Examining the influence of socio-demographic factors on financial services awareness and usage: A study of community groups in Yemen

This study investigates the awareness, adoption, and usage of various financial services, including insurance, chequebook use, ATM services, mobile banking applications, wallet-based payments, and USSD-based payments—among different community groups in Yemen. Data was collected from participants across diverse sociodemographic backgrounds, including university students, self-employed individuals, and labourers from both rural and urban settings. The research aims to assess awareness levels of financial services, identify factors influencing their usage, and evaluate the role of financial literacy in financial service adoption. Additionally, it examines the relationship between digital access and financial services usage, as well as the impact of trust and perceived security on adoption rates. Findings reveal significant differences in financial service usage among community groups, with income type, age, and educational attainment playing important roles. The results highlight that higher educational levels and increased trust in digital systems positively correlate with the adoption of digital payment methods, such as wallet-based and USSD payments. This study underscores the importance of enhancing financial literacy and addressing security concerns to promote greater financial inclusion across Yemen’s diverse communities.