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Digital Transformation and Financial Inclusion

Alexander, Kern
Year 2020
Collection SSRN
Abstract The paper explores some of the main regulatory concerns and market barriers created by the digital transformation of the financial services industry and the implications for a more socially-inclusive financial system, particularly in developing and emerging market countries. The paper considers the potential for financial technologies to enhance financial inclusion, whilst minimizing the unintended risks and consequences. In doing so, the paper discusses some of the major international initiatives to support policymakers and regulators in managing the risks associated with advances in financial technology. The paper addresses how financial inclusion has become an important public policy objective by exploring its potential to contribute to social sustainability. The paper examines fintech's role as a driver for financial inclusion and highlights some of the main advantages and risks of the digital transformation of financial services. In considering these issues, we will analyse how the experience of some developing and emerging market countries illustrate some of the advantages and disadvantages in addressing these challenges. Finally, the paper discusses the potential for national policymakers and regulators to coordinate their efforts on a cross-border basis to take advantage of digital financial technologies whilst mitigating social inclusion risks.
Keywords EquityJusticeInequalityMonetary SystemsIndustrializationTechnological InnovationBanksGovernment Policy and RegulationSustainabilityEnvironmentFinancial Risk and Risk ManagementCorporate GovernanceFinancial Markets
Note L'article fera l'objet d'une publication dans un ouvrage collectif qui paraîtra chez Routledge en 2021
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KARAMETAXAS, Xenia Elisa, ALEXANDER, Kern. Digital Transformation and Financial Inclusion. 2020 doi: 10.2139/ssrn.3645994 https://archive-ouverte.unige.ch/unige:150665

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Deposited on : 2021-03-26

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