The Social Impact of Fintech

Hugo Benedetti and Consuelo Calderón
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Consuelo Calderón: Universidad de los Andes, ESE Business School

Chapter Chapter 21 in The Palgrave Handbook of Social Finance, 2025, pp 391-407 from Springer

Abstract: Abstract Financial technology (fintech) has rapidly emerged as a transformative force in the financial sector, offering innovative solutions to address critical social challenges such as financial inclusion, poverty reduction, reduced inequalities, and economic growth. By leveraging technologies like big data, blockchain, and artificial intelligence/machine learning (AI/ML), fintech is reshaping financial services, making them more accessible, efficient, and transparent. These innovations are aligned with the Sustainable Development Goals (SDGs), adopted by the United Nations in 2015, contributing to broader global efforts toward sustainability, climate action, zero hunger, and quality education. However, fintech’s continued success depends on overcoming regulatory requirements, digital access inequalities, and ethical considerations surrounding data privacy and algorithmic bias. This chapter explores the role of fintech in driving social impact, examining key technologies and applications, and analyzing future opportunities and challenges in creating a more inclusive and sustainable financial ecosystem.

Date: 2025
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DOI: 10.1007/978-3-031-99906-2_21

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