The Application of Financial Technology and Digital Education to Improve Financial Literacy Among Indonesian Millennials

Abstract

The advancement of digital technology has brought about major changes in the way people, especially millennials, access and manage finances. This study aims to analyze how the application of financial technology (fintech) and digital education can improve financial literacy among Indonesian millennials. Using a qualitative approach with a literature study method, this study examines ten relevant and recent scientific articles from credible academic sources. The results of the analysis show that fintech not only facilitates access to financial services but also contributes significantly to shaping more conscious and targeted financial behavior. Applications such as digital wallets, investment platforms, and online loans have helped millennials in planning and managing their daily finances. On the other hand, digital education through social media, e-learning, and interactive content has proven effective in improving understanding of financial concepts and encouraging positive changes in financial attitudes. However, the main challenges still lie in the low distribution of digital literacy and the risk of fintech misuse, especially in terms of illegal online loans and the lack of consumer protection. Therefore, the integration of digital-based financial education and regulatory supervision is important to create an inclusive, smart, and sustainable financial ecosystem for the younger generation. This study provides important implications for the development of educational strategies and public policies in facing the era of digital financial transformation.