The Influence of Technology Adoption on Retail Investor Behaviour: An Empirical Study of Trading Applications, Robo-Advisors, Mobile Banking, and Digital Information Sources

Abstract

This study focus on how the adoption of financial technology such as — trading applications, robo-advisors, and mobile banking —  are shaping the investment behaviour and decision-making confidence of retail investors, The study aim to focus on : (1) assessment of the extent of technology's influence on core investment decisions, (2) examining the relationship between technology adoption and short-term investment orientation, and (3) examining the relationship between technology adoption and investors' confidence in digital information and trading platforms. By implying a structured questionnaire designed to judge retail investors decision pattern and analysed on a representative random sub-sample of 100 complete, the study measures six composite constructs: Trading Application Influence (TAI), Robo-Advisor Influence (RAI), Mobile Banking Influence (MBI), Short-Term Behaviour Shift (STB), Digital Information & Confidence (ICD), and Platform Confidence & Reliance (PCR).

All constructs demonstrated strong internal consistency (Cronbach's alpha ranging from 0.86 to 0.97). Results show that a composite Technology Adoption Index is strongly and positively correlated with short-term investment orientation (r = 0.88, p < 0.001), digital information-based confidence (r = 0.82, p < 0.001), and platform reliance (r = 0.88, p < 0.001). Multiple regression confirms that trading applications, robo-advisors, and mobile banking each make a significant independent contribution to the shift toward short-term trading behaviour (Adjusted R² = 0.77, F = 111.0, p < 0.001). A supplementary check reflects no statistically significant differences in technology adoption across gender, age group, or investing experience, suggesting that fintech-driven behavioural change cuts broadly across demographic segments. The findings carry implications for investor education, platform design, and financial-market regulation in digitally intermediated retail investing.