Panayiotis C. Andreou|Sofia Anyfantaki
Financial literacy and its influence on internet banking behavior
Cyprus University of Technology|Durham University
paper presents survey results financial literacy among cypriot adults reports financial aptitude behaviour additionally investigates first time implications financial literacy respondents usage digital financial services particularly internet banking ibanking focus cyprus country experienced unprecedented financial crisis 2013 resulted bailin enormous subsequent shrinkage banking sector cypriot consumers face everincreasing need financial sophistication effectively utilise manage digital banking services neverthless financial literacy still low cyprus whereby 3733 survey respondents showed proficiency financial knowledge findings indicate statistically positive relationship levels financial knowledge frequency ibanking use importantly financially illiterate consumers appear report far often financially literate peers lack trust ibanking well lack selfconfidence financial digital skills main reasons using service findings highlight interplay financial literacy digital proficiency implication individuals use ibanking services