Unlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach

The financial sector is experiencing an accelerated process of transformation shaped by fintechs, which opens an important window of opportunity to increase financial inclusion in emerging markets, such as Brazil, with high financial exclusion. Thus, this article investigates, through a Delphi appro...

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Autores principales:	Luiz Antonio Joia, Joaquim Pedro Vasconcelos Cordeiro
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	fintechs financial inclusion financial sector Delphi method Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
Acceso en línea:	https://doaj.org/article/2dee95ece1fa45f3870f83158bbbd1ca
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spelling	oai:doaj.org-article:2dee95ece1fa45f3870f83158bbbd1ca2021-11-11T19:24:45ZUnlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach10.3390/su1321116752071-1050https://doaj.org/article/2dee95ece1fa45f3870f83158bbbd1ca2021-10-01T00:00:00Zhttps://www.mdpi.com/2071-1050/13/21/11675https://doaj.org/toc/2071-1050The financial sector is experiencing an accelerated process of transformation shaped by fintechs, which opens an important window of opportunity to increase financial inclusion in emerging markets, such as Brazil, with high financial exclusion. Thus, this article investigates, through a Delphi approach involving fintech professionals, the potential of fintechs to enable financial inclusion in emerging markets, using Brazil as a proxy. The analysis carried out identified three domains related to fintechs that have the potential to impact financial inclusion: (i) fintechs can serve niches of people without a bank account in the traditional financial market, (ii) fintechs can reduce costs for clients through increased competition, and (iii) fintechs can offer financial services in remote locations, far from traditional financial institutions. Thus, with the objective of developing a public agenda of financial inclusion through fintechs, the article proposes four lines of public policies: (i) expansion and modernization of mobile and internet infrastructure, (ii) improvement of the population’s financial and digital education, (iii) implementation of a trustworthy environment for the fintech clients, and (iv) development and enforcement of an effective legal and regulatory framework for fintechs. These policies, if implemented, can benefit people excluded from the financial system around the world.Luiz Antonio JoiaJoaquim Pedro Vasconcelos CordeiroMDPI AGarticlefintechsfinancial inclusionfinancial sectorDelphi methodEnvironmental effects of industries and plantsTD194-195Renewable energy sourcesTJ807-830Environmental sciencesGE1-350ENSustainability, Vol 13, Iss 11675, p 11675 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	fintechs financial inclusion financial sector Delphi method Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350
spellingShingle	fintechs financial inclusion financial sector Delphi method Environmental effects of industries and plants TD194-195 Renewable energy sources TJ807-830 Environmental sciences GE1-350 Luiz Antonio Joia Joaquim Pedro Vasconcelos Cordeiro Unlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach
description	The financial sector is experiencing an accelerated process of transformation shaped by fintechs, which opens an important window of opportunity to increase financial inclusion in emerging markets, such as Brazil, with high financial exclusion. Thus, this article investigates, through a Delphi approach involving fintech professionals, the potential of fintechs to enable financial inclusion in emerging markets, using Brazil as a proxy. The analysis carried out identified three domains related to fintechs that have the potential to impact financial inclusion: (i) fintechs can serve niches of people without a bank account in the traditional financial market, (ii) fintechs can reduce costs for clients through increased competition, and (iii) fintechs can offer financial services in remote locations, far from traditional financial institutions. Thus, with the objective of developing a public agenda of financial inclusion through fintechs, the article proposes four lines of public policies: (i) expansion and modernization of mobile and internet infrastructure, (ii) improvement of the population’s financial and digital education, (iii) implementation of a trustworthy environment for the fintech clients, and (iv) development and enforcement of an effective legal and regulatory framework for fintechs. These policies, if implemented, can benefit people excluded from the financial system around the world.
format	article
author	Luiz Antonio Joia Joaquim Pedro Vasconcelos Cordeiro
author_facet	Luiz Antonio Joia Joaquim Pedro Vasconcelos Cordeiro
author_sort	Luiz Antonio Joia
title	Unlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach
title_short	Unlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach
title_full	Unlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach
title_fullStr	Unlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach
title_full_unstemmed	Unlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach
title_sort	unlocking the potential of fintechs for financial inclusion: a delphi-based approach
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/2dee95ece1fa45f3870f83158bbbd1ca
work_keys_str_mv	AT luizantoniojoia unlockingthepotentialoffintechsforfinancialinclusionadelphibasedapproach AT joaquimpedrovasconceloscordeiro unlockingthepotentialoffintechsforfinancialinclusionadelphibasedapproach
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Unlocking the Potential of Fintechs for Financial Inclusion: A Delphi-Based Approach

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