Financial Inclusion in Fintech
DOI: https://doie.org/10.10399/IJBE.2026753692
Dr. R. Blessie Pathmu, Deeshma S, Gugan Bharathy R, Harishpandian R.
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Abstract:
Financial Technology (FinTech) has become a major catalyst in advancing financial inclusion by delivering financial services that are accessible, cost-effective, and technology-driven. This research investigates the influence of FinTech on financial inclusion, concentrating on digital wallets, UPI, neobanks, mobile banking, microloans, and AI-enabled credit evaluation systems. The study aims to evaluate how FinTech reduces the gap faced by unbanked and underbanked individuals, examine awareness and usage patterns of services such as savings, credit, and insurance, identify innovations that promote inclusion, and explore challenges including data security and the digital divide.
Primary data were gathered from 106 respondents and examined using a one-sample t-test through SPSS software. The findings indicate statistically significant results (p < 0.001) across all measured variables, demonstrating a strong positive impact of FinTech on financial inclusion. The null hypothesis claiming that FinTech has not fulfilled the objective of financial inclusion was rejected, confirming its significant contribution toward expanding access to financial services. Furthermore, results related to data protection also showed statistical significance (p < 0.001), supporting the alternative hypothesis that multi-layer authentication mechanisms effectively safeguard user information on FinTech platforms.
Although the outcomes are positive, issues such as limited digital awareness, unequal access to the internet, and apprehensions regarding misuse of data continue to exist. The study concludes that FinTech has considerably strengthened financial inclusion; however, continuous improvements in digital infrastructure, awareness initiatives, and regulatory protection are necessary to build an inclusive and secure financial environment.