The rapid growth of technology and the widespread use of smartphones are transforming how people access financial services. Fintech companies continue to innovate, offering customized products and services for both individuals and small-to-medium enterprises (SMEs). These innovations support Indonesia’s ambitious goal of achieving 90% financial inclusion by 2024.
During the Covid-19 pandemic, when traditional economic activities were restricted, access to digital financial products through Fintech became even more critical for SMEs. This study, using an extended Technology Acceptance Model (TAM), investigates the key drivers of Fintech adoption among Indonesian SMEs during the outbreak.
Based on survey data from 415 SME respondents, analyzed with Smart-PLS 3.0, the findings confirm that perceived usefulness, perceived ease of use, government support, trust, and user innovativeness all have a direct positive influence on adoption intention. Moreover, financial literacy was found to indirectly affect adoption through user innovativeness, highlighting that even SMEs with lower financial literacy can benefit from Fintech solutions.
This underscores Fintech’s potential to bridge financial inclusion gaps, making financial services more accessible for SMEs in developing economies. The study also recommends that policymakers strengthen Fintech business infrastructure to further improve SMEs’ access to financial services.
👉 Read the full article here to explore the detailed findings and their implications