DEVELOPMENT OF FINTECH AS A CATALYST FOR FINANCIAL INCLUSION: A PATHWAY TO POVERTY REDUCTION
Keywords:
financial technologies (fintech), poverty reduction, financial inclusion, mobile money, peer-to-peer lendingAbstract
This extended scientific article investigates the role of financial technologies (fintech) in alleviating poverty, focusing on how fintech innovations—such as mobile money, digital payments, peer-to-peer lending, and microfinance platforms—contribute to financial inclusion and economic empowerment. Through a detailed analysis of fintech's impact on traditionally underserved populations, the paper addresses how these technologies improve access to financial services, reduce transaction costs, and enhance financial literacy. Regulatory challenges, financial literacy gaps, and the digital divide are also critically assessed. Finally, it highlights fintech's role in achieving the United Nations' Sustainable Development Goals (SDGs) with a special focus on low- and middle-income countries.
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