Journey of financial inclusion: a systematic literature review and conceptual framework for future research

Abstract

PurposeThis article provides a systematic literature review on financial inclusion, offering a comprehensive overview of research publications. It also develops a conceptual framework to outline future research objectives, enhancing understanding and identifying key areas for further investigation.Design/methodology/approachThe data extraction concentrates on facts and figures about financial inclusion from 2005 to 2024. Using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA), the study reviews and synthesizes insights from 115 pertinent articles published in 77 high-ranked journals, indexed across three academic databases: Scopus, Web of Science (WoS) and the Australian Business Deans Council (ABDC).FindingsPrevious research on financial inclusion demonstrates that out of 115 articles, 50 were published between 2020 and 2024 and 43 between 2015 and 2019. This indicates the increasing trend of research on financial inclusion. Another interesting point is that researchers mostly use regression techniques to analyze the relationship between variables. Notably, reviewing the selected literature is valuable for researchers and practitioners interested in financial inclusion. It synthesizes the existing knowledge on the topic, identifies research gaps and suggests a conceptual framework to direct future studies.Originality/valueThis unique study contributes original value to the financial inclusion literature through a systematic literature review. By synthesizing existing knowledge and identifying research gaps, it presents a novel framework that offers new perspectives and highlights areas for future research, advancing the understanding of financial inclusion.