Exploring fintech adoption factors and their impact on satisfaction with respect to fintech solutions among woman users in Chennai

Abstract

In recent years, the financial landscape has undergone a significant transformation with the advent of Financial Technology (Fintech) solutions. These technological innovations have not only revolutionized traditional financial services but have also introduced novel avenues for individuals to manage their finances efficiently and conveniently. Among the diverse user base of Fintech solutions, women users, particularly in urban areas like Chennai, have emerged as a significant demographic and understanding the factors influencing the adoption of Fintech solutions among women users is essential for various stakeholders, including financial service providers, policymakers, and researchers. This research aims to explore the various factors that influencing the adoption of Fintech Solutions (Payments, etc.) and their impact on satisfaction among women users in Chennai. This study employs an exploratory approach, utilizing a mixed research methodology that combines qualitative and quantitative methods. The focus is on the user population of fintech solutions such as digital/mobile wallets, digital banking, etc., with a sample of 150 Woman users in Chennai selected through convenience sampling. The researcher employs descriptive and inferential statistical techniques to analyze the data. The study found that Married woman users have more perception on the various fintech adoption factors than Unmarried woman users. “Perceived Usefulness” has strong influence and “Trustworthiness” has weaker influence on Satisfaction of woman users with respect to fintech solutions. Fintech adoption factors have strong positive relationship with Satisfaction of woman users on fintech solutions. It is suggested that Fintech companies should prioritize transparency, security, and ethical practices across all aspects of their operations and should focus on continuously enhancing the functionality, usability, and relevance of their products and services to meet the evolving needs and expectations of women users.