The challenge of digital financial literacy in the field of fintech (industry 4.0)

Abstract

Objective: the main objective of the article is to analyze the level of digital financial culture or digital financial literacy of students in Spanish universities within the framework of Industry 4.0. A new original measure is included to measure the degree of digital financial literacy, based on an ad-hoc questionnaire. Methodology: a survey was designed based on the recommendations given in the most current literature. The questionnaire was applied during the second half of March 2021 to a sample of 308 students in Spanish universities. Results: the research provides a good approximation of the level of digital financial literacy (DFL) of students in Spanish universities and its classification by financial competence groups. Variable results are expected depending on the knowledge and use of the financial product they are asked about, which could indicate the existence of an early digital financial literacy gap within the same group of students. Limitations: it would be interesting to carry out similar research in other developing countries similar to Spain in order to make a comparison. In addition, in subsequent research, students from different degrees could be distinguished within the sample to assess the comparison between the results obtained.