Financial inclusion and capital market development are critical components for fostering sustainable economic growth and reducing poverty. Financial inclusion ensures that individuals and businesses, especially those traditionally underserved, have access to useful and affordable financial products and services that meet their needs. Capital market development, on the other hand, facilitates efficient allocation of resources by mobilizing savings and channeling them into productive investments. This study examined the impact of financial inclusion on capital market development of Nigeria. Quarterly time series data from 2000Q1 to 2024Q4 of Capital Market proxied by market capitalization (MCAP), number of microfinance banks (MFB), value of rural deposits as a ratio of total deposits (RDE), value of rural credits as a ratio of total loans (RCR) and interest rate (INT). The Dickey-Fuller unit root test and the Johanson cointegration test were carried out. The result showed that the data set were all stationary at first difference I(1)and the series had a long run relationship with dependent variable. The Fuller modified ordinary least squares (FMOLS) technique was utilized to estimate the model, the result shows that all the variables(MFB, RCR, RDE and INT) had direct relationship with the dependent variable (MCAP) and were all significant at 5% significance level . The result further revealed that the positive impact of financial inclusion on capital market growth suggests that policies aimed at stimulating financial inclusion growth can have a multiplier effect on capital market development. Furthermore, the positive relationship between rural deposits and capital market development indicate that policies aimed at mobilizing rural deposits can increase financial inclusion. This can be achieved through expanding bank branches and mobile banking services in rural areas. The study therefore recommended that Government should develop initiatives to boost rural deposits by creating accessible and attractive savings products, thereby increasing the capital base available for investment in capital markets. Also banks and other financial institutions should implement targeted credit programs that provide subsidized loans or guarantees to rural businesses, particularly in sectors with high growth potential. Banks and other financial institutions should implement monetary policies that keep lending rates low and manageable for borrowers, particularly in rural areas.

Mobile banking in Saudi Arabia has experienced rapid growth driven by the government’s digital transformation efforts under Saudi Vision 2030, which has prompted the adoption of innovative technologies to improve service delivery across digital financial transformation. Analyzing user reviews is instrumental in gauging the success of mobile banking applications (apps). Utilizing sentiment analysis allows banking providers to convert customer feedback into actionable insights, which can help improve their services, attract new customers, and retain current customers. In this study, we conducted a comparative sentiment analysis of mobile banking apps in Saudi Arabia across iOS and Android platforms. We systematically analyzed 15,459 iOS and 230,734 Android user reviews in multiple languages from 10 leading Saudi banks. Utilizing a pre-trained sentiment model, we classified user sentiments into three categories: positive, negative, and neutral. To deepen the evaluation, Retrieval-Augmented Generation (RAG) with GPT-4o was applied to extract fine-grained user concerns, which were visualized through heatmaps of the most frequent usability issues. Our findings revealed clear differences in user satisfaction across mobile banking apps on iOS and Android. On Android, Alrajhi showed the strongest positive sentiment. Both Banque Saudi Fransi and Saudi Investment Bank received consistently negative reviews on iOS and Android. Arab National Bank received strong positive sentiment on iOS but weak positive sentiment on Android. The comparison between 2022 and 2023 showed mixed outcomes: Saudi National Bank improved on Android and Saudi Awwal Bank on iOS, but Alinma on iOS and Arab National Bank on Android worsened. Beyond sentiment, usability was examined through the ISO 9241-11 model, which highlighted persistent issues in effectiveness, efficiency, and satisfaction. The results uncovered recurring problems in instability ( e.g ., crashes), performance slowness ( e.g ., delayed responsiveness), User Interface (UI) and User Experience (UX) shortcomings ( e.g ., confusing layouts), authentication difficulties ( e.g ., login failures), feature limitations ( e.g ., missing functions), and insufficient customer support ( e.g ., unresponsive assistance). Saudi banks should continuously enhance their apps by systematically analyzing user feedback, identifying recurring usability issues, and fixing key emerging problems. Early resolution of critical issues in mobile banking apps, coupled with continuous refinement, enhances customer loyalty and sustains competitiveness within the rapidly evolving digital financial ecosystem.

The role of mobile banking in coping with food insecurity in Burkina Faso

This paper explores mBank’s groundbreaking initiative mOkazje Zakupy, which integrates a full-featured shopping platform directly into its mobile banking app. Launched in partnership with Morele.net, the platform represents a strategic shift in digital banking, transforming the app from a transactional tool into a lifestyle companion. By leveraging its trusted brand, rich customer data and advanced personalisation engine, mBank delivers a seamless, secure and highly contextual e-commerce experience. The initiative reflects broader trends in platform banking and embedded finance, positioning mBank as a leader in redefining customer engagement in the European financial sector. The paper highlights the technological, operational and strategic dimensions of the project, emphasising its scalability, regulatory compliance and potential to reshape the role of banks in the digital economy. Beyond its technical execution, mOkazje Zakupy reflects a broader strategic vision: to increase customer engagement, reduce churn and unlock new monetisation pathways. The initiative aligns with global trends in embedded finance and platform banking, offering a European benchmark for how banks can evolve into digital ecosystems. This article is also included in The Business & Management Collection which can be accessed at https:// hstalks.com/business/.

For daily shopping, people can more easily access the internet via their mobile phones. SMS marketing, social media marketing, location-based marketing, proximity marketing, and inapp marketing are some of the market methods used in mobile marketing. People are drawn into the digitalized market by the swift increase in smartphone usage. Because of their widespread use, smart phones have become an essential part of every consumer’s daily life. The factors that influence consumers to purchase goods and services include availability, quality, price, discounts, offers, and more. For sellers in the marketing industry, mobile devices have produced an extensive and distinctive channel of advertising. Additionally, the marketed products become an immediate hit and achieve enormous popularity and reach. Additionally, customers employ digital payment methods that ensure hassle-free purchases, such as Gpay, Paypal, phone pay, mobile banking, QR code transactions, UPI, mobile wallets, etc. Mobile marketing is expected to increase significantly in the near future due to its many benefits and the fact that it benefits both consumers and marketers. It’s time to understand what motivates customers to make purchases using their smartphones. In light of this, the current study intends to examine customer excitement and purchasing behavior with regard to mobile marketing in the Chennai region.

The Kisan Credit Card (KCC) scheme is a vital initiative designed to provide farmers with timely and affordable access to credit, reducing their reliance on informal lending sources. Despite its importance, several institutional, financial, and socio-economic challenges such as complex application procedures, inadequate rural banking facilities, high default risks, and limited financial literacy continue to hinder its effectiveness. This review highlights major policy measures and best practices aimed at enhancing the adoption, accessibility, and efficiency of the KCC scheme. The integration of digital innovations, including online application systems, Aadhaar-based verification, mobile banking, and AI-supported credit monitoring, has simplified loan processing and strengthened financial security. Furthermore, expanding KCC eligibility to tenant farmers, sharecroppers, and women farmers has improved rural financial inclusion. Initiatives such as financial literacy programs, community-based awareness campaigns, and Financial Literacy Centers (FLCs) have also contributed significantly to educating farmers about digital banking and credit management. Although these developments mark substantial progress, continued investment in technology, policy reforms, and financial education is crucial to fully realize the potential of the KCC scheme and promote long-term financial stability and empowerment among India’s farming community. KeywordsKisan Credit Card (KCC), Financial inclusion, Digital banking, Agricultural credit, Financial literacy.

The digital economy is rapidly expanding globally, with the potential to significantly boost socio-economic development, particularly in developing countries. The banking industry is significantly investing on introducing digital financial services especially in developing countries like Ethiopia ultimately to achieve financial inclusion goals. Hence, this study was aimed to investigate the effect of digital financial services (DFS) for financial inclusion in Ethiopia. For this purpose, secondary data was collected from the National Bank of Ethiopia, the study specifically focused on seventeen commercial banks (panel units) from the year 2014/15 to 2023/24. The random effect model was applied to estimate the effect of explanatory variables on the variable of interest based on Hausman test results and after testing all possible assumptions of the model. Accordingly, the finding revealed that Mobile banking, ATMs, POS terminals, and Mobile Wallet Banking all has a positive and significant effect on the number of financial accounts in Ethiopia. These services are driving financial inclusion by increasing access to banking services and facilitating the opening of accounts. Internet banking appears to have a negative impact on the number of accounts, which might reflect limited access to or use of internet banking in Ethiopia, possibly due to issues like connectivity or low digital literacy. The authors propose that enhancing the adoption of digital financial services (DFS) in both rural and urban areas could play a crucial role in advancing financial inclusion. They argue that such an increase would directly support the financial inclusion strategies of policymakers and banking practitioners. By improving access to digital financial tools, individuals in these regions often underserved by traditional banking systems could be integrated into the formal financial sector.

The development of digital technology, particularly mobile banking, can be analogized as the modernization of distribution channels within the logistics industry. In the banking context, the use of mobile banking accelerates transaction flows, increases customer activity volume, and reduces operational burdens that typically arise from branch-based services. These conditions ultimately contribute positively to the improvement of banks’ financial performance through cost efficiency, increased transaction-based income, and the optimization of customer services. This study aims to analyze the effect of e-banking on the financial performance of state-owned banks listed on the Indonesia Stock Exchange (IDX) during the 2020–2024 period. E-banking is measured using the annual number of e-banking transactions, while financial performance is measured using Return on Assets (ROA). The study employs simple linear regression along with classical assumption tests and hypothesis testing. The results indicate that e-banking has a significant effect on the financial performance of banks.

Bridging gaps: How does mobile banking drives entrepreneurial intention through financial inclusion

This study examines the role of digital finance and financial inclusion in enhancing community income in the Pulau Ketam Forest Reserve Area, Kuala Perlis, Malaysia. Communities living in forest reserve and conservation-based areas often face limited access to formal financial services, which constrains income growth and economic resilience. Using a quantitative approach, this study collected primary data from 135 respondents comprising households and micro-entrepreneurs through structured questionnaires. Digital finance and financial inclusion were analyzed as independent variables, while community income served as the dependent variable. Data were analyzed using descriptive statistics, reliability tests, and multiple linear regression analysis. The findings reveal that digital finance has a positive and significant effect on community income, indicating that the use of mobile banking, digital payment systems, and fintech services contributes to income growth and stability. Financial inclusion is also found to have a positive and significant impact on community income, highlighting the importance of access to formal financial services such as savings accounts and credit facilities. The regression results show that digital finance and financial inclusion jointly explain a substantial proportion of the variation in community income. These findings suggest that inclusive digital financial systems can support livelihood enhancement while aligning with sustainable development objectives in forest reserve areas. The study provides important policy implications for promoting digital financial inclusion as a strategy for community empowerment and sustainable economic development in environmentally sensitive regions.

Indonesia’s Islamic banks have usually been judged on narrow yardsticks how cheaply they run or how well they convert inputs into outputs. We stepped back and looked at all three sides of the coin at once: how wisely they spend, how effectively they earn, and how much profit is left on the table. Using a standard DEA model that allows for variable returns to scale, we tracked nine full-fledged Islamic commercial banks from 2016 through 2022. The headline numbers are blunt: on average they waste 45 % of their inputs (cost efficiency 0.55), leave 28 % of revenue on the floor (revenue efficiency 0.72), yet still manage to keep 84 % of every rupiah of potential profit (profit efficiency 0.84). After the 2019 mega-merger that created Bank Syariah Indonesia and the accompanying push into mobile banking, all three scores ticked upward. The takeaway for OJK and KNKS is simple: Indonesian Islamic banks can stay profitable even while they remain sloppy on cost; regulators now have an integrated benchmark that ties financial survival to the Maqasid al-Shariah goal of protecting wealth.

This study examines how research on digital technology and financial inclusion has evolved between 2005 and 2022 through a bibliometric analysis of 291 Scopus-indexed publications. Using Microsoft Excel and VOSviewer, it evaluates publication trends, influential authors and institutions, and the intellectual structure of the field. The findings show that contributions were modest in the early years but expanded rapidly after 2017, supported by fintech adoption, global development agendas, and the acceleration of digital financial services during the COVID-19 pandemic. Three main streams of research are identified: financial technology and innovation, including mobile banking and blockchain; technology adoption and institutional factors; and social inclusion and financial literacy, emphasising trust, equity, and cultural acceptance. These streams demonstrate that digital financial inclusion is shaped not only by technological and economic factors but also by social and cultural dimensions. Despite substantial progress, challenges such as digital divides, limited skills, and regulatory gaps constrain equitable access, while emerging frontiers link digital finance with sustainability and green innovation. By mapping these developments, the study contributes a roadmap for future research. It offers practical insights for policymakers, financial institutions, and development agencies working to harness digital technologies for inclusive and sustainable growth.

Abstract The rapid growth of financial technology (Fintech) has significantly transformed the financial services sector by enhancing efficiency, accessibility, speed, and transparency. Innovations such as digital payments, mobile banking, robo-advisory services, peer-to-peer lending, and online investment platforms have reshaped how investors access and utilize financial services. This study examines the influence of Fintech innovations on financial services and investor decision-making behaviour, with a specific focus on individual investors in Amravati city. Using a descriptive research design, primary data were collected through structured questionnaires and interviews from fintech users and investors. The study analyzes factors such as convenience, speed, trust, usability, and real-time information in shaping investor behaviour. The findings reveal that Fintech adoption positively influences investor decision-making by enabling faster transactions, improved access to market information, and enhanced convenience. However, challenges related to data security, privacy concerns, and behavioural biases such as overconfidence and frequent trading were also observed. The study concludes that Fintech innovations have a significant impact on both financial service delivery and investor decision-making behaviour, highlighting the need for improved digital literacy, stronger security measures, and balanced integration of technology with human advisory support Keywords: Fintech Innovations, Digital Payments, Investment Platforms, Financial Technology Adoption, Investor Behaviour.

The increasing penetration of digital technologies has prompted rural microenterprises to adopt digital payment systems to enhance financial management and operational efficiency. This study investigates the adoption of digital payment systems such as QRIS, e-wallets, and mobile banking and their effects on the financial efficiency of micro enterprises in rural areas. The research aims to understand how the transition from traditional cash-based transactions to digital platforms influences cost reduction, transaction speed, and financial record accuracy among rural entrepreneurs. Using a mixed-method approach, data were collected through surveys and interviews with microenterprise owners who have adopted digital payment systems. Quantitative findings reveal a significant positive correlation between the frequency of digital payment use and improvements in financial management efficiency, particularly in reducing operational costs and enhancing transaction traceability. Qualitative analysis further highlights that digital payment adoption encourages better budgeting behavior and business transparency. However, barriers such as limited digital literacy and unstable internet access remain key challenges in rural implementation. The article discusses these findings in the context of Indonesia’s 2025 national agenda for digital economic transformation and provides policy implications for expanding inclusive digital finance in underserved regions.

This study explores the role of digital transformation in advancing financial inclusion among rural residents of Ranchi, Jharkhand. With the rapid expansion of digital financial services (DFS) such as UPI, mobile banking, and Aadhaar-enabled Payment Systems, rural populations are increasingly gaining access to formal financial systems. The research employs a quantitative approach, based on primary data collected from 123 respondents using a structured questionnaire. Descriptive statistics were used to analyse demographic factors, benefits, and barriers, while simple linear regression tested the causal relationship between usage of digital financial services and financial inclusion. The results show a significant and positive impact of digital financial services on financial inclusion, with regression analysis confirming that greater use of digital tools enhances access, reduces barriers, and improves overall participation in financial systems. Benefits such as convenience, time-saving, and easier access to government schemes were strongly acknowledged by respondents, while barriers such as poor internet connectivity and lack of digital literacy remain key challenges. The findings validate the hypothesis and indicate that digital financial tools can be powerful drivers of inclusion, provided infrastructural and awareness gaps are addressed. The study contributes to both academic literature and policy discourse by offering localized evidence on digital adoption in rural areas, thereby guiding targeted strategies to bridge the digital divide and promote inclusive economic growth.

Mobile banking in Bangladesh is an innovative solution to the gap between banks and people. As fintech solutions, especially those involving mobile banking, proliferate in modern times, it becomes necessary to examine the potential of these solutions to help enhance sustainable economic development while adhering to Shariah law. This research examines the compliance of mobile banking innovation with Shariah principles. More specifically, it explores the juristic aspects of Islamic finance. Through the study, Shariah-compliant fintech models can facilitate access to financial services for marginalised communities in Bangladesh. Overall, these financial products can make a significant contribution to Bangladesh's economic development. After carefully reviewing the laws, the study in the paper examines the compatibility of m-banking with several essential Shariah principles, including fairness, transparency, risk sharing, prohibition of riba (interest), and others. The study highlights the regulatory issues and legal consequences of employing fintech innovation within the framework of Islamic finance, particularly in the social and economic context of Bangladesh. In addition, the agreement focused on the challenges of ensuring Shariah compliance in an era when new financial products and services have emerged that classical scholars never anticipated. Mobile banking can be a means to promote financial inclusion in Bangladesh for unbanked and underbanked individuals, including rural populations and women, the paper notes. The paper proposes a method to integrate Shariah-compliant mobile banking services that cater to the innovative needs of fintech. Furthermore, it suggests a framework that explores the Islamic ethical and moral requirements that can serve the purposes of the fintech innovations. The final recommendation will be directed to policymakers, regulators, and fintech companies on how to enhance the inclusivity and ethics of the mobile banking ecosystem in Bangladesh. The recommendations include the formulation of robust regulations, enhanced Shariah governance mechanisms, and the development of innovative financial products that align with Shariah principles and the global Sustainable Development Goals. The objective of this paper is to promote the development of mobile banking through Shariah-compliant fintech innovations, fostering sustainable economic growth in Bangladesh. This will add to the increasing discourse on how Islamic finance can be a force for good.

Abstract This systematic review examines the influence of technological infrastructure and perceived organizational usefulness on digital marketing adoption in Ethiopian banks, applying PRISMA methodology to synthesize peer-reviewed research from 2020 to 2025. Findings reveal that reliable internet connectivity, platform reliability, adequate technological infrastructure (including mobile banking platforms, digital tools like social media and e-mail marketing), and network robustness are essential but insufficient conditions for adoption. Managerial perceptions of usefulness such as performance expectancy, return on investment (ROI), and strategic alignment are critical mediators that determine whether digital marketing initiatives are embraced. Additionally, digital marketing enhances operational speed, customer satisfaction, and marketing efficiency, with social media platforms (Facebook, Telegram, Twitter, YouTube) playing a vital role in customer engagement and organizational communication. The review also highlights the importance of digital literacy training for both bank employees and customers to maximize digital marketing benefits. Government support and telecom infrastructure development emerge as significant enablers in fostering digital adoption. Future research priorities include investigating the interplay between technological, organizational, and environmental factors within the Ethiopian context and assessing the long-term impacts of digital marketing on competitive advantage and financial performance of banks. Study DOIs and key references are provided to ensure reproducibility and further scholarly inquiry.

Due to the COVID-19 pandemic, mobile banking usage has increased significantly over the last two years. People all over the world prefer mobile banking to other banking options such as ATMs and internet banking. With more concurrent mobile banking users, hackers and cyber criminals are more likely to target mobile users. As a result, the researcher decided to conduct a study on the current mobile banking system, with the goal of developing a secure mobile banking system that uses face recognition. The research concentrated on the security of existing mobile banking applications. The researcher conducted literature reviews and comparisons of existing mobile banking applications to gain additional knowledge for a deeper understanding of the topic. The developer also researched the methodologies and technical components required for this project. After tallying the data, it was discovered that more than half of the participants stated that their current mobile banking application does not support biometrics authentication. In addition, some of the participants added that mobile banking fraud still exists and some of them have experienced it or at least know about others who were victim to such criminal act. In this paper, research will be conducted on the nature of mobile banking systems provided by several well-known banks or financial institutions in terms of its security. Comparative study will also be done between the implementation of OTP as the current last-step verification and Facial Recognition as a proposed last-step verification. Finally, a proposed method on why facial recognition is better than OTP and how it should be integrated to a mobile banking system to create an in-depth layer of security will be unraveled.

Financial performance is an important measure in assessing the effectiveness and efficiency of a company. This study aims to examine the effect of mobile banking utilization, third-party funds, number of offices, and number of financing on financial performance. The research population includes Sharia Commercial Banks registered with OJK and Bank Indonesia during the period 2020–2024. The sample selection was conducted using purposive sampling, resulting in 11 Islamic Commercial Banks that met the research criteria with a total of 46 observations from a total population of 14 companies. Financial performance was proxied by Return on Assets (ROA). This study used a quantitative approach with secondary data in the form of annual financial reports, and was analyzed using multiple linear regression through the SPSS version 25 program. The results showed that third-party funds and the amount of financing had an effect on financial performance, while the use of mobile banking and the number of offices had no effect on financial performance.

The development of digital technology has driven the transformation of financial services, including in Islamic microfinance institutions. One form of innovation is the implementation of mobile banking services, which aims to improve transaction efficiency and digital financial literacy among the public. This study aims to analyze customer perceptions of the Mobile UGT service program at BMT UGT Nusantara Labang Branch and its role in improving digital financial literacy among the public. This study uses a qualitative approach with a descriptive method. Data was collected through in-depth interviews, observations, and documentation of five active customers who have used the Mobile UGT service. The results show that customers generally have a positive perception of the Mobile UGT service. The application is considered easy to use, practical, and able to facilitate various financial transactions such as checking balances, transferring funds, and making payments, without having to come directly to the BMT office. In addition to increasing transaction efficiency, the use of Mobile UGT also contributes to improving customers' digital financial literacy, as reflected in their increased understanding of income and expenditure management, budget planning, utilization of digital transaction features, and awareness of data and account security. However, this study also found several obstacles, mainly related to technical disruptions to the application and internet network limitations. Overall, the Mobile UGT service plays an important role in supporting customers' financial independence and digital financial inclusion. This study recommends strengthening technological infrastructure and continuing education programs to optimize the benefits of digital financial services in the BMT environment.