{"title":"发展中国家的工业 4.0 金融、数字金融服务和数字金融包容性:机遇、挑战和可能的对策","authors":"Favourate Y. Mpofu","doi":"10.32479/ijefi.15081","DOIUrl":null,"url":null,"abstract":"Fintech and the adoption of Fourth Industrial Revolution (industry 4.0) technologies have expanded the provision and uptake of digital financial services (DFSs) globally. Digital transformation in the financial industry intended to modify financial service provisioning by reducing the costs of accessing and challenges such as inaccessibility due to remoteness, not having a bank account, not having a credit history, or having erratic incomes. Digital financial inclusion (DFI) aims to ensure that financial services, such as deposits, payments, transfers, withdrawals, investments, accessing insurance and credit, checking account balances, receiving money, and making international remittances, are conducted conveniently, easily, safely, reliably, and affordably. DFI focuses on ensuring access to financial services through digital channels and platforms for individuals, businesses, and households, to promote financial inclusion for all stakeholders, especially previously financially excluded groups. Through a critical review of the literature, this study explores the opportunities and challenges of DFI or the adoption and use of DFS. The review unpacks the possible benefits of using DFSs, which include the broadening financial inclusion, increasing diversity and innovation in the financial services sector, attainment of the SDGs, reduction of poverty, increased economic growth, and minimization of the gender financial inclusion gap, as well as reduction in inequalities. The constraints include the inadequacy of digital infrastructure, taxes on DFS, literacy challenges, digital exclusion, poverty and the gender divide, risks, and lack of trust in the financial services sector. The study recommends appropriate regulation and oversight, literacy enhancement initiatives, investment in digital infrastructure, and increased consumer protection as measures to improve DFI in developing countries.","PeriodicalId":30329,"journal":{"name":"International Journal of Economics and Financial Issues","volume":null,"pages":null},"PeriodicalIF":0.0000,"publicationDate":"2024-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Industry 4.0 in Finance, Digital Financial Services and Digital Financial Inclusion in Developing Countries: Opportunities, Challenges, and Possible Policy Responses\",\"authors\":\"Favourate Y. Mpofu\",\"doi\":\"10.32479/ijefi.15081\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"Fintech and the adoption of Fourth Industrial Revolution (industry 4.0) technologies have expanded the provision and uptake of digital financial services (DFSs) globally. Digital transformation in the financial industry intended to modify financial service provisioning by reducing the costs of accessing and challenges such as inaccessibility due to remoteness, not having a bank account, not having a credit history, or having erratic incomes. Digital financial inclusion (DFI) aims to ensure that financial services, such as deposits, payments, transfers, withdrawals, investments, accessing insurance and credit, checking account balances, receiving money, and making international remittances, are conducted conveniently, easily, safely, reliably, and affordably. DFI focuses on ensuring access to financial services through digital channels and platforms for individuals, businesses, and households, to promote financial inclusion for all stakeholders, especially previously financially excluded groups. Through a critical review of the literature, this study explores the opportunities and challenges of DFI or the adoption and use of DFS. The review unpacks the possible benefits of using DFSs, which include the broadening financial inclusion, increasing diversity and innovation in the financial services sector, attainment of the SDGs, reduction of poverty, increased economic growth, and minimization of the gender financial inclusion gap, as well as reduction in inequalities. The constraints include the inadequacy of digital infrastructure, taxes on DFS, literacy challenges, digital exclusion, poverty and the gender divide, risks, and lack of trust in the financial services sector. The study recommends appropriate regulation and oversight, literacy enhancement initiatives, investment in digital infrastructure, and increased consumer protection as measures to improve DFI in developing countries.\",\"PeriodicalId\":30329,\"journal\":{\"name\":\"International Journal of Economics and Financial Issues\",\"volume\":null,\"pages\":null},\"PeriodicalIF\":0.0000,\"publicationDate\":\"2024-03-18\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"International Journal of Economics and Financial Issues\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://doi.org/10.32479/ijefi.15081\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"\",\"JCRName\":\"\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"International Journal of Economics and Financial Issues","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.32479/ijefi.15081","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"","JCRName":"","Score":null,"Total":0}
Industry 4.0 in Finance, Digital Financial Services and Digital Financial Inclusion in Developing Countries: Opportunities, Challenges, and Possible Policy Responses
Fintech and the adoption of Fourth Industrial Revolution (industry 4.0) technologies have expanded the provision and uptake of digital financial services (DFSs) globally. Digital transformation in the financial industry intended to modify financial service provisioning by reducing the costs of accessing and challenges such as inaccessibility due to remoteness, not having a bank account, not having a credit history, or having erratic incomes. Digital financial inclusion (DFI) aims to ensure that financial services, such as deposits, payments, transfers, withdrawals, investments, accessing insurance and credit, checking account balances, receiving money, and making international remittances, are conducted conveniently, easily, safely, reliably, and affordably. DFI focuses on ensuring access to financial services through digital channels and platforms for individuals, businesses, and households, to promote financial inclusion for all stakeholders, especially previously financially excluded groups. Through a critical review of the literature, this study explores the opportunities and challenges of DFI or the adoption and use of DFS. The review unpacks the possible benefits of using DFSs, which include the broadening financial inclusion, increasing diversity and innovation in the financial services sector, attainment of the SDGs, reduction of poverty, increased economic growth, and minimization of the gender financial inclusion gap, as well as reduction in inequalities. The constraints include the inadequacy of digital infrastructure, taxes on DFS, literacy challenges, digital exclusion, poverty and the gender divide, risks, and lack of trust in the financial services sector. The study recommends appropriate regulation and oversight, literacy enhancement initiatives, investment in digital infrastructure, and increased consumer protection as measures to improve DFI in developing countries.
期刊介绍:
International Journal of Economics and Financial Issues (IJEFI) is the international academic journal, and is a double-blind, peer-reviewed academic journal publishing high quality conceptual and measure development articles in the areas of economics, finance and related disciplines. The journal has a worldwide audience. The journal''s goal is to stimulate the development of economics, finance and related disciplines theory worldwide by publishing interesting articles in a highly readable format. The journal is published Bimonthly (6 issues per year) and covers a wide variety of topics including (but not limited to): Macroeconomcis International Economics Econometrics Business Economics Growth and Development Regional Economics Tourism Economics International Trade Finance International Finance Macroeconomic Aspects of Finance General Financial Markets Financial Institutions Behavioral Finance Public Finance Asset Pricing Financial Management Options and Futures Taxation, Subsidies and Revenue Corporate Finance and Governance Money and Banking Markets and Institutions of Emerging Markets Public Economics and Public Policy Financial Economics Applied Financial Econometrics Financial Risk Analysis Risk Management Portfolio Management Financial Econometrics.