ENHANCING GLOBAL ECONOMIC INCLUSION WITH FINTECH INNOVATIONS AND ACCESSIBILITY

Abstract

The objective of this paper is to explore the transformative role of financial technology (fintech) innovations in enhancing global economic inclusion. Recognizing the persistent barriers that impede access to financial services for marginalized communities worldwide, this study employs qualitative case studies across several economies. The research methodology includes the examination of mobile payment systems, blockchain-based solutions, and digital banking platforms to assess their impact on financial inclusivity. Key findings indicate that fintech innovations significantly lower the cost of delivering financial services and expand their accessibility, especially in remote areas lacking traditional banking infrastructure. Notably, mobile payment systems have empowered individuals by facilitating peer-to-peer transactions and enabling micro-lending practices. Blockchain technology has further enhanced transparency and security, encouraging higher usage rates among underserved populations. The paper concludes that while fintech innovations hold substantial potential to drive economic inclusion, challenges such as regulatory frameworks, digital literacy, and infrastructure still require comprehensive strategies to maximize their impact. It suggests that ongoing collaboration between governments, technology providers, and financial institutions is crucial to developing inclusive fintech ecosystems that not only promote access but also ensure the sustainability and scalability of financial services globally. Keywords: Fintech, Financial Inclusion, Emerging Markets, Accessibility Barriers, Mobile Payments, Digital Banking, Blockchain, Digital Divide