Affiliation:
1. Lovely Professional University, India
2. Mody University of Science and Technology, India
3. Presidency University, India
4. Parul University, India
Abstract
Digital innovations are transforming financial services, influencing consumer behavior and personal money management. The rapid adoption of digital technologies offers individuals convenient access to financial services, presenting both opportunities and challenges. This study explores the impact of digitalization on financial literacy and capability, revealing three key themes: Fintech, financial behavior in digital environments, and behavioral interventions. Based on these insights, we propose strategies for measuring digital financial literacy, updating curricula, and developing digital learning tools. We also highlight the need for collaboration between public and private sectors to promote a fair and inclusive economic system. Our study contributes to existing research by introducing a framework for digital financial literacy and financial capability, while outlining a research agenda to guide future studies in this evolving field.