Mapping of FinTech Ecosystem to Sustainable Development Goals (SDGs): Saudi Arabia’s Landscape

Umara Noreen ()
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Umara Noreen: College of Business Administration, Prince Sultan University, Riyadh 11586, Saudi Arabia

Sustainability, 2024, vol. 16, issue 21, 1-13

Abstract: Financial technology (FinTech) has become an indispensable part of most of the business infrastructure around the world. The FinTech ecosystem provides this solution by providing a suitable environment for all financial techno services to synergize. This paper explores the relationship between FinTech programs in Saudi Arabia and the Sustainable Development Goals (SDGs). It highlights how these financial technology initiatives contribute to various SDGs by providing innovative solutions that enhance financial inclusion, improve access to essential services, and foster economic growth. Specifically, the study identifies connections between FinTech programs and SDG goals 1 (No Poverty), 2 (Zero Hunger), 5 (Gender Equality), 8 (Decent Work and Economic Growth), and 17 (Partnerships for the Goals). Through these linkages, this paper demonstrates the role of FinTech in promoting sustainable development and supporting national and global efforts to achieve these crucial objectives. Secondary data were collected from published reports, institutional and governmental websites, official portals, and research papers focusing on the companies operating in Saudi Arabia. It was found that FinTech in Saudi Arabia is addressing SDGs goals 1, 2, 5, 8 and 17. This paper further endeavors to map specific SDG indicators to the products and services provided by FinTech companies in Saudi Arabia. By doing so, it seeks to identify the areas where these technological solutions directly support the achievement of sustainable development targets. This comprehensive analysis is intended to be a valuable resource for institutions and policymakers in the FinTech industry. It provides insights into how these companies can align their offerings more closely with the SDG framework, thereby addressing any existing gaps. The findings aim to aid in the global agenda of eradicating poverty and promoting sustainable development opportunities by leveraging FinTech innovations.

Keywords: FinTech; SDGs; FinTech ecosystem; content analysis; Saudi Arabia FinTech (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
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