Financial Inclusion and FinTech

Financial inclusion refers to the provision of financial services at an affordable rate to the excluded sections by the formal financial system of the economy. The global measurement of financial inclusion in the last decade was focused on density indicators. With this information on financial inclusion, it was possible to gather basic supply-side information on the use of financial services, without considering the demand-side situation or the use of financial services. This gap in the financial inclusion database has now been resolved with the release of the Global Findex database. With this database, a comparative analysis over a period of time is presented in this book with the indicators of financial inclusion between a developing country India with the World figures. This book further examines the relationship between fintech and financial inclusion. It discusses the advent of fintech, fintech innovations for financial inclusion, and a fintech SWOT analysis. This book will provide valuable insights to policymakers, professionals, and academics about the status of financial access in India and also help to explore how fintech can be leveraged to promote financial inclusion.