The effects of financial technology, financial literacy, and income on online loans in Indonesia's millennial generation

Budi Rustandi Kartawinata; Lugyna Asri Mirda; Aldi Akbar; Dyah Maharani

doi:10.1117/12.3011826

19 December 2023 The effects of financial technology, financial literacy, and income on online loans in Indonesia's millennial generation

Budi Rustandi Kartawinata, Lugyna Asri Mirda, Aldi Akbar, Dyah Maharani

Author Affiliations +

Proceedings Volume 12936, International Conference on Mathematical and Statistical Physics, Computational Science, Education and Communication (ICMSCE 2023); 1293616 (2023) https://doi.org/10.1117/12.3011826
Event: International Conference on Mathematical and Statistical Physics, Computational Science, Education and Communication (ICMSCE 2023), 2023, Istanbul, Turkey

Abstract

Currently, there are many online loans in Indonesia because they are very helpful in economic difficulties and are easy to do, especially for the millennial generation. But in the other hand, with the rise of online loans, there are also many individuals who take advantage of the situation by making illegal loan services. This research was conducted to find how financial technology, financial literacy, and income relate to online loans for the millennial generation in Indonesia. The purpose of this research is to determine the effect of how financial technology, financial literacy, and income relate to online loans for the millennial generation in Indonesia in partially and simultaneously. This study uses a quantitative method with a descriptive research type. The sample collection used the nonprobability sampling method and the number of respondents was 400 millennials aged 24-39 years old who used online loans. The analysis technique used is descriptive analysis and multiple linear regression. The result showed that in the descriptive analysis of financial technology 77,71% was included in the good category, 77,7% financial literacy was included in the good category, 82,9% income was included in the good category, and for the online loans 78,72% included in the good category. Partially, financial technology financial literacy, and income have significant effect on online loans for the millennial generation in Indonesia. Simultaneously, there is a significant influence of the financial technology, financial literacy, and income variables on online loans for the millennial generation in Indonesia.

(2023) Published by SPIE. Downloading of the abstract is permitted for personal use only.

Citation Download Citation

Budi Rustandi Kartawinata, Lugyna Asri Mirda, Aldi Akbar, and Dyah Maharani "The effects of financial technology, financial literacy, and income on online loans in Indonesia's millennial generation", Proc. SPIE 12936, International Conference on Mathematical and Statistical Physics, Computational Science, Education and Communication (ICMSCE 2023), 1293616 (19 December 2023); https://doi.org/10.1117/12.3011826

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KEYWORDS

Analytical research

Internet

Data processing

3D modeling

Amplifiers

Industry

Linear regression

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