The Impact of Digital Financial Literacy on the Financial Behavior of Customers – An Empirical Evidence in Vietnam

Abstract

This study aims to examine the impact of digital financial literacy on the financial behavior of digital banking customers in Ho Chi Minh City, Vietnam. Primary data were collected via a questionnaire survey involving 318 digital banking users, and using Cronbach’s Alpha, EFA, the linear regression revealed that all six factors such as digital financial literacy, digital financial attitude, digital financial control and risk, digital transaction security competence, digital financial confidence, and adoption of new financial technology positively influence customer financial behavior, in which digital financial control and risk exerting the strongest impact. Based on these findings, the study proposes solutions to enhance digital financial competence, strengthen security and risk management, and foster the development of digital banking in Vietnam.