Fintech Innovation, Adoption, And Financial Decision-Making: A Study of Swedish Consumers

Abstract

Fintech, or financial technology, has significantly transformed financial services in Sweden by enhancing convenience, accessibility, and efficiency for consumers. Despite Sweden's advanced digital financial ecosystem, limited research has examined the factors influencing fintech adoption and its impact on consumer behavior. This study investigates the relationship between fintech innovation and consumer behavior, focusing on the mediating and moderating roles of trust, adoption, and financial decision-making. Using a sample of 228 Swedish consumers, data were collected through validated Likert-scale questionnaires and analyzed using SPSS and Excel through descriptive statistics, ANOVA, and regression analysis. Guided by a positivist philosophy and an inductive research approach, the study found a significant positive relationship between fintech innovation and consumer behavior. However, trust was found to have no significant mediating effect between fintech adoption and financial decision-making, nor a significant moderating effect on the relationship between fintech innovation and financial decision-making. The findings suggest that fintech adoption positively influences consumer behavior in Sweden, while trust plays a limited role in shaping financial decision-making. These results challenge existing literature and indicate that factors such as convenience and functionality may outweigh trust concerns in highly digitalized financial environments. The study highlights the need for further qualitative research to explore individual experiences and contextual factors affecting fintech adoption and financial behavior.