Risks of the Use of FinTech in the Financial Inclusion of the Population: A Systematic Review of the Literature

Antonija Mandić, Biljana Marković and Iva Rosanda Žigo ()
Additional contact information
Antonija Mandić: Department of Public Relations, University North, Trg dr. Žarka Dolinara 1, 48000 Koprivnica, Croatia
Biljana Marković: Department of Public Relations, University North, Trg dr. Žarka Dolinara 1, 48000 Koprivnica, Croatia
Iva Rosanda Žigo: Department of Public Relations, University North, Trg dr. Žarka Dolinara 1, 48000 Koprivnica, Croatia

JRFM, 2025, vol. 18, issue 5, 1-17

Abstract: Financial technology (FinTech) has significantly changed access to financial services, particularly benefiting historically marginalized communities. While it offers many advantages, FinTech also brings substantial risks associated with this digital transformation. Recent studies highlight the significant impact of FinTech on financial inclusion, especially for marginalized populations. To investigate the benefits and drawbacks of FinTech and identify specific risks affecting users, particularly vulnerable groups, we employed the PRISMA method. A systematic literature review was conducted using the Web of Science database to explore recent research on FinTech and its relationship with financial inclusion, focusing on associated risks. The search covered 2010–2025; however, after applying inclusion criteria, the final dataset comprised publications from 2012 to 2025. Unlike previous bibliometric studies broadly addressing FinTech innovations, this review identifies and categorizes key risks affecting financial inclusion, emphasizing regulatory barriers, digital literacy, and socio-cultural challenges. The review is limited by the exclusive use of Web of Science and the English language, suggesting future research avenues using additional databases and multilingual sources. Findings reveal a notable increase in research activity surrounding FinTech and financial inclusion. This highlights challenges such as data privacy, regulation, and financial literacy. By mapping FinTech-related risks, this study aims to inform policymakers and stakeholders about effective strategies to mitigate these challenges and promote safe, inclusive financial ecosystems.

Keywords: FinTech; financial inclusion; risks; mobile money; digital lending; financial literacy (search for similar items in EconPapers)
JEL-codes: C E F2 F3 G (search for similar items in EconPapers)
Date: 2025
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/1911-8074/18/5/250/pdf (application/pdf)
https://www.mdpi.com/1911-8074/18/5/250/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jjrfmx:v:18:y:2025:i:5:p:250-:d:1649716

Access Statistics for this article

JRFM is currently edited by Ms. Chelthy Cheng

More articles in JRFM from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().