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Addressing the role of risk management and digital finance technology on financial inclusion
Abstract
Financial inclusion focuses on population which is “unbanked” to get into the formal financial system. The new patterns of financial inclusion rely on digital technologies, and “fin-tech” continues to revolutionize the nature of provision. Very important fact is that 78% of access on financial services in developing countries involves mobile money. Financial digital technologies improve data transmission, analysis and give the small companies the opportunity to develop low-cost distribution models and risk-management practices. Taking into account that there are two major reason for financial exclusion - high cost and non price barriers, we are encourage to examine the necessity of managing the use of finance digital technologies due to the opportunities for all of society. Further, we examine these questions because bureaucracy and cost are some of main barriers in accessing banking and financial products and services by biggest part of society, using linear regression analysis to process the collected data. © 2017, SRAC - Societatea Romana Pentru Asigurarea Calitatii. All rights reserved.
... Total 23 documents out of 44 have discussed fintech and financial inclusion by narrative analysis and inductive reasoning that means descriptive in nature. Under the theory and model development, ten documents have applied different methods such as regression analysis (Boshkov and Drakulevski, 2017), ordinary least square (Friedline et al., 2020), logistic regression (Douissa, 2019), semiparametric partial linear model (Gautam, 2019), index analysis (Baber, 2019), simulation experimental analysis (Gonzalez, 2019) and fuzzy set qualitative comparative analysis (Larios-Hernández, 2017). In this category, one book chapter has used theoretical discussion for developing fintech business models for financial institutions and non-financial institutions (Salampasis and Mention, 2018). ...
... Larios-Hernández (2017) and Boshkov and Drakulevski (2017) Big data and consumer access to capital Ferretti (2018) Peer-to-peer lending Microloan, microfinance Yeow et al. (2018) Sociology of finance Wang (2018) and Yeow et al. (2018) Financial stability Ozili (2018) and Wang (2018) 2019 Ref. 2020 Ref. ...
... Risk management on digital finance on financial inclusion Boshkov and Drakulevski (2017) Blockchain in financial inclusion Larios-Hernández (2017) and Gonzalez (2019) Chen and Bellavitis (2020) Innovation for fintech Salampasis and Mention (2018) and Gruin and Knaack (2019) Demand-side challenge and financial inclusion Sinha et al. (2018) Big data and consumer access to capital Ferretti (2018) Financial stability Ozili (2018) Fraud control Arner et al. (2019) and Chou (2020) Digital divide in financial inclusion Bhagat and Roderick (2020) and Friedline et al. (2020) Bhagat ...
This study examines the literature on fintech application in financial inclusion applying a citation mapping-based review technique-bibliometric analysis. The results of bibliometric review are then manually validated with content analysis. A total of 46 published documents from Scopus database are examined. Major findings from bibliometric review reveal three distinct research areas in literature: 1) generic application of fintech; 2) methodological and implication of fintech in credit scoring; 3) country performances. Future research directions are also identified.
This chapter explores the relationship between financial inclusion and the dark and bright sides of digitalisation in ten developed and developing countries over the period of 2008 to 2020. An analysis of panel data for the studied countries revealed a significant positive relationship between financial inclusion and technology, especially in terms of secure servers and financial innovation in the developing countries. These findings indicate that technology fosters access to and usage of financial services. In addition, the analysis revealed significant negative relationships between financial inclusion and secure servers and financial innovation in the developed countries as well as a significant positive relationship between financial inclusion and technology growth. The chapter concluded that the governments should adopting low-cost and easy-to-access technology and promoting financial inclusion in all classes of society.
The purpose of the work is to study the ratio of social and financial risks and to analyze their influence on the modern global financial system, as well as to develop recommendations for managing these risks. For that, the authors use the methods of regression and correlation analysis for determining the influence of various risks on the modern global financial system. At that, the indicator of the influence of social risks is the volume of the global stock market, as it is subject to the strongest and most vivid influence of “human factor”. The indicator of technological risks is the volume of the global market of digital payments, as it is peculiar for the highest level of authomatization and dependence on digital technical means and software. The resulting indicator that characterizes the state of the global financial system is global GDP per capita. Timeframe of the research covers 2006–2017. It is proved that social and digital risks determine functioning and development of the modern global financial system. This emphasizes the necessity for complex management of these risks. Recommendations for crisis management include the conceptual model of complex management of social and technological risks of functioning and development of the modern global financial system. This model offers measures for managing social and technological risks and risks of globalization, thus reducing susceptibility of the global financial system to the influence of “human factor” and its dependence on reliability of digital devices and global tendencies.
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