Financial Inclusion Through FinTech Adoption

Abstract

The emergence of fintech has made it possible for many unbanked individuals worldwide to obtain financial services through digital means. Recently, the COVID-19 health crisis has opened up new possibilities for digital financial services to speed up financial inclusion despite social exclusion. Many national governments have promoted its usage by lowering costs and boosting the transactional limits for digital transactions. In this research, the authors attempted to construct a model for the adoption of fintech in the context of rural India. The goal of this research is to identify the policies and initiatives that best promote the growth of the fintech ecosystem. They also make an effort to pinpoint the qualities of banking systems that are more likely to support fintech in order to collaborate effectively on financial inclusion. The methodology section of this work is built on the ISM-MICMAC technique.