Impact of green banking awareness on green FinTech adoption: a way towards profitable and sustainable practices

Purpose - The emergence of green banking (GB) as a pivotal force in fostering environmentally and socially responsible economic practices has gained significant traction in recent years. This paradigm shift within the banking sector advocates for the rise of Green financial technology (Fintech), serving as a catalyst for innovative digital tools promoting environmental, social and governance (ESG) investments and sustainable banking practices. This study aims to investigate the impact of green banking awareness (GBA) on green FinTech adoption (GFA) further affecting ESG investments, perceived profitability (PP) and sustainable banking (SB). Design/methodology/approach - The study employed a quantitative approach, utilizing partial least squares-structural equation modeling (PLS-SEM) to analyze data collected through an online administered questionnaire. The sample comprised registered users of various FinTech products and services in the North Indian regions, with 196 respondents. Findings - The study identified a significant positive relationship between GBA and GFA, suggesting that heightened awareness of green banking positively influences the adoption of sustainable FinTech solutions. Additionally, GFA was found to be positively associated with increased ESG investments, perceived profitability and sustainability of personal investment portfolios. These findings underscore the potential of GFA to drive financial empowerment and environmental responsibility. Originality/value - This research contributes to the concept and application of ESG-driven investments at the individual level. It provides a new discourse and proposes an Eco-Ed nexus framework focusing on strategic insights for stakeholders, guiding the implementation of transformative measures to advance sustainable finance and green economic growth.