THE IMPACT OF FINANCIAL LITERACY ON THE INTENTION TO USE COMMERCIAL BANK FINTECH SERVICES AMONG GENERATION Z IN HO CHI MINH CITY

Abstract

This study investigates the key role of financial literacy in shaping the intention to use FinTech services among Generation Z in Ho Chi Minh City. Analyzing data from 406 participants using Structural Equation Modeling (SEM), the study identifies financial literacy as the primary independent driver of intention to use (β = 0.675). To ensure model robustness and isolate the distinct impact of financial literacy, a comprehensive analytical framework was developed, integrating technological and environmental factors. Specifically, perceptions of usefulness, ease of use, and social impact were used as control variables. Notably, the study reveals a "cognitive stimulus" mechanism in which perceived risk and transaction costs, often considered barriers, act as functional constraints that positively contribute to financial literacy. This suggests that awareness of uncertainty and financial costs encourages Generation Z users to engage in proactive self-learning to mitigate potential risks. The research demonstrates that behavioral intentions fundamentally stem from users' financial capacity, even when controlling for overall technology adoption and social factors. Therefore, commercial banks should prioritize integrated digital financial education over traditional promotional strategies to foster a sustainable and resilient FinTech ecosystem.