•  
  •  
 

The Australasian Journal of Information Systems

Author ORCID Identifier

Siddharth Gaurav Majhi
Arindam Mukherjee
Ambuj Anand

Document Type

Research Article

Abstract

Digital financial services (DFS) are reshaping how individuals manage money by embedding real-time tracking, personalised nudges, and frictionless transactions into everyday life. However, research remains largely focused on adoption and current-oriented practices such as short?term usage and immediate convenience, offering limited insight into how DFS can foster users’ future financial lives and financial well-being, especially for young people who are digitally adept but financially precarious. Financial well?being, understood as a sense of security and freedom in meeting present and future financial needs, includes both hedonic, and eudaimonic, toward meaningful goals. It is particularly challenging in youth-focused DFS. Drawing on activity theory, we conceptualise financial well-being as an evolving, practice-based activity rather than a static outcome state and investigate how DFS can be effectively leveraged to cultivate young users’ financial well-being. We conducted a qualitative case study of Enrich, a youth-focused DFS offered by a Taiwanese commercial bank. It repositioned from transactional convenience towards future-oriented tools that support financial responses and practices. We propose a pendulum-like framework of activity systems that captures young users’ oscillation between hedonic and eudaimonic orientations in DFS?mediated practices and helps DFS researchers and designers link usage to longer-term youth financial well-being.

Creative Commons License

Creative Commons Attribution-NonCommercial 4.0 International License
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License

Download

Share

COinS