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What is Traditional Financial Services

Fostering Innovation and Competitiveness With FinTech, RegTech, and SupTech
Regulated financial institutions products and services including, home loan, auto loan, checking account, savings account, and so forth.
Published in Chapter:
Financial Innovation: Accelerating Financial Inclusion in South Asia
Md. Humayun Kabir (East West University, Bangladesh)
DOI: 10.4018/978-1-7998-4390-0.ch010
Abstract
Financial innovation and financial inclusion are helping countries to achieve inclusive economic growth by mitigating poverty. The purpose of the chapter is to examine how financial innovation accelerating financial inclusion in South Asian countries. The uses of internet banking, mobile banking, short message service (SMS) banking, electronic banking (e-banking), agent banking, mobile money accounts, and mobile wallet banking is increasing at an increasing rate, which is engaging the unbanked people in the financial systems. The robust growth of the mobile ecosystem in South Asia is contributing broadly to the engagement of financial inclusion. The empirical analysis was done by using data from the Global Financial Inclusion Database (Global Findex) and Global Financial Development Database to see how automated financial products and services are conveniently receiving by the unbanked population. The results of the analysis show that many financial innovations in financial products and services delivery from financial technology is closing gaps in financial inclusion significantly.
Full Text Chapter Download: US $37.50 Add to Cart
More Results
The Impact of Financial Technology on Profitability for Banks
These are typically offered by regulated financial institutions, such as banks and credit unions, and include checking and savings accounts and home mortgage and auto loans. “Fringe” financial service providers offer check cashing and payday and title loans.
Full Text Chapter Download: US $37.50 Add to Cart
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