Literature On the Use of Fintech and Digital Finance to Increase Financial Inclusion
This article focuses on the ways that Fintech firms have changed the financial industry. An overview of Fintech businesses, their impact on the banking sector, the challenges they present, and their potential future role in the banking industry are provided in this article. Despite the fact that the first fintech businesses debuted in the late 1990s, their profile has significantly increased in recent years. Initially only providing payment processing, fintech companies soon expanded to offer other financial services like lending, insurance, and even asset management. Technology advances can be largely blamed for the growth and success of Fintech businesses. Fintech firms use cutting-edge tools and techniques to make banking easier, safer, and more widely accessible. Mobile applications and online platforms, for instance, have made it easier for customers to access and manage their financial accounts. Fintech firms have created a number of disruptive innovations for the banking sector. Peer-to-peer lending platforms, for instance, have freed lenders and borrowers from the restrictions of the banking system. Customers now have more payment options due to the growth of mobile payment apps and digital wallets.
How to Cite
Copyright (c) 2023 Pakistan Review of Social Sciences (PRSS)
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors have copyright but license exclusive rights in their article to the publisher. Author's submission implies that the work described has not been published previously (except in the form of an abstract or as part of a published lecture or academic thesis), that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, it will not be published elsewhere including electronically in the same form, in English or in any other language, without the written consent of the copyright-holder.