The Dynamics of Fintech Adoption Among Bangladeshi Youth: A UTAUT2 Model Perspective

Bangladesh's rapid economic progress and technological advancement have significantly impacted its financial technology (fintech) sector. This study investigates the factors influencing fintech adoption among Bangladeshi youth, employing the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) model and the Theory of Planned Behavior. The findings reveal that Performance Expectancy, Facilitating Conditions, and Trust positively influence fintech adoption intention, highlighting the importance of user-friendly, reliable, and secure fintech solutions. Interestingly, Social Influence negatively impacts adoption intention, suggesting skepticism towards peer recommendations. The study also finds that Effort Expectancy and Hedonic Motivation do not significantly affect adoption intention, indicating a focus on practicality and utility over ease of use and enjoyment. Service Quality significantly impacts User Behavior, emphasizing the need for high-quality customer service to maintain user engagement. These insights provide valuable guidance for fintech companies aiming to enhance adoption and user satisfaction by focusing on critical factors influencing user perceptions and behaviors. This research expands the UTAUT2 model by incorporating information quality and willingness to pay, offering a comprehensive framework for understanding fintech adoption in developing countries like Bangladesh. Overall, the study enhances the theoretical framework of FinTech adoption by integrating context-specific variables and providing empirical evidence from a developing country perspective. In practical, FinTech companies should invest in customer service training and infrastructure to deliver a positive user experience, fostering long-term user retention.