FINANCIAL INCLUSION AND FINTECH: A REVIEW OF GLOBAL PRACTICES

Abstract

Financial inclusion has emerged as a pivotal driver of socio-economic development by expanding access to financial services for underserved populations. This review explores the global practices of FinTech (Financial Technology) in advancing financial inclusion, with a focus on mobile banking, digital payments, peer-to-peer lending, and blockchain solutions. The study synthesizes international case studies and regulatory frameworks to understand how FinTech innovations have addressed the traditional barriers of cost, distance, and documentation. The review highlights successful models from both developed and developing economies, underscoring the role of public-private partnerships, supportive policy environments, and technology-driven scalability. However, challenges such as digital literacy, data privacy, and financial consumer protection persist. The findings suggest that while FinTech holds transformative potential for inclusive finance, its success depends on tailored strategies, responsible innovation, and inclusive policy frameworks.