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Financial inclusion and digitalisation : a qualitative research into organisational solutions for financial and digital literacy

Bokkens, A. (2021) Financial inclusion and digitalisation : a qualitative research into organisational solutions for financial and digital literacy.

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Abstract:Financial inclusion is a tool towards achieving the sustainable development goals (SDGs). It ensures financial empowerment of the population which will result in a higher economic growth, reduced poverty and reduced inequality. In the last years, the financial sector has become increasingly technology-driven. The rise of digital finance and FinTech is a promising opportunity to increase financial inclusion. However, the financial illiteracy and digital illiteracy of vulnerable customer segments remain barriers that retain people from using (digital) financial services. The research objective is to discover new insights from MFIs and FinTech organisations about how they address the challenges of financial literacy and digital literacy in their (digital) financial services when striving towards inclusive finance. To fulfil this research objective, an inductive qualitative research has been performed. This research concludes that the solutions to improve the financial literacy of the customers are: financial education; easy and personalized information provision and explanation; and the support team. The solutions to address the customers’ digital literacy are: the support team; information provision and explanation; and the user experience. This research advises to the MFIs and FinTech organisations to implement these solutions to appropriately address financial literacy and digital literacy to support financial inclusion.
Item Type:Essay (Master)
Faculty:BMS: Behavioural, Management and Social Sciences
Subject:85 business administration, organizational science
Programme:Business Administration MSc (60644)
Link to this item:http://purl.utwente.nl/essays/87628
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