Fintech Usage and Financial Well-Being: The Mediating Role of Financial Satisfaction

Abstract

Financial technology (fintech) is embedded in everyday financial activity, while its statistical relationship with broader financial well-being is not consistently direct. This study examines the association between fintech usage and financial well-being, with financial satisfaction positioned as a mediator. Data were collected through an online self-administered questionnaire from 90 active fintech users in Indonesia who were at least 18 years old and had used at least one fintech service for a minimum of six months. Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS was used to estimate the measurement and structural models. The measurement model demonstrated adequate reliability, convergent validity, and discriminant validity for all constructs. Fintech usage was positively associated with financial satisfaction, whereas the direct path from fintech usage to financial well-being was not statistically significant. Financial satisfaction was positively associated with financial well-being, and the significant indirect path combined with the non-significant direct path indicates indirect-only mediation. The findings identify financial satisfaction as the statistical intermediary linking fintech usage with financial well-being and provide evidence relevant to financial education and fintech service design.