THE ROLE OF DIGITAL TRANSFORMATION IN ENHANCING FINANCIAL LITERACY: AN ANALYTICAL STUDY OF THE OPINIONS OF A SAMPLE OF EMPLOYEES AT AL-FURAT AL-AWSAT TECHNICAL UNIVERSITY

Abstract

This research focuses on the relation of digital transformation to employees' financial literacy at Al-Furat Al-Awsat Technical University. The research design was descriptive-analytical due to the use of the questionnaire containing 45 items across five factors of digital transformation and four factors of financial literacy in surveying 106 employees. According to the results, the levels of digital transformation and financial literacy were found to be fairly high (means of 3.956 and 3.949 respectively). Reliability tests indicated very good internal consistency of the measure, as the values of Cronbach's alpha coefficients varied from 0.915 to 0.985. The correlation analysis provided evidence for the positive significance of the link between the factors of digital transformation and financial literacy (r = 0.726). The regression analysis proved that digital transformation is a good predictor of financial literacy (β = 0.855, R² = 0.731); the most important component is 'Digital Security and Risk Awareness' (β = 0.835). The conclusion of the study states that digital transformation has an important role to play in improving financial literacy among university staff. It suggests that upgrading digital infrastructure must be made, digital literacy training programs must be designed, promotion of FinTech adoption among university staff, and further studies should be conducted related to the subject in multiple universities.