Cyberattacks: An Attempt to Obtain a Multidimensional Awareness Indicator. Qeios. https://doi.org/10.32388/WFF5TJ
Choung, Y., Pak, T.-Y., & Chatterjee, S. (2025). Digital Financial Literacy and Life Satisfaction: Evidence from South Korea. Behavioral Sciences, 15(1), Article 1. https://doi.org/10.3390/bs15010094
Danso, K. (2019). Assessing Financial Literacy of Pensioners in Ghana [University of Ghana]. http://ugspace.ug.edu.gh/handle/123456789/32606
Frimpong, S. E., Agyapong, G., & Agyapong, D. (2022). Financial literacy, access to digital finance and performance of SMEs: Evidence From Central region of Ghana. Cogent Economics & Finance, 10(1), 2121356. https://doi.org/10.1080/23322039.2022.2121356
Gautam, R. S., Rastogi, S., Rawal, A., Bhimavarapu, V. M., Kanoujiya, J., & Rastogi, S. (2022). Financial Technology and Its Impact on Digital Literacy in India: Using Poverty as a Moderating Variable. Journal of Risk and Financial Management, 15(7), Article 7. https://doi.org/10.3390/jrfm15070311
Hoang, V. H., Phan, L. H. T., & Hanoi International School, Hanoi, Vietnam. (2024). Digital Banking Adoption and Financial Inclusion in Vietnam: A Multi-Dimensional Analysis of User Perceptions and Socioeconomic Factors. Journal of Economics, Finance And Management Studies, 07(10). https://doi.org/10.47191/jefms/v7-i10-38
Islam, K. M. A., Hasan, Z., Tawfiq, T. T., Bhuiyan, A. B., & Faisal-E-Alam, M. (2024). Bank becomes cashless: Determinants of acceptance of mobile banking (fintech) services among banking service users. Banks and Bank Systems, 19(2), 30–39. https://doi.org/10.21511/bbs.19(2).2024.03
Issahaku, I., Kuada, E., Kumah, P., & Yaokumah, W. (2024). Determinants of Continual Use of Mobile Banking Applications: An Integrated Theoretical Perspective. In Exploring Global FinTech Advancement and Applications (pp. 19–41). IGI Global Scientific Publishing. https://doi.org/10.4018/979-8-3693-1561-3.ch002
J. F. Hair, G. T. M. Hult, C. M. Ringle and M. Sarstedt, A primer on partial least squares structural equation modeling (PLS-SEM), 2nd ed., Thousand Oaks: SAGE Publications, Inc, 2017.
Kamble, A. P. (2024). V App: E College System for Blind Students. INTERANTIONAL JOURNAL OF SCIENTIFIC RESEARCH IN ENGINEERING AND MANAGEMENT, 08(05), 1–5. https://doi.org/10.55041/IJSREM34608
Koskelainen, T., Kalmi, P., Scornavacca, E., & Vartiainen, T. (2023a). Financial literacy in the digital age—A research agenda. Journal of Consumer Affairs, 57(1), 507–528. https://doi.org/10.1111/joca.12510
Koskelainen, T., Kalmi, P., Scornavacca, E., & Vartiainen, T. (2023b). Financial literacy in the digital age—A research agenda. Journal of Consumer Affairs, 57(1), 507–528. https://doi.org/10.1111/joca.12510
Li, P., Li, Q., & Du, S. (2024). Does digital literacy help residents avoid becoming victims of frauds? Empirical evidence based on a survey of residents in six provinces of east China. International Review of Economics & Finance, 91, 364–377. https://doi.org/10.1016/j.iref.2024.01.056
Limilia, P., Gelgel, R. A., & Rahmiaji, L. R. (2022). Digital Literacy Among Z Generation in Indonesia. European Proceedings of Social and Behavioural Sciences, Rethinking Communication and Media Studies in the Disruptive Era. https://doi.org/10.15405/epsbs.2022.01.02.1
LPS, L. (2024). Apps | Lembaga Penjamin Simpanan. https://apps.lps.go.id/lpsrate/periode
Lusardi, A. (2019). Financial literacy and the need for financial education: Evidence and implications. Swiss Journal of Economics and Statistics, 155(1), 1. https://doi.org/10.1186/s41937-019-0027-5
Mayasari, S. (2025a, February 25). Ini Alasan Bank Digital Masih Tawarkan Bunga Tinggi meski BI Rate Dipangkas. kontan.co.id. https://keuangan.kontan.co.id/news/ini-alasan-bank-digital-masih-tawarkan-bunga-tinggi-meski-bi-rate-dipangkas
Mayasari, S. (2025b, February 26). Bunga Deposito Bank Digital Terbaru, Siapa Paling Tinggi? kontan.co.id. https://keuangan.kontan.co.id/news/bunga-deposito-bank-digital-terbaru-siapa-paling-tinggi
N, A., Mohanty, D. A., & S, D. R. N. H. (2025). Financial Literacy & Digital Banking: An Empirical Study on Customer Satisfaction with Special Reference to Tumkur District. IJFMR - International Journal For Multidisciplinary Research, 7(1). https://doi.org/10.36948/ijfmr.2025.v07i01.35880
Nasruddin, & Murah. (2023). Pengaruh Tingkat Suku Bunga Terhadap Minat Nasabah Untuk Deposito Pada PT. Bank Perkreditan Rakyat Mitra Harmoni Mataram. Journal Ilmiah Rinjani?: Media Informasi Ilmiah Universitas Gunung Rinjani, 11(1), 30–44. https://doi.org/10.53952/jir.v11i1.459
Ngoc Thach, N., Thanh Hanh, H., Ngoc Huy, D. T., Gwozdziewicz, S., Viet Nga, L. T., & Thanh Huong, L. T. (2021). TECHNOLOGY QUALITY MANAGEMENT OF THE INDUSTRY 4.0 AND CYBERSECURITY RISK MANAGEMENT ON CURRENT BANKING ACTIVITIES IN EMERGING MARKETS - THE CASE IN VIETNAM. International Journal for Quality Research, 15(3), 845–856. https://doi.org/10.24874/IJQR15.03-10
Odumuwagun, O. O. (2025). Future of Security in FinTech: Balancing User Privacy, Compliance, and Technological Advancements. International Journal of Research Publication and Reviews, 6(1), 1296–1310. https://doi.org/10.55248/gengpi.6.0125.0317
OECD-2023. (2023). Retrieved March 26, 2025, from https://www.fenetwork.my/wp-content/uploads/2023/12/OECD-INFE-2023.pdf
Pachumwon, T., Rudto, N., Boonkwang, K., Hongthong, B., & Jantakoon, T. (2025). A Bibliometric Analysis of Digital Literacy in Remote Learning. Higher Education Studies, 15(2), Article 2. https://doi.org/10.5539/hes.v15n2p54
Ravikumar, T., Suresha, B., Prakash, N., Vazirani, K., & Krishna, T. A. (2022). Digital financial literacy among adults in India: Measurement and validation. Cogent Economics & Finance, 10(1), 2132631. https://doi.org/10.1080/23322039.2022.2132631
Soenjoto, W. P. P., & Mahmudah, S. N. (2023). Can Indonesia Become A Cashless Society through Digitalization and Financial Literacy? El Barka: Journal of Islamic Economics and Business, 6(2), Article 2. https://doi.org/10.21154/elbarka.v6i2.6960
Sugiyono, S. (2017). Metode penelitian kuantitatif kualitatif dan R dan D / Sugiyono | Perpustakaan Universitas Islam Negeri Sultan Syarif Kasim Riau. https://inlislite.uin-suska.ac.id/opac/detail-opac?id=27259
Surabaya, B. P. S. K. (2023). Jumlah Penduduk Menurut Kelompok Umur dan Jenis Kelamin di Kota Surabaya, 2023—Tabel Statistik. https://surabayakota.bps.go.id/id/statistics-table/3/WVc0MGEyMXBkVFUxY25KeE9HdDZkbTQzWkVkb1p6MDkjMw==/jumlah-penduduk-menurut-kelompok-umur-dan-jenis-kelamin-di-kota-surabaya--2023.html?year=2023
Yue, P., Korkmaz, A. G., Yin, Z., & Zhou, H. (2022). The rise of digital finance: Financial inclusion or debt trap? Finance Research Letters, 47, 102604. https://doi.org/10.1016/j.frl.2021.102604
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Abraham Ivan Kurniawan, Celine Morgan Gemiartha, Jethson Edbert Sudarsono, Joshua Wijaya, Keona Adeline Yusuf, Nanik Linawati
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish their manuscripts in this journal agree to the following conditions:
- The copyright on each article belongs to the author(s).
- The author acknowledges that the Journal of Accounting and Finance Management (JAFM) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
- Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the Journal of Accounting and Finance Management (JAFM).
