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International Journal of Research in Management

Vol. 7, Issue 1, Part A (2025)

Financial technology as a precursor to financial inclusion innovations

Author(s):

Rahul Kanaujiya and Himanshu Shekhar Singh

Abstract:

The rapid advancement of financial technology, commonly referred to as Fintech, has significantly altered the financial services landscape, thereby facilitating significant progress in the field of financial inclusion worldwide. The term “fintech” denotes a disruptive force that employs digital financial platforms and information technology to provide financial services to underserved regions. This study examines the significant impact of financial technology advancements on the expansion of financial services to marginalized communities. In order to investigate the manner in which these technologies eliminate the conventional obstacles that impede access to financial services, a comprehensive evaluation of current advancements, such as blockchain technology, digital payments, mobile banking, and peer-to-peer lending, is conducted. The study emphasizes the potential of blockchain technology to improve the transparency and security of financial transactions, the convenience and accessibility of digital payments in promoting economic participation, and the role that mobile banking plays in providing banking services to populations in remote areas that lack bank accounts. The data for this study was collected by sending online questionnaires to 486 fintech users in April and May of 2024. The smartPLS 3.0 program was employed for route modelling and data analysis. The results indicate that the innovativeness of consumers is a significant factor in determining the adoption of financial technology in India, both directly and indirectly. Additionally, it was demonstrated that the adoption of Fintech was significantly influenced by the attitude of consumers. Contrary to common perception, financial literacy is not the paramount element influencing the adoption of Fintech. This indicates that the use of Fintech necessitates a diminished degree of financial acumen and the capacity to engage with persons who are unbanked or have a restricted understanding of financial principles.

Pages: 53-59  |  71 Views  20 Downloads


International Journal of Research in Management
How to cite this article:
Rahul Kanaujiya and Himanshu Shekhar Singh. Financial technology as a precursor to financial inclusion innovations. Int. J. Res. Manage. 2025;7(1):53-59. DOI: 10.33545/26648792.2025.v7.i1a.268
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