Actually, it is not "hearing the word of God", it is "hearing BY the word of God". Nevertheless, what is significant is not that it is our faith saves, instead, it is Christ's faith alone that saves.
[Mat 13:15-16 KJV]
15 For this people's heart is waxed gross, and [their] ears are dull of hearing, and their eyes they have closed; lest at any time they should see with [their] eyes, and hear with [their] ears, and should understand with [their] heart, and should be converted, and I should heal them.
16 But blessed [are] your eyes, for they see: and your ears, for they hear.