Fintech and South Korean seniors: A study of factors affecting acceptance of Fintech

By Sa-Rang Um, Hye-Ri Shin, Young-Sun Kim, Gurvan Branellec, Ji-Yong Lee

This paper investigates the determinants of the adoption of Fintech technology by seniors. Technology acceptance models rooted on a diversity of theories. This study uses the technology acceptance model (TAM) as a basis of the theoretical framework. Our model includes the variables of perceived usefulness, ease of use, accessibility, affordability, personal innovativeness and uncertainty. The study used a structural equation method with a sample of 457 Korean seniors. Data was analyzed by using SPSS Statistics and AMOS 18. The findings indicate that individual adoption of Fintech technology is influenced by four variables- perceived usefulness, ease of use, personal innovativeness and uncertainty. However, accessibility and affordability have no statistical significance on the intention to use fintech. This study has implications for Fintechs since it can allow them to adapt their solutions to this market segment or even to develop products adapted to seniors (online life insurance, wealth and succession management solutions, etc.).
JEL Codes: G20, O3, O33

  • Fintech
  • Technology Acceptance
  • Seniors
  • South Korea
Go to the article on