DRONE ATM: Cash Disbursement in the Digital Economy for Financial Inclusion Post COVID19 Pandemic

2020 ◽  
Vol 11 (2) ◽  
pp. 47
Author(s):  
Yeshwanta Hebalkar
Keyword(s):  
Digital Economy ◽  
Financial Inclusion

scholarly journals Whither Financial Inclusion? Performance of Bangladesh in the 2017 Global Findex

2018 ◽  
Vol 2 (2) ◽  
pp. 14-18
Author(s):  
Sajid Amit
Keyword(s):  
World Bank ◽  
Digital Economy ◽  
Financial Inclusion ◽  
Demand Side ◽  
The Third ◽  
The World Bank ◽  
The World

On April 19, 2018, the third Global Findex Database was released by the World Bank at the Bank’s Spring Meetings. According to CGAP, this dataset is “the financial inclusion community’s best demand-side measure of financial inclusion globally.” Overall, the dataset points to an increasingly inclusive financial world that is also transitioning to a digital economy. Bangladesh, too, made impressive gains in certain yardsticks for financial inclusion based on this dataset. For instance, the share of people with financial accounts increased from 29 percent to 41 percent, in three years. However, financial inclusion yardsticks should go beyond opening of bank and financial accounts and also encompass usage of accounts. It is only when people are actively using their accounts will we have meaningful financial inclusion.

The Challenges of FinTech Inclusion and Digitization of SMEs in Indonesia

2022 ◽  
pp. 118-134
Author(s):  
Syafrizal Helmi Situmorang
Keyword(s):  
Financial Literacy ◽  
Digital Literacy ◽  
Business Performance ◽  
Vital Role ◽  
Digital Economy ◽  
Financial Inclusion ◽  
Digital Ecosystem ◽  
Capital Financing ◽  
Financial Arrangements

The COVID-19 pandemic has changed people's digital behavior and caused giant leaps in various digital businesses. SMEs face various challenging factors in the transformation of their business into a digital ecosystem. Currently, Indonesia is the country with the fastest-growing digital economy and FinTech in ASEAN. Fintech plays a vital role in the digital economy, especially helping SMEs go digital and accelerate their business performance, such as venture capital financing, digital payment services, and financial arrangements. However, the role of fintech has not been maximized in increasing financial inclusion. There are still various obstacles and challenges such as technology adoption, financial literacy, digital literacy, financial inclusion, and fintech inclusion, and various program efforts from all stakeholders to bring SMEs into the digital ecosystem. Without cooperation, increasing financial literacy and financial inclusion and fintech inclusion will be challenging to achieve.

Acceleration of Financial Technology Growth towards Inclusiveness of Unbankable Society in Achieving the Vision of the Islamic Banking Roadmap 2020-2025 (Case Study: Generation Z, Jabodetabek)

2021 ◽  
Vol 4 (2) ◽  
pp. 158
Author(s):  
Ahmad Zikry Fadillah
Keyword(s):  
Financial Services ◽  
Quantitative Research ◽  
Population Based ◽  
Digital Economy ◽  
Financial Inclusion ◽  
Islamic Banking ◽  
Generation Z ◽  
Use Of Technology ◽  
Technology Services

Indonesia's digital economy continues to experience positive growth. The growth of the digital economy causes the volume of digital banking transactions to continue to increase. This shows the potential in utilizing the fintech market to the fullest. However, this market has not been utilized properly because there are still unbankable people who have not been accessed by banking services. The presence of fintech is expected to be a solution to target the unbanked population. Based on the existing potential, fintech has the opportunity to be developed to increase the financial inclusion of Islamic banking in accordance with the 2020-2025 Islamic Banking Roadmap in Indonesia. With the largest Muslim population in Indonesia and through the role of Generation Z, which is a generation that grew up in the digital era, this can be a potential in increasing the role of fintech as an effort towards inclusiveness for the unbankable community. With the increase in community inclusiveness, it can encourage the acceleration of the development of Islamic banking. This study aims to optimize the role of fintech development in Islamic banking in achieving the objectives of the 2020-2025 Islamic Banking Roadmap in Indonesia. The method used in this research is quantitative research with data collection techniques through literature reviews and questionnaires. The results show that the majority of Generation Z have access to good fintech financial services. Thus, generation Z has a role in increasing the financial inclusion of Islamic banking through the use of technology services, namely fintech, so that in the end, increasingly inclusive banking finance can support the achievement of the vision of the sharia banking roadmap that has been launched by the OJK.

scholarly journals The Behavioral Role of Digital Economy Adaptation in Sustainable Financial Literacy and Financial Inclusion

2021 ◽  
Vol 12 ◽  
Author(s):  
Siming Liu ◽  
Leifu Gao ◽  
Khalid Latif ◽  
Ayesha Anees Dar ◽  
Muhammad Zia-UR-Rehman ◽  
...  
Keyword(s):  
Loss Aversion ◽  
Financial Literacy ◽  
Well Being ◽  
Digital Economy ◽  
Moderating Effect ◽  
Financial Inclusion ◽  
Self Control ◽  
Behavioral Biases ◽  
The Impact ◽  
Behavioral Phenomenon

The basic aim of this research was to investigate the impact of the behavioral biases on financial inclusion in Pakistan while considering the moderating effect of financial literacy in this relation, in the context of behavioral perspective. This study focused on the significant behavioral phenomenon, including self-control, optimism, herding, and loss aversion with a perspective of the digital economy. To test the proposed hypothesis, the primary data collection method was used. A structured questionnaire was designed to collect data from 102 individual households through the convenience sampling technique. SmartPLS was used to analyze collected data. This study found the negative impact of self-control, optimism, and herding on financial inclusion. In contrast, loss aversion contributes to the uplift of financial inclusion in Pakistan. Similarly, financial literacy proved to have a decreasing effect on financial inclusion because of religious concerns. The moderation effect of financial literacy was also significantly positive except for loss aversion. The behavioral phenomenon proved to have a significant impact on financial inclusion. This research shows that individual households who do not use developed technological services and products from formal financial inclusion can overcome the behavioral biases that hinder them from making informed financial decisions. This research work will significantly help households use financial services to improve their standard of living and overall long-term financial well-being. This research is essential because many households are not using bank services and have low financial knowledge in Pakistan. The key contribution of this research study is that it found the relation between behavioral factors and financial inclusion. Financial literacy also has a moderating effect on their relations.

The Future of FinTech in ASEAN

2020 ◽  
pp. 63-79 ◽  
Author(s):  
Hazik Bin Mohamed
Keyword(s):  
Financial Services ◽  
Financial System ◽  
Digital Economy ◽  
Financial Inclusion ◽  
Economic Community ◽  
Market Participants ◽  
Cross Border ◽  
The Future ◽  
Shared Goals ◽  
Asean Economic Community

FinTech and the digital economy offer opportunities for ASEAN to rebuild trust and confidence in a financial system that had lost them. Some technologists imagine this world without intermediaries, while others just want a faster and more efficient way of transacting. Banks, FinTech companies, and regulators need to collaborate to create an ecosystem to drive greater access to financial services in the integrated ASEAN economy. The authors discuss projected trends in technology and its use in the next few crucial years. They also recommend strategies that involve various market participants and stakeholders coming together and working towards shared goals of a unified ASEAN economic community by increasing financial inclusion for the unbanked and the seamless cross-border flow of goods, services, and payments in a safe and secure manner.

Role of digital economy and technology adoption for financial inclusion in India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Vishal Vyas ◽  
Priyanka Jain
Keyword(s):  
Technology Acceptance ◽  
Technology Acceptance Model ◽  
Service Providers ◽  
Measurement Model ◽  
Digital Economy ◽  
Financial Inclusion ◽  
Content Type ◽  
Confirmatory Factor ◽  
Acceptance Model

Purpose The study aims to explore the role of digital economy and technology adoption for financial inclusion in the Indian context. Design/methodology/approach A conceptual framework was developed and hypotheses were tested through a survey conducted on 433 educated adults (males and females) residing in different districts of Rajasthan (India). Data was collected through a structured questionnaire and was subjected to confirmatory factor analysis. Structural equation modeling (second-order) was used to validate the measurement model and to test the mediating effect. Findings The measurement model is a confirmatory factor analysis and measures the reliability of the observed variables in relation to the latent constructs and indices shows the overall model fit. Structural model results indicate a complete mediation and a reflective impact (R2 = 0.28) of the extended technology acceptance model on digital economy and financial inclusion relationship. Research limitations/implications The study has taken into account only the perception of educated adults residing more specifically in one geographical area of a country. Thus, it limits the generalization of results in terms of implications to other regions and countries. Practical implications The proposed framework and implications are quite significant for policymakers and service providers to understand the nexus and strategic choices involved in this area. Moreover, understanding of user’s frame dependence would help in the development of digital assistive models that would perhaps mitigate the gap from participation (digital economy) to acceptance (financial inclusion). Originality/value Present study proposed a three-dimensional hypothetical model and conceptualized the digital economy (independent variable) as participation, behavioral intentions measured through the extended technology acceptance model (mediating variable) as adoption and financial inclusion (dependent variable) as acceptance to better understand the nexus. It represents the foremost step and a unique effort in this area. Moreover, the study was empirical and has wider applications both from the perspectives of end-users and service providers.

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