FinTech – Will it Contribute to Financial Inclusion?

Abstract

Over the last quarter of a century, developments in technology and infrastructure have brought about a sea change in the way financial transactions are carried out – worldwide and in India. Recent times have seen a lot of conversation about FinTech – its adoption, range of services provided, and the investments attracted by service providers. The overarching theme of this article is whether the current FinTech boom contributes to financial inclusion in India. The issues highlighted here can be refined further to answer specific research questions and formulate policies to ensure that FinTech becomes an effective enabler for greater financial inclusion. The concept of FinTech in the article encompasses all financial transactions transacted through non-brick and mortar channels.