Commonwealth Countries: Driving FinTech Innovation

Abstract

The aim of this publication is to provide an evidence-based approach to financial innovations and their impact on the attainment of the Sustainable Development Goals and other areas of development. The report finds that FinTech leads to economic growth and improved economic performance, with increased contributions from the financial sector and e-commerce turnover. FinTech innovations, such as mobile money, have been found to reduce poverty and income inequality and reduce the rural-urban income gap, while increasing financial inclusion.