Transforming Financial Sector Through Financial Literacy and Fintech Revolution

Priya Makhija (), Elizabeth Chacko () and Mudita Sinha ()
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Priya Makhija: Jain University
Elizabeth Chacko: Jain University
Mudita Sinha: Christ (Deemed to be University)

A chapter in Financial Inclusion in Emerging Markets, 2021, pp 239-255 from Springer

Abstract: Abstract The current research focuses on the financial literacy among the women, youth and impact of fin-tech on the socioeconomic well-being of the economy. The researcher has incorporated extensive data mining on financial well-being and assesses the financial literacy along with attitude and behavior for financial knowledge mainly focusing on youth and usage of AI in financial services. It has been observed during research that the benefits of the technology are limited only to the urban areas, but the rural places are not much benefited and therefore more focus is needed for the financial technology to get amalgamated with rural lifestyle for convenience and transparency of financial transactions. This research paper contributes to the awareness of financial literacy and importance of financial reliance for the youth of today through knowledge sharing. The research also highlights the importance of government involvement in financial literacy and creating awareness at a global level for well-being of youth and women. Financial literacy can also improve the rate of entrepreneur’s growth and financial decisions. Financial knowledge and fin-tech services can help in better financial decisions and saving culture for self-reliant youth.

Keywords: Financial literacy; Attitude; Fin-Tech; Youth; Financial well-being; Subjective financial knowledge (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-16-2652-4_12

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DOI: 10.1007/978-981-16-2652-4_12

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