The Study on Usage of Banking Technology among Youth

Abstract

Recently, there has been a lot of interest in the adoption and usage of financial technology by young people, including digital payment apps, mobile banking, and online banking. The purpose of this study is to look into the benefits and drawbacks of youth banking technology use. With our study on use of a quantitative research approach, and 109 respondents were selected for the sample via purposeful sampling. A well-crafted questionnaire was used to collect the data, then percentile analysis and Garrett ranking were used to analyze it. The report also identifies the banking technology tools that young people use the most frequently and highlights any areas in which they might not be as knowledgeable as they could be. The findings demonstrate how actively young people use financial technology and how interested they are in online shopping, money transfers, and bill payment. However, a lot of youthful consumers are concerned about the privacy and security of their financial data. Financial organizations, legislators, and researchers can use the information in these studies to gain a better understanding of how young people use banking technology. They also offer recommendations on how to improve financial literacy, fortify security measures, and close knowledge gaps in order to enable youth to utilize banking technology in a safe and effective way.