The Role of Digital Financial Literacy in MSMEs: A Systematic Literature Review
DOI:
https://doi.org/10.35134/ekobistek.v14i4.962Keywords:
Business Resilience, Digital Transpormation, Financial Capability, Fintech Adoption, Innovation in MSMEsAbstract
This study aims to explore the role of digital financial literacy in overcoming the challenges faced by MSMEs. By utilizing the PRISMA systematic literature review and meta-analysis method, the study offers a well-organized and thorough analysis to assess the scientific positioning of previous studies. The results show that digital financial literacy has a significant impact on financial management practices within MSMEs. In particular, the level of financial literacy affects MSME actors' ability to save, borrow, and invest effectively. Additionally, the study emphasizes that improving operational knowledge enhances human resource capabilities and competencies, which adds to the growth of intellectual capital. The study also highlights the role of technology-driven digital financial literacy in transforming traditional financial services into more efficient systems. However, MSMEs still face challenges related to risk identification and management, which directly affect business performance. The review also identifies gaps in the existing literature, especially the need for further study of how digital financial literacy can help address ongoing issues like unemployment and regional development inequalities. In conclusion, the study asserts that improving digital financial literacy is important for MSMEs to adapt to the digital era, boost operational efficiency, and maintain their business sustainability amid ongoing challenges
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