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Book part
Publication date: 19 July 2022

Peterson Kitakogelu Ozili

Purpose: This chapter revisits digital financial inclusion as an international development agenda and discusses everything you need to know about digital financial…

Abstract

Purpose: This chapter revisits digital financial inclusion as an international development agenda and discusses everything you need to know about digital financial inclusion.

Methodology: This chapter uses conceptual discourse methodology to explain digital financial inclusion.

Findings: This chapter identifies the definitions of digital financial inclusion, the goal of digital financial inclusion, the components of digital financial inclusion, the types of providers of digital financial services, the instruments for digital financial inclusion, the benefits of digital financial inclusion, the risks of digital financial inclusion, and the regulatory issues associated with digital financial inclusion. It also proposes suggestions on how to make digital financial inclusion work for the good of all. This chapter concludes by offering some implications for policymaking and practice in the digital finance ecosystem.

Details

Big Data: A Game Changer for Insurance Industry
Type: Book
ISBN: 978-1-80262-606-3

Keywords

Book part
Publication date: 18 July 2022

Peterson K. Ozili

Purpose: This chapter aims to present the arguments for and against central bank digital currency (CBDC) increasing financial inclusion. Financial inclusion is one of the…

Abstract

Purpose: This chapter aims to present the arguments for and against central bank digital currency (CBDC) increasing financial inclusion. Financial inclusion is one of the many reasons for issuing a CBDC.

Need for the study: There is a need to offer a critical perspective on the proposed financial inclusion benefits of CBDC. This is the first paper to present arguments supporting and statement against CBDC for financial inclusion.

Method: This chapter uses discourse analysis methodology to identify the arguments about CBDC promoting financial inclusion

Findings: The arguments in support of CBDC increasing financial inclusion are that CBDCs can digitise value chains, CBDCs can improve access to digital financial services, CBDCs can help to enlarge the digital economy, CBDCs can enhance the efficiency of digital payments, CBDCs can be used offline when there is no internet coverage, and CBDCs have low transaction costs. Some criticisms are that CBDC may not prioritise financial inclusion, a high price to purchase digital devices for holding a CBDC, non-interest-bearing CBDCs, the strong preference for cash over digital currency, the burdensome identification and regulatory requirements, and the imposition of transaction costs.

Implications: Overall, the arguments presented in this chapter show that there is still disagreement over whether a central bank’s digital currency can increase financial inclusion. Nevertheless, in the light of recent events, many central banks are determined to issue a CBDC for many reasons. Even though CBDCs do not achieve the intended financial inclusion objective, at least the other goals for publishing a CBDC will be performed, such as a significant reduction in cash management costs and the effective conduct of monetary policy.

Details

Big Data Analytics in the Insurance Market
Type: Book
ISBN: 978-1-80262-638-4

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Article
Publication date: 17 May 2022

A.Y.M. Atiquil Islam, Muhammad Rafi and Khurshid Ahmad

This study aims to assess whether technological incentives inspire communities in the process of digital inclusion. The factors analyzed by the authors assess five…

Abstract

Purpose

This study aims to assess whether technological incentives inspire communities in the process of digital inclusion. The factors analyzed by the authors assess five dimensions: technology incentives, technology utilization, searching skills, social integration, and capabilities.

Design/methodology/approach

Data were collected from 329 respondents in 14 public libraries and analyzed using structural equation modeling to validate the proposed research model and its relationships with the factors the authors analyzed.

Findings

The results showed that technological incentives significantly impact on technology utilization, searching skills, social integration, and capabilities to support community digital inclusion in Pakistan.

Practical implications

Technological incentives to the community will lead to the improvement of network technology for things like online taxation, banking transactions, social integration, participation in government, and modern health and education benefits. In addition, technological incentives will also enhance information literacy and digital access, helping people improve cognitive skills and critical thinking and also helping to develop skills.

Originality/value

This research is based on raw data first collected from various people with different opinions from the Khyber Pakhtunkhwa public libraries. This study was conducted to gain a deeper understanding of the overall situation related to the use of technology in Pakistan and the complications involved.

Details

Library Hi Tech, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-8831

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Open Access
Article
Publication date: 29 March 2022

Uduak Michael Ekong and Christopher Nyong Ekong

This study aims to empirically investigate the effect of digital currency development (digital finance) on financial inclusion in Nigeria for the period. Nigeria undertook…

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Abstract

Purpose

This study aims to empirically investigate the effect of digital currency development (digital finance) on financial inclusion in Nigeria for the period. Nigeria undertook her digital currency development to rip the benefits of financial inclusion, safer remittances and exchange rate regularization among others.

Design/methodology/approach

The researchers developed high-frequency quarterly data for the analysis from 2006:1 to 2020:4 in a weighted stepwise forward regression. A model similar to the one used by Demir et al. (2020) and Altunbas and Thornton (2019) with some modifications was developed.

Findings

Findings suggest that (1) a unit rise in the usage of automated teller machines by citizens spontaneously raised financial inclusion in a quarter in Nigeria by 0.012 units and were statistically significant; (2) a percentage rise in the use of point of sales transaction by citizens in the country also raised financial inclusion in Nigeria by approximately 1%; (3) a percentage increase by mobile payment users in Nigeria will spontaneously increase financial inclusion by at least 0.4%; (4) a percentage rise in web payment services reduces financial inclusion by 22% in Nigeria; (5) Cumulative positive effect of digital finances on financial inclusion in Nigeria was approximately 7%.

Practical implications

The researches show, using in-sample forecast, that while financial inclusion will grow in Nigeria, it will not be without systemic fluctuations. Based on the outcome, it is proposed that if the present digital currency penetration for the country is sustained at the present growth rate, the country may be more financially inclusive by 2% additionally by 2025 and 4% more by 2030.

Originality/value

Originally, it is found that digital currency development are positive derivatives for financial inclusion in Nigeria. Cumulatively, the effect of digital finances on financial inclusion in Nigeria is approximately 7% positive.

Details

Journal of Internet and Digital Economics, vol. 2 no. 1
Type: Research Article
ISSN: 2752-6356

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Article
Publication date: 20 September 2021

Sharon Wagg and Boyka Simeonova

This paper explores how policy-level stakeholders tackle digital inclusion in the context of UK rural communities.

Abstract

Purpose

This paper explores how policy-level stakeholders tackle digital inclusion in the context of UK rural communities.

Design/methodology/approach

Semi-structured interviews were conducted with stakeholders that operate nationally in government departments, government funded organisations and third sector organisations that provided a policy-level perspective on digital inclusion initiative provision across England, Scotland and Wales. Activity theory (AT) was utilised as a theoretical framework, where a variety of factors–tools, rules, community, division of labour and contradictions–were found to have an influence on digital inclusion initiative provision.

Findings

Digital inclusion initiative provision in UK rural communities is organised through the multi-stakeholder involvement of national organisations, and collaboration with intermediary organisations to provide digital skills training and support. The process is fraught with difficulties and contradictions, limited knowledge sharing; reduced or poor-quality connectivity; lack of funding; lack of local resources; assumptions that organisations will indeed collaborate and assumptions that intermediary organisations have staff with the necessary skills and confidence to provide digital skills training and support within the rural context.

Research limitations/implications

This study highlights the benefit of using AT as a lens to develop a nuanced understanding of how policy-level stakeholders tackle digital inclusion.

Practical implications

This study can inform policy decisions on digital inclusion initiative provision suitable for rural communities.

Originality/value

The contribution of this paper provides new insights into the understanding of how policy-level stakeholders tackle digital inclusion and the provision of digital inclusion initiatives; it builds on the use of AT to help unpick the complexity of digital inclusion initiative provision as a phenomenon; it reveals contradictions in relation to trust, and the need for knowledge sharing mechanisms to span and align different interpretations of digital inclusion across the policy-level; and reveals an extension of AT demonstrated through the “granularity of the subject” which enables the multi-actor involvement of the stakeholders involved in digital inclusion at policy-level to emerge.

Details

Information Technology & People, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0959-3845

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Article
Publication date: 11 May 2021

Ibrahim Osman Adam and Muftawu Dzang Alhassan

In an increasingly digitalised society, digital participation is reliant on information communication technology (ICT) access and the ability to use technologies for…

Abstract

Purpose

In an increasingly digitalised society, digital participation is reliant on information communication technology (ICT) access and the ability to use technologies for everyday tasks. To this end, people risk being digitally excluded if they cannot access and use ICTs. The purpose of this paper is to examine globally the effects of ICT access and ICT use on digital inclusion on one hand and the mediating role of ICT usage on the linkage between ICT access and digital inclusion on the other.

Design/methodology/approach

The study used a hypothesized model based on structuration theory and secondary data drawn from multiple archival sources in 121 countries. The authors test the model using partial least squares structural equation modelling.

Findings

The results from the PLS analysis shows that while ICT usage significantly influences digital inclusion at the global level, ICT access does not. Furthermore, the mediating role of ICT usage was not supported.

Originality/value

This study to the best of the authors’ knowledge is one of the very few studies to examine the effects of ICT access and ICT use on digital inclusion at the global level. The study contributes to the discourse on digital inclusion in ICT4D research.

Details

Transforming Government: People, Process and Policy, vol. 15 no. 4
Type: Research Article
ISSN: 1750-6166

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Article
Publication date: 20 May 2020

George Okello Candiya Bongomin and Joseph Mpeera Ntayi

Drawing from the argument that mobile money services have a significant potential to provide a wide range of affordable, convenient and secure financial services, there…

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Abstract

Purpose

Drawing from the argument that mobile money services have a significant potential to provide a wide range of affordable, convenient and secure financial services, there have been rampant frauds on consumers of financial products over the digital financial platform. Thus, this study aims to establish the mediating effect of digital consumer protection in the relationship between mobile money adoption and usage and financial inclusion with data collected from micro small and medium enterprises (MSMEs) in northern Uganda.

Design/methodology/approach

To achieve the main objective of this study, a research model was developed to test for the mediating effect of digital consumer protection in the relationship between mobile money adoption and usage and financial inclusion. The data were collected from MSMEs and structural equation modelling in partial least square (PLS) combined with bootstrap was applied to analyze and test the hypotheses of this study. The direct and indirect effect of mobile money adoption and usage on financial inclusion was tested through digital consumer protection as a mediator variable.

Findings

The findings from the PLS-structural equation modelling (SEM) showed that mobile money adoption and usage has both direct and indirect effect on financial inclusion. Moreover, financial inclusion is influenced by both mobile money adoption and usage and digital consumer protection.

Research limitations/implications

The study used partial least square (PLS-SEM) combined with bootstrap confidence intervals through a formative approach to establish the mediating effect of the mediator variable. Hence, it ignored the use of covariance-based SEM and the MedGraph programme. Furthermore, data were collected from samples located in Gulu district, northern Uganda and specifically from MSMEs. This limits generalization of the study findings to other population who also use mobile money services.

Practical implications

Promoters of digital financial services, managers of telecommunication companies, and financial inclusion advocates should consider strengthening the existing digital consumer protection laws on the mobile money platform. A collaborative approach between the mobile network operators, financial institutions and regulators should tighten the existing laws against mobile money fraudsters and an efficient mechanism for recourse, compensation and remedy should be set up to benefit the victims of frauds and cybercrime on the Fintech ecosystem.

Originality/value

The current study gives a useful insight into the critical mediating role of digital consumer protection as a cushion for promoting financial inclusion through mobile phones over the Fintech that face great threat and risk from cyber insecurity.

Details

Digital Policy, Regulation and Governance, vol. 22 no. 3
Type: Research Article
ISSN: 2398-5038

Keywords

Article
Publication date: 29 December 2021

Eva María Guerra-Leal, Florina Guadalupe Arredondo-Trapero and José Carlos Vázquez-Parra

To analyze financial inclusion through digital banking in order to identify how digital banking is including or excluding different types of populations in an emergent economy.

Abstract

Purpose

To analyze financial inclusion through digital banking in order to identify how digital banking is including or excluding different types of populations in an emergent economy.

Design/methodology/approach

Chi-square statistical tests were conducted to test the relationship between demographic variables (i.e. gender, region, locality and age) with having a digital banking account, types of services and reasons for not using them. As an example of an emergent economy, the Mexican Financial Inclusion Survey database was used, which includes stratified and clustered sampling.

Findings

Having a bank account with digital banking is related to gender. Women are more excluded than men, demonstrating a gender gap in access to digital banking accounts. Moreover, having a bank account with digital banking depends on the region. In regions where digital banking is more developed, the population uses a wide variety of digital banking services, in contrast to less developed regions. About the size of the locality, the lack of financial inclusion via digital banking is more common in rural contexts or small cities, demonstrating the exclusion of this type of population.

Research limitations/implications

This study is conducted with data from the latest Mexican Financial Inclusion Survey. Since the National Institute of Statistics and Geography (NISG) in Mexico previously conducted the study for exploratory purposes, it was not possible for the researchers to modify the variables.

Practical implications

The results might be considered on similar emergent economies to promote financial inclusion of vulnerable groups such as women, people living in underdeveloped regions, rural areas, small cities and elders. These findings may provide criteria for both government agencies and banking institutions to make efforts focused on including these population groups that have not been financially included through digital banking.

Originality/value

Identifying the barriers that affect financial inclusion, such as gender, region, size of the city and age can help to guide efforts to achieve greater economic freedom and quality of life for diverse types of populations. Although the study is carried out in an emerging economy, the results can also shed light on how to address these forms of exclusion that occur in different types of economies. It is understood that the lack of financial inclusion is a limitation to the economic freedom and quality of life to which everyone should have access, hence the relevance of the article.

Details

Review of Behavioral Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1940-5979

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Article
Publication date: 17 June 2021

Alicja Pawluczuk, JeongHyun Lee and Attlee Munyaradzi Gamundani

This aim of this paper is to examine the existing gender digital inclusion evaluation guidance and proposes future research recommendations for their evaluation. Despite…

Abstract

Purpose

This aim of this paper is to examine the existing gender digital inclusion evaluation guidance and proposes future research recommendations for their evaluation. Despite modern progress in towards gender equality and women’s empowerment movements, women’s access to, use of and benefits from digital technologies remain limited owing to economic, social and cultural obstacles. Addressing the existing gender digital divide is critical in the global efforts towards the United Nations’ Sustainable Development Goals (SDGs). In recent years, there has been a global increase of gender digital inclusion programmes for girls and women; these programmes serve as a mechanism to learn about gender-specific digital needs and inform future digital inclusion efforts. Evaluation reports of gender digital inclusion programmes can produce critical insights into girls’ and women’s learning needs and aspirations, including what works and what does not when engaging girls and women in information and communications technologies. While there are many accounts highlighting the importance of why gender digital inclusion programmes are important, there is limited knowledge on how to evaluate their impact.

Design/methodology/approach

The thematic analysis suggests three points to consider for the gender digital inclusion programmes evaluation: context-specific understanding of gender digital inclusion programmes; transparency and accountability of the evaluation process and its results; and tensions between evaluation targets and empowerment of evaluation participants.

Findings

The thematic analysis suggests three points of future focus for this evaluation process: context-specific understanding of gender digital inclusion programmes; transparency and accountability of the evaluation process and its results; and tensions between evaluation targets and empowerment of evaluation participants.

Originality/value

The authors propose recommendations for gender digital inclusion evaluation practice and areas for future research.

Details

Digital Policy, Regulation and Governance, vol. 23 no. 3
Type: Research Article
ISSN: 2398-5038

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Article
Publication date: 3 May 2021

Amari Mouna and Anis Jarboui

To help inform the debate over whether socio-demographic characteristics are related to the use of digital technologies, the authors investigated the effects of age…

Abstract

Purpose

To help inform the debate over whether socio-demographic characteristics are related to the use of digital technologies, the authors investigated the effects of age, gender, education, income and being in the workforce on changes in using financial digital services using panel data collected in the MENA countries during 2017.

Design/methodology/approach

This study aims to identify the impact of government policy on the determinants of financial inclusion and digital payment services in the MENA region. The authors use microdata from the 2017 Global Findex database on MENA countries to perform probit estimations. The paper focuses on the role of technology adoption by government authorities in extending financial inclusion and digital payment around different people.

Findings

The authors find that poorer people (and, by association, less educated people) and the young (but less so the elderly) are disproportionately excluded from the financial system. Results confirm that better collaboration between the government and the financial sector can help to develop digital financial inclusion through the technology adoption channels. The study confirms the significant impact of the government cashless policy in advancing financial inclusion in the MENA countries, with potentially wider applicability to other developed economies.

Practical implications

Policies to advance mobile money innovations could stimulate financial inclusion by promoting digital transaction services. The role of government authorities is imperative to harness the beneficial and sustainable gains from digitizing remittances and transfers to promote a cashless economy.

Originality/value

Financial inclusion promotes equality through a broadening of the system and government cashless policy can be a major catalyst for greater financial inclusion. It helps in the overall economic development of the underprivileged population and contributes to poverty reduction.

Details

International Journal of Sociology and Social Policy, vol. 42 no. 5/6
Type: Research Article
ISSN: 0144-333X

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