Fintech as a Catalyst for Financial Inclusion and Socio-Economic Empowerment: Evidence from Emerging Economies

Raja Suzana Raja Kasim ()
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Raja Suzana Raja Kasim: Universiti Malaysia Kelantan, City Campus Pengkalan Chepa, Faculty of Entrepreneurship and Business

A chapter in Entrepreneurship and Human-Centric Business Strategies for Social and Economic Resilience, 2026, pp 859-877 from Springer

Abstract: Abstract This study examines the transformative impact of Fintech in Malaysia, focusing on efforts to promote inclusivity and socio-economic empowerment among marginalised groups and small businesses. Through in-depth interviews with users, developers, and stakeholders across payments, proptech, e-wallets, AI, data, and insuretech sectors, the research highlights how Fintech can overcome long-standing barriers to accessing formal financial services. It also explores how Fintech solutions enhance credit access, support micro and small enterprise growth, and promote socio-economic mobility. Notably, the study finds that Fintech platforms can lower transaction costs, expand financial outreach, and empower low-income populations, especially women and rural entrepreneurs. The research relates these findings to the Capability Approach, Financial Intermediation Theory, and Diffusion of Innovation Theory. However, challenges such as digital illiteracy, infrastructure deficiencies, and gaps in policy and regulation limit the scalability and inclusivity of Fintech innovations. The study emphasises the importance of collaborative Fintech ecosystems, designing inclusive platforms with interoperability and building user trust. Both theoretical insights and practical recommendations are provided for developers, policymakers, and scholars. Overall, Malaysian Fintech organisations are moving towards inclusive growth, social equity, and sustainable development.

Keywords: Financial inclusion; Sustainable development; Fintech sector; Malaysia (search for similar items in EconPapers)
Date: 2026
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-981-95-6415-6_53

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DOI: 10.1007/978-981-95-6415-6_53

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