Understanding FinTech Gender Gap: A Survey on Financial Literacy, Inclusion and FinTech Use ()
ABSTRACT
It is well known that the gender gap in financial
literacy and inclusion exists. In recent years, financial technology (FinTech)
has boomed. However, less data is available in the existing literature on the
FinTech gender gap. This research aims to understand gender differences in
financial literacy and inclusion, FinTech awareness and use, and explore other
factors that influence financial literacy and inclusion. A Qualtrics survey
questionnaire was distributed to a convenience sample over social media
(WhatsApp) to urban people in India, Singapore, and other countries. Fully
completed surveys were analyzed in Excel. Descriptive statistics are used to
compare the proportions, while one-way ANOVA is used to compare gender
differences, and regression when more variables are compared on the outcome
variable. A total of 181 (females 106 and males 75) complete responses were
included in the analysis. The results showed no significant gender differences
in financial literacy and inclusion. However, education significantly affected
financial literacy. Overall, FinTech awareness and usage was lower among
females, and significant gender differences were seen in Fintech awareness and
frequency of FinTech usage. The survey shows a significant gender gap in
FinTech awareness and usage even among urban residents. More research is needed
to understand barriers to FinTech usage among women. Empowering women through
financial education, and policies are needed to reduce the gender gap.
Share and Cite:
Ram, A. (2023) Understanding FinTech Gender Gap: A Survey on Financial Literacy, Inclusion and FinTech Use.
Open Journal of Business and Management,
11, 3518-3538. doi:
10.4236/ojbm.2023.116192.
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