The Potential of FinTech in Enabling Financial Inclusion

Makina, Daniel

doi:10.1016/b978-0-12-814164-9.00014-1

Cited by 69 publications

(57 citation statements)

References 5 publications

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“…Consequently, policies to reduce poverty through the provision of financial access to individuals in rural communities via financial technology should include SMEs to promote greater financial inclusion. As such, the improvement in ICT infrastructure and electricity in rural communities can create the right platform for FinTech service providers to reach SMEs (Chatterjee, 2020;Makina, 2019). Theoretically, the result from Model 2a supports the effect of individual characteristics and business environment on the technology diffusion consistent with TAM, TRA, and TBA (Yousafzai et al, 2010), and the TOE Framework (Depietro et al, 1990).…”

Section: Hierarchical Logistic Regression Estimationmentioning

confidence: 79%

“…This suggests individuals and SMEs can now access varied and affordable financial services to support various ventures. Consequently, the most individuals and SMEs excluded based on geographical location, lack of collateral, gender, level of income, and education can be included using FinTech (Makina, 2019). The inclusion of most individuals and SMEs financially lead to economic growth; evidently, Talom and Tengeh (2020) reveal that SMEs using mobile payment services in Cameroon had higher profitability because it provides funding opportunities.…”

Section: Fintech and Financial Inclusionmentioning

confidence: 99%

“…Indicatively, the current low diffusion of FinTech services in the sub-region requires urgent attention to boost mass diffusion. Accordingly, beyond the diffusion of mobile-based FinTech payment services, Makina (2019) argues that crowdfunding is the viable FinTech service to resolve the funding challenges of SMEs in Africa. Nonetheless, the current diffusion level of crowdfunding remains low because of the relatively higher infrastructural requirement (Yermack, 2018).…”

Section: Fintech and Financial Inclusionmentioning

confidence: 99%

“…Much literature has emerged to investigate the determinants of FinTech payment services diffusion because it contributes significantly to economic development through the provision of financial access and the simplification of settlements for both individuals and businesses in the sub-region (Fanta et al, 2016;Makina, 2019;Yermack, 2018). However, current studies in the subregion focus primarily on the diffusion of FinTech payment services at the peer-to-peer (P2P) level (Batista & Vicente, 2020;Ferguson et al, 2019;Karakara & Osabuohien, 2019;Munyegera & Matsumoto, 2016) with minimal attention on the diffusion of FinTech services at the business level.…”

Section: Introductionmentioning

confidence: 99%

“…A large body of contemporary literature examines FinTech diffusion (BenYishay et al, 2020;Makina, 2019;Munyegera & Matsumoto, 2016;Wamuyu, 2014;Rasheed et al, 2019). Given the importance of SMEs, the study seeks answers to the drivers of FinTech payment services diffusion by SMEs in Sub-Sahara Africa.…”

Section: Introductionmentioning

confidence: 99%

See 4 more Smart Citations

Determinants of FinTech payment services diffusion by SMEs in Sub-Saharan Africa: evidence from Ghana

Coffie

Zhao

Mensah

et al. 2020

Information Technology for Development

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Despite the potency of Financial Technology (FinTech) in facilitating financial inclusion, the determinants of the diffusion in Small and Medium-Sized Enterprises (SMEs) remain intricate. Consequently, the study assesses the determinants of the diffusion of FinTech Payment Services (mobile money, card, and online payments) by SMEs in the context of Ghana. We sample 407 registered SMEs with the Association of Ghanaian Industries (AGI) and employ hierarchical logistic regression models to explore the multiplicative effects of SMEs Chief Executive Officers Characteristics (CEOC), Business Characteristics (BUSC), and FinTech Payment Service Characteristics (FPSC) on the Diffusion of FinTech Payment Services (DFPS). Consistent with the technology diffusion theories, the finding reveals that CEOC, BUSC, and FPSC altogether determines the DFPS in Ghanaian SMEs. Thus, the combined effects of human, business, and technology actors drive the DFPS in SMEs. Therefore, the optimal design of FinTech services is critical for mass diffusion by SMEs in emerging economies.

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Section: Hierarchical Logistic Regression Estimationmentioning

confidence: 79%

Section: Fintech and Financial Inclusionmentioning

confidence: 99%

Section: Fintech and Financial Inclusionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

Determinants of FinTech payment services diffusion by SMEs in Sub-Saharan Africa: evidence from Ghana

Coffie

Zhao

Mensah

et al. 2020

Information Technology for Development

View full text Add to dashboard Cite

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Unveiling financial inclusion dynamics: Fintech's resonance in Association of Southeast Asian Nations (ASEAN)

Ha,

Nguyen,

Nguyen

et al. 2024

Int. J Fin Econ

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This article examines the determinants of financial inclusion in the Association of Southeast Asian Nations (ASEANs), with a particular focus on the role of financial technology (fintech). We constructed an extensive and up‐to‐date Global Financial Inclusion database (2011, 2014, 2017, and 2021) to generate 26,185 observations for seven ASEAN countries over a decade, and conducted a separate case study for Singapore, the region's most financially developed member. The results reveal that financial inclusion and financial technology have experienced robust growth in ASEAN but to varying degrees amongst the member countries. Fintech has a significant impact on financial inclusion over the specified period. The relationship between age and financial inclusion follows an inverted U‐shaped pattern, with the turning point occurring between the ages of 29 and 45. Surprisingly, gender does not appear to be a determining factor. These results align with the aspirations of ASEAN policymakers to promote financial inclusion in line with the sustainable development goals.

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From Informal Financial Intermediaries to MicroFinTech Valuation

Moro-Visconti

2021

Startup Valuation

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The Potential of FinTech in Enabling Financial Inclusion

Cited by 69 publications

References 5 publications

Determinants of FinTech payment services diffusion by SMEs in Sub-Saharan Africa: evidence from Ghana

Determinants of FinTech payment services diffusion by SMEs in Sub-Saharan Africa: evidence from Ghana

Unveiling financial inclusion dynamics: Fintech's resonance in Association of Southeast Asian Nations (ASEAN)

From Informal Financial Intermediaries to MicroFinTech Valuation

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