Assessing the Role of FinTech in Enhancing Financial Inclusion and Adoption among Students in Academic City University

Abstract

This study examines the impact of Financial Technology (FinTech) on financial adoption and inclusion among undergraduate students at Academic City University in Ghana. The study employs a quantitative research design, with a guided questionnaire being administered to collect data from 128 students, analyzed by descriptive statistics and logistic regression. Key findings reveal that 87.3% of the respondents most often use mobile money services (e.g., MTN MoMo, Vodafone Cash), attributing it to the convenience and ease of access. Digital banking applications (10.3%) and digital wallets (2.4%) are less adopted. Interestingly, 78.45% of the students use FinTech on a daily basis, integrating it into everyday financial activity. Unexpectedly, regression analysis indicates that ease of use perception, trust, security, and demographic factors (age, gender) are not significant predictors of adoption, indicating underlying, untested drivers such as digital literacy or peer influence. The study contributes to the body of literature on how FinTech can bridge financial inclusion gaps for students and presents implications for policymakers, financial institutions, and educators.