Digital financial inclusion and development

Greta Bull and Leora Klapper

Chapter 10 in Handbook of Microfinance, Financial Inclusion and Development, 2023, pp 164-180 from Edward Elgar Publishing

Abstract: Financial services can help drive development. They help people escape poverty by facilitating investments in their health, education, and businesses. Yet many people around the world lack affordable access to financial products and services. Digital technologies could eliminate the need to travel long distances to financial institutions and increase the affordability of financial services. Digital financial services can also help people manage financial risk—by making it easier for them to collect money during financial emergencies from the government, an employer, or distant friends and relatives. Although digital financial services can advance financial inclusion, it is also important to address and mitigate the potential risks, particularly for women. It is essential to ensure appropriate financial consumer and data protection and privacy, together with targeted digital financial literacy initiatives. COVID-19 has underscored the critical need for digital access to affordable financial products and services to manage challenging health and economic conditions.

Keywords: Development Studies; Economics and Finance (search for similar items in EconPapers)
Date: 2023
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