Financial Inclusion Through Digital Banking: Case Studies From Developing Countries
Abstract
A key component of economic progress and poverty reduction, especially in developing nations, is financial inclusion, which means that all members of society have access to and use financial services. Digital banking has arisen as a potential way to improve financial inclusion by removing conventional obstacles like cost, distance, and bureaucracy, thanks to the fast growth of digital technology. Using a number of case studies, this research study will attempt to determine how digital banking has affected financial inclusion in poor nations. This study analyses digital banking programmes' methods, obstacles, and results by drawing on empirical information from a variety of developing settings, including nations in Latin America, Africa, and Asia. We examine the function of several parties involved in fostering digital financial inclusion—including governments, banks, telecoms, and fintech startups—by comparing case studies. Income inequality, gender inequities, and rural development are some of the socio-economic ramifications that the research explores in depth as a result of digital banking adoption. By shedding light on what makes digital banking solutions work and how to make them scale, this study adds to the expanding canon of literature on financial inclusion and digital banking. Policymakers, practitioners, and academics may benefit from this paper's illuminating best practices and lessons gained from real-world experiences about successful tactics to use digital technology for financial inclusion and sustainable development objectives.