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Financial Innovation: Accelerating Financial Inclusion in South Asia

Financial Innovation: Accelerating Financial Inclusion in South Asia

Md. Humayun Kabir
Copyright: © 2022 |Pages: 26
ISBN13: 9781668445037|ISBN10: 1668445034|EISBN13: 9781668445044
DOI: 10.4018/978-1-6684-4503-7.ch075
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MLA

Kabir, Md. Humayun. "Financial Innovation: Accelerating Financial Inclusion in South Asia." Research Anthology on Business Continuity and Navigating Times of Crisis, edited by Information Resources Management Association, IGI Global, 2022, pp. 1556-1581. https://doi.org/10.4018/978-1-6684-4503-7.ch075

APA

Kabir, M. H. (2022). Financial Innovation: Accelerating Financial Inclusion in South Asia. In I. Management Association (Ed.), Research Anthology on Business Continuity and Navigating Times of Crisis (pp. 1556-1581). IGI Global. https://doi.org/10.4018/978-1-6684-4503-7.ch075

Chicago

Kabir, Md. Humayun. "Financial Innovation: Accelerating Financial Inclusion in South Asia." In Research Anthology on Business Continuity and Navigating Times of Crisis, edited by Information Resources Management Association, 1556-1581. Hershey, PA: IGI Global, 2022. https://doi.org/10.4018/978-1-6684-4503-7.ch075

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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.

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