The presented research holds several academic and theoretical implications that contribute to the

existing body of knowledge in finance, technology adoption, and investment behavior. Here are
some key academic and theoretical implications:

1. Technology Acceptance Model (TAM) and Investment Behavior:

 TAM Extension: The research extends the application of the Technology Acceptance Model
(TAM) to the context of online investment applications, specifically BIBIT. This extension
provides insights into how perceived ease of use and perceived usefulness influence users'
attitudes and continuous intention to use investment apps, contributing to the evolving
understanding of technology adoption in the financial domain.

2. Factors Influencing Investment Behavior:

 Comprehensive Framework: The study introduces a comprehensive framework that

includes factors beyond TAM, such as perceived risk, trust, and financial literacy, to
understand investment behavior. This expansion enhances the richness of existing models
and provides a more holistic view of the complex dynamics influencing users' attitudes and
intentions in the context of online investment.

3. Financial Literacy and Investment Decision-Making:

 Role of Financial Literacy: The research highlights the nuanced relationship between
financial literacy and investment behavior. It suggests that financial literacy not only impacts
users' knowledge but also plays a crucial role in shaping attitudes and intentions, providing a
deeper understanding of how financial education contributes to investment decision-
making.

4. Trust and Regulatory Approval:

 Impact of Trust and Regulatory Approval: The study emphasizes the role of trust and
regulatory approval (such as OJK approval) in influencing users' attitudes and intentions. This
insight adds to the literature on the significance of trust in financial services and the
regulatory environment's impact on user perceptions in the context of digital financial
platforms.

5. Security Measures and User Confidence:

 Biometric Technology and Security Measures: By exploring the role of biometric technology
and other security measures implemented by BIBIT, the research contributes to the
understanding of how advanced security features enhance user confidence and mitigate
perceived risks associated with online investment platforms.

6. Financial Market Participation Gap:

 Working-Age Population Participation Gap: The research sheds light on the participation
gap in the capital market, especially among the working-age population in Indonesia. This
finding is significant for academics, policymakers, and industry stakeholders interested in
addressing the challenges and opportunities associated with increasing financial market
participation.

7. Practical Insights for Policymakers and Industry Stakeholders:

  Practical Recommendations: The study not only identifies factors influencing investment
behavior but also provides practical insights for policymakers and industry stakeholders.
These recommendations can guide the development of strategies to enhance investor
engagement, financial literacy, and overall trust in online investment platforms.

8. Future Research Opportunities:

 Exploration of External Factors: The research identifies a gap in understanding how factors
outside TAM influence the relationship between continuous intention to invest. This opens
avenues for future research to explore the intricate dynamics of individual investment
decision-making processes, considering external factors that may impact user attitudes and
intentions.

In summary, this research contributes to the academic literature by extending existing models,
providing a comprehensive framework, and offering practical insights that can inform future
research directions and guide stakeholders in the financial industry and policymaking.