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What is Digital Financial Inclusion

FinTech Development for Financial Inclusiveness
Digital access to and use of formal financial services which should be suited to excluded and underserved populations’ needs, and delivered responsibly, at a cost both affordable to customers and sustainable for providers.
Published in Chapter:
Digital Financial Knowledge and Behavior of Generation Z in Indonesia: A Survey of Islamic FinTech Literacy Toward Digital Financial Inclusion
Khairunnisa Musari (Kiai Haji Achmad Siddiq State Islamic University, Indonesia) and Sutan Emir Hidayat (Gunadarma University, Indonesia & National Committee for Islamic Economy and Finance, Indonesia)
Copyright: © 2022 |Pages: 22
DOI: 10.4018/978-1-7998-8447-7.ch007
Abstract
The Indonesian Population Census 2020 reported that the majority of Indonesia's population is in the productive age group and dominated by Generation Z (27.94%). As the generation that currently dominates the population, Generation Z's characteristics are important to learn. They are the future. Generation Z has the potency to accelerate Indonesia's financial inclusion through digitalization because they are adaptable to technology. Responding to the survey results which put Generation Z in Indonesia in the first rank for the levels of happiness and religious awareness, a survey was conducted for Islamic financial technology literacy to find out how they face challenges as well as opportunities in digital era to be in line with religious values and may accelerate financial inclusion. The great potential of Generation Z for technology as well as religious awareness in turn will support financial inclusion towards inclusive development in Indonesia. Hence, this chapter will describe the survey results of digital financial knowledge and behavior of Generation Z in Indonesia.
Full Text Chapter Download: US $37.50 Add to Cart
More Results
Financial Inclusion Literature Review: Definition, Measurement, and Challenges
Digital financial inclusion represents the deployment of the cost-saving digital instruments to reach financially excluded and underserved populations with a range of formal financial services suited to their needs.
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Paradigm Change in Financing Sources: Transition From Traditional Finance to Platform-Based Finance to Ensure Financial Sustainability
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