IDEAS home Printed from https://ideas.repec.org/a/arp/bmerar/2023p13-21.html
   My bibliography  Save this article

FinTech and Digital Finance: Foes or Friends after COVID-19 Pandemic?

Author

Listed:
  • Dr. Parul Mittal

    (Assistant Professor, Department of Commerce KLP college, Rewari)

  • Sonal Gupta

    (Research Scholar (JRF) Department of Management & Commerce Baba Mastnath University, Rohtak)

Abstract

Purpose- In the recent years, there is a high decline in the financial intermediation cost all thanks to the increased competition and technological advancement. The aim of this research is to find the awareness level and frequency of using FinTech during and after COVID-19. We also study FinTech in the terms of geographical profile of respondents. Design/methodology/approach- The data used in this research are both Primary and Secondary. Primary data was gathered from 143 respondents through online structured questionnaire. The survey was conducted in the State Haryana. The study is descriptive and exploratory in nature. Findings- The findings of the paper revealed that the frequency and the use of Digital financial services and FinTech increased after the pandemic. The needs of the people increase its demand. Further, the geographic profile of respondents has no influence on the use of FinTech but gender and annual income have significant influence on the frequency of using DFS on monthly basis. Practical implications- Based on the findings, the awareness level and frequency of using FinTech has been revealed. Suggestions and Recommendations have also been passed on how FinTech helps in accelerating financial inclusion and how the use of FinTech can be increased in the rural areas. Originality/value- The use of FinTech is increasing day by day, there is a need to analyse the use of FinTech amongst the section of population, especially those who are living in rural areas. This research also examines the role of FinTech in accelerating financial Inclusion. The motive of financial inclusion is also to provide financial services to each and every section of society including rural areas. Index Terms- FinTech, Digital Financial Services, Digital payments, Financial Inclusion, COVID-19, Digital Finance Paper type- Research paper.

Suggested Citation

  • Dr. Parul Mittal & Sonal Gupta, 2023. "FinTech and Digital Finance: Foes or Friends after COVID-19 Pandemic?," Business, Management and Economics Research, Academic Research Publishing Group, vol. 9(1), pages 13-21, 06-2023.
    • Handle: RePEc:arp:bmerar:2023:p:13-21
    DOI: /10.32861/bmer.91.13.21
    as

    Download full text from publisher

    File URL: https://www.arpgweb.com/pdf-files/bmer9(1)13-21.pdf
    Download Restriction: no
    File URL: https://www.arpgweb.com/journal/8/archive/06-2023/1/9
    Download Restriction: no
    File URL: https://libkey.io//10.32861/bmer.91.13.21?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Daniela Gabor & Sally Brooks, 2017. "The digital revolution in financial inclusion: international development in the fintech era," New Political Economy, Taylor & Francis Journals, vol. 22(4), pages 423-436, July.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Prince Hikouatcha & Alain Gilles Tagne Foka & Armand Depesquidoux Fossi & Simplice A Asongu, 2024. "Empirical investigation of the Fintech and financial literacy nexus: Small business managers’ insights in Cameroon," African Journal of Science, Technology, Innovation and Development, Taylor & Francis Journals, vol. 16(2), pages 219-237, February.
    2. Gordon Kuo Siong Tan, 2021. "Democratizing finance with Robinhood: Financial infrastructure, interface design and platform capitalism," Environment and Planning A, , vol. 53(8), pages 1862-1878, November.
    3. Gallego-Losada, María-Jesús & Montero-Navarro, Antonio & García-Abajo, Elisa & Gallego-Losada, Rocío, 2023. "Digital financial inclusion. Visualizing the academic literature," Research in International Business and Finance, Elsevier, vol. 64(C).
    4. Peterson K. Ozili, 2021. "Financial inclusion research around the world: A review," Forum for Social Economics, Taylor & Francis Journals, vol. 50(4), pages 457-479, October.
    5. Guangyou Zhou & Kuangxiong Gong & Sumei Luo & Guohu Xu, 2018. "Inclusive Finance, Human Capital and Regional Economic Growth in China," Sustainability, MDPI, vol. 10(4), pages 1-20, April.
    6. Yeh, Jen-Yin & Chiu, Hsin-Yu & Huang, Jhih-Huei, 2024. "Predicting failure of P2P lending platforms through machine learning: The case in China," Finance Research Letters, Elsevier, vol. 59(C).
    7. Daniela Gabor, 2018. "Goodbye (Chinese) Shadow Banking, Hello Market†based Finance," Development and Change, International Institute of Social Studies, vol. 49(2), pages 394-419, March.
    8. Nan Hao & Mingxing Ji, 2023. "Development of Platform Economy and Urban–Rural Income Gap: Theoretical Deductions and Empirical Analyses," Sustainability, MDPI, vol. 15(9), pages 1-25, May.
    9. You-Kyung Lee, 2021. "Impacts of Digital Technostress and Digital Technology Self-Efficacy on Fintech Usage Intention of Chinese Gen Z Consumers," Sustainability, MDPI, vol. 13(9), pages 1-15, April.
    10. Ivan D. Kotliarov, 2020. "Digital transformation of the financial industry: The substance and trends," Upravlenets, Ural State University of Economics, vol. 11(3), pages 72-81, July.
    11. Heping Ge & Bowen Li & Decai Tang & Hao Xu & Valentina Boamah, 2022. "Research on Digital Inclusive Finance Promoting the Integration of Rural Three-Industry," IJERPH, MDPI, vol. 19(6), pages 1-18, March.
    12. Yu, Tiffany Hui-Kuang & Huarng, Kun-Huang, 2024. "Causal analysis of SDG achievements," Technological Forecasting and Social Change, Elsevier, vol. 198(C).
    13. Brendan Whitty & Jessica Sklair & Paul Robert Gilbert & Emma Mawdsley & Jo‐Anna Russon & Olivia Taylor, 2023. "Outsourcing the Business of Development: The Rise of For‐profit Consultancies in the UK Aid Sector," Development and Change, International Institute of Social Studies, vol. 54(4), pages 892-917, July.
    14. Mirela Panait & Irina Radulescu & Alina Brezoi, 2020. "Financial Markets – Under the Sign of CSR. Some Evidences Regarding Financial Education," Book chapters-LUMEN Proceedings, in: Adriana Grigorescu & Valentin Radu (ed.), 1st International Conference Global Ethics - Key of Sustainability (GEKoS), edition 1, volume 11, chapter 11, pages 96-106, Editura Lumen.
    15. Zhang, Lifeng & Chao, Xiangrui & Qian, Qian & Jing, Fuying, 2022. "Credit evaluation solutions for social groups with poor services in financial inclusion: A technical forecasting method," Technological Forecasting and Social Change, Elsevier, vol. 183(C).
    16. Michael Becker & Kevin Merz & Rüdiger Buchkremer, 2020. "RegTech—the application of modern information technology in regulatory affairs: areas of interest in research and practice," Intelligent Systems in Accounting, Finance and Management, John Wiley & Sons, Ltd., vol. 27(4), pages 161-167, October.
    17. Shanika Thathsarani & Wei Jianguo & Mona Alariqi, 2023. "How Do Demand, Supply, and Institutional Factors Influence SME Financial Inclusion: A Developing Country Perspective," SAGE Open, , vol. 13(3), pages 21582440231, July.
    18. Maren Duvendack & Philip Mader, 2020. "Impact Of Financial Inclusion In Low‐ And Middle‐Income Countries: A Systematic Review Of Reviews," Journal of Economic Surveys, Wiley Blackwell, vol. 34(3), pages 594-629, July.
    19. Fouillet, Cyril & Guérin, Isabelle & Servet, Jean-Michel, 2021. "Demonetization and digitalization: The Indian government's hidden agenda," Telecommunications Policy, Elsevier, vol. 45(2).
    20. Foguesatto, Cristian Rogério & Righi, Marcelo Brutti & Müller, Fernanda Maria, 2024. "Is there a dark side to financial inclusion? Understanding the relationship between financial inclusion and market risk," The North American Journal of Economics and Finance, Elsevier, vol. 72(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:arp:bmerar:2023:p:13-21. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Managing Editor (email available below). General contact details of provider: http://arpgweb.com/index.php?ic=journal&journal=8&info=aims .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.