Understanding Evolution, Development, and Transitioning of Digital Financial Inclusion

Abstract

Different countries across the globe are trying hard to address the challenges of poverty alleviation. Various studies conducted in the past have highlighted the essence of financial inclusion in poverty alleviation. Adoption of financial inclusion acts as a major trigger for developing countries to foster economic growth as it helps in fostering saving, investment, and helps society in attaining financial independence. Economies across the globe are striving hard to accomplish sustainable development goals. The speedy compliance with SDG goals can only be realized through the adoption of ICT. Some of the SDG goals like reduced inequalities (SDG10), quality education (SDG 4), and industry innovation and infrastructure (SDG 9) cannot be attained without the adoption of technology. Effective blend of technology helps countries in achieving targets like digital financial inclusion, digital education, advanced healthcare services, green energy, and addressing other climate related issues. Financial inclusion consists of providing sufficient access to a diverse range of financial products and services. In an era of information technology, digital transformation has brought a major shift in demand and supply side of financial inclusion. In order to understand the progress of the past 23 years in digital financial inclusion, the study has conducted a systematic review and bibliometric analysis of digital financial inclusion domain. The study intends to explore the present status of digital financial inclusion, most prominent studies published in this domain, influential countries, influential authors, and collaborative tendencies between authors. Through Biblioshiny R and Vos-viewer software, the study intends to conduct temporal analysis of influential authors and countries as it helps to understand the emergence of new researchers, institutions, and countries over a time. The study also intends to explore thematic analysis of digital financial inclusion domain, influential theories derived from literature, and assessment of influential studies published for the past 23 years. In the final phase, the study intends to propose various antecedents of digital financial inclusion that have been identified through in-depth scrutiny of literature.