WSEAS Transactions on Business and Economics
Print ISSN: 1109-9526, E-ISSN: 2224-2899
Volume 23, 2026
Enhancing Financial Literacy through Innovative Assessment: Development and Evaluation of the FLIA-hub for Business Students
Authors: , ,
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Abstract: This study developed and evaluated FLIA-hub (Financial Literacy Innovative Assessment Hub), a technology-enabled assessment platform for second-year business students. Using a three-phase Design and Development Research process, the study conducted needs analysis, iterative design and development, and a quasi-experimental pretest-posttest evaluation with intervention and control groups (n=60). Results showed that students using FLIA-hub achieved greater financial literacy gains than the control group (+10.25 versus +1.38 points), with significant improvements in engagement, empowerment, satisfaction, confidence, and attitudes toward digital learning. The findings indicate that assessment-centered digital platforms with interactive tasks, real-time feedback, and progress analytics can strengthen financial literacy learning and support students’ ability to apply financial knowledge in decision-making.
Keywords:
Financial literacy, Technology-based assessment, FLIA-hub, Business students, Design and Development Research (DDR), Digital learning, Student engagement, Structural Equation Modeling (SEM)
Pages: 703-716
DOI: 10.37394/23207.2026.23.55