How does Digital Finance or E-banking affect individual?
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Digital finance, including e-banking, significantly impacts individuals by enhancing their access to financial services, influencing their income growth, and affecting their financial behavior and risk tolerance. The adoption of digital financial services (DFSs) promotes financial inclusion, providing individuals with affordable products like payments, savings, credit, and insurance. Moreover, digital financial development positively influences residents' income, particularly benefiting rural populations, low-skilled workers, and individuals in basic industries through expanded employment opportunities, improved credit access, and easier information access. Individuals' financial risk tolerance levels and attitudes towards digital financial services play a crucial role in their financial investment decisions, highlighting the importance of understanding and managing risks in digital finance.
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| Papers (5) | Insight |
|---|---|
Open access•Posted Content 6 Citations | Digital finance or e-banking benefits individuals by facilitating easier financial transactions, especially during socio distancing restrictions, enhancing economic activity, and promoting digital literacy among the population. |
| Digital financial services (DFS) enhance financial inclusion by providing access to various financial products like payments, savings, credit, investment, and insurance through digital channels, benefiting individuals and businesses. | |
| Digital finance positively impacts individuals' income by expanding job opportunities, enhancing credit access, and providing online information, benefiting rural and low-skilled workers in China. | |
| Digital finance or e-banking impacts individuals by providing accessible financial services like online banking and secure digital payments, enabling better financial management, decision-making, and transactions for economic development. | |
| Digital finance impacts individuals by influencing their financial risk tolerance and attitudes, which in turn affect their financial investment decisions according to the study in behavioral finance. |
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