Impact of FinTech on Sustainable Development

Pawłowska, Małgorzata; Staniszewska, Aleksandra; Grzelak, Marcin

doi:10.15611/fins.2022.2.05

Cited by 10 publications

(2 citation statements)

References 21 publications

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“…It has the potential to reduce costs, facilitate global connectivity, and enhance financial inclusion. Recognizing its significance, the G20 and the UN have included "Sustainable digital finance" in their workstreams for 2030 (90)(91)(92)(93)(94). Awais et al (22) concluded that FinTech (measured by Internet popularization and Findex) have positive effects on green economic activity while carbon emissions have a negative impact.…”

Section: Fintech Financial Inclusion and Sustainable Development: Wha...mentioning

confidence: 99%

Fintech, financial inclusion, and sustainable development in the African region

Tidjani,

Madouri

2024

Front. Appl. Math. Stat.

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In this study, we explore the nexus between sustainable development and finance, with a specific focus on the African region–a critical yet underexplored context in the existing literature. Against the backdrop of evolving challenges in financial inclusion, improved access, and the growing prevalence of financial technology (FinTech), we aim to fill a research gap by investigating the connection between FinTech, financial inclusion, and sustainable development. The empirical exploration spans 25 African countries from 2011 to 2019, employing econometric methods such as dynamic panel (SGMM two-steps) and static panel (OLS, FE, LSDV). Utilizing key indicators like Adjusted Net Savings (ANS) and Gross Saving rate (GS), our findings reveal a substantial positive impact of financial inclusion and FinTech on sustainable development. However, an intriguing discovery emerges as the interaction between these variables exhibits a weak negative and significant effect. As a unique contribution to the existing literature, we estimate marginal effects at various levels of FinTech and financial inclusion on sustainable development. Beyond insights, our study offers vital policy recommendations, emphasizing the necessity for improved collaboration among financial service providers to avoid redundancy. Furthermore, we highlight the critical need to expand financial infrastructure, advocate for FinTech promotion, and foster inter-African cooperation.

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Section: Fintech Financial Inclusion and Sustainable Development: Wha...mentioning

confidence: 99%

Fintech, financial inclusion, and sustainable development in the African region

Tidjani,

Madouri

2024

Front. Appl. Math. Stat.

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“…The rise of fintech, an amalgamation of finance and technology, demonstrates the increasing utilization of digital SME loans, not limited to rural areas. Digital finance, particularly in the domain of digital payments, has notably transformed the landscape of financial service provision, showcasing remarkable effects (Mills, 2023;Pawłowska et al, 2022;Rowan, 2023).…”

Section: Technology-enhanced Financial Innovation In Rural Areasmentioning

confidence: 99%

Urban-rural polarization: Financial implications, challenges, and opportunities

Mori

2023

JIBE

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This study endeavors to establish a conceptual framework for examining the cross-cultural issues arising from the enduring financial factors contributing to the urban-rural divide. Central to this framework is the notable disparity in available financial services between urban and rural areas. This discrepancy draws attention to the ongoing necessity to combat financial exclusion within agricultural communities. Broadly speaking, it underscores the significance of rural finance, a subset within the financial realm, as a potential means to mitigate the observed polarization. Key factors to be underscored include ongoing technological advancements driving progress in the financial sector and instilling hope in digitization as a catalyst for fostering inclusive finance.

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The Impact of carbon emissions on market performance: fintech versus non-fintech

Najaf,

Ali,

Asiaei

et al. 2024

Electron Commer Res

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This study aimed to examine the impact of Scope 3 carbon emissions on market performance and the moderating effect of financial technology (fintech) on this particular relationship. Empirical data on Scope 3 carbon emissions from 2010 to 2022, which covered both fintech and traditional (non-fintech) financial firms, were collected from Bloomberg. All data were subjected to ordinary least squares (OLS) regression. Generalised method of moments (GMM) was performed to deal with potential endogeneity issues. The significant negative relationship between Scope 3 carbon emissions and market performance in this study implied investors’ concerns about the environmental impacts. With the noticeably lower carbon emissions, indicating the adoption of an eco-friendly orientation, fintech financial firms demonstrated positive relationship between their market performance and Scope 3 carbon emissions. Meanwhile, the results revealed otherwise for non-fintech financial firms. It is recommended for future research to consider the qualitative approach, such as structured or semi-structured interviews, to further validate the quantitative results of the current study. This study demonstrated the significant role of fintech financial firms in environmental stewardship, specifically with their markedly lower Scope 3 carbon emissions. Their approaches and practices can benefit ESG implementors in designing and implementing more effective and responsible operational models. Despite the current global challenges, particularly after the COVID-19 pandemic and the growing environmental awareness and concerns, this study commended the sustainable approaches of fintech financial firms, which served as a benchmark for ESG initiatives. This can potentially boost their ESG ratings and market standing. To date, the relationship between Scope 3 carbon emissions and market performance and the moderating role of fintech on this relationship have remained underexplored, which were addressed in the current study.

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Impact of FinTech on Sustainable Development

Cited by 10 publications

References 21 publications

Fintech, financial inclusion, and sustainable development in the African region

Fintech, financial inclusion, and sustainable development in the African region

Urban-rural polarization: Financial implications, challenges, and opportunities

The Impact of carbon emissions on market performance: fintech versus non-fintech

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