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Financial Inclusion and the Fourth Industrial Revolution

In: Digital Financial Inclusion

Author

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  • David Mhlanga

    (University of Johannesburg)

Abstract

This chapter's objectives are to investigate what financial inclusion means and to outline the context in which the Fourth Industrial Revolution's technologies will affect it. Financial inclusion is defined variably in the literature, as this chapter points out. The chapter also emphasizes the fact that there are numerous theories of financial inclusion, including the beneficiaryBeneficiaries theories, the delivery theories, and the funding theories. The chapter also finds that some barriers to financial inclusion are being heavily addressed because of the technologies powering the Fourth Industrial Revolution, which is changing the financial industry. It was pointed out that information asymmetry is one of the main obstacles to financial inclusion since it makes it exceedingly difficult for other groups of individuals to get a line of credit, which greatly increases financial exclusion. However, the technologies of the Fourth Industrial Revolution are changing this by allowing excluded persons to be financially included through signalling, screening, information exchange, and digital identity construction, among other things.

Suggested Citation

  • David Mhlanga, 2022. "Financial Inclusion and the Fourth Industrial Revolution," Palgrave Studies in Impact Finance, in: Digital Financial Inclusion, chapter 0, pages 39-57, Palgrave Macmillan.
    • Handle: RePEc:pal:psifcp:978-3-031-16687-7_3
    DOI: 10.1007/978-3-031-16687-7_3
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    Cited by:

    1. Godfred Anakpo & Zizipho Xhate & Syden Mishi, 2023. "The Policies, Practices, and Challenges of Digital Financial Inclusion for Sustainable Development: The Case of the Developing Economy," FinTech, MDPI, vol. 2(2), pages 1-17, June.
    2. repec:fst:rfsisf:v:8:y:2023:i:14:p:143-164 is not listed on IDEAS

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