Analysis of the impact of Fintech on the financial inclusion in Iran

Subject Areas : Journal of Investment Knowledge

hassan mahdavi panah ¹ , maryam khaliliaraghi ² , Mehdi Montazer ³ , Hamidreza Vakilifard ⁴

1 - Ph.D. student in Financial Law, Department of Financial Management, Faculty of Management and Economy, Sciences and Research Branch, Islamic Azad University, Tehran, Iran.
2 - Associate Professor Department of Financial Management, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran
3 - Assistant Professor Department of Private Law, Faculty of Human Sciences, Damavand Branch, Islamic Azad University, Damavand, Iran
4 - Associate professor Department of Accounting, Faculty of Management and Economics, Science and Research Branch, Islamic Azad University, Tehran, Iran

Received: 2022-11-16 Accepted : 2023-05-06 Published : 2024-09-22

Keywords: Financial Technology, financial inclusion, Financial deprivation, Bank,

Abstract :

Financial inclusion means the extent of the level of access of people in the society to financial services and it is important for countries as a measure to measure financial development and economic growth. Governments have gone towards the use of financial technologies to develop financial inclusion in the society. Therefore, the purpose of this research was to investigate the impact of fintech on financial inclusion in Iran, and the relationship between them was discussed by presenting a model. The data related to financial inclusion and financial technologies were collected from the website of Central Bank of Iran in the period between 2006 and 2022. The research hypotheses were analyzed based on a linear regression model of the OLS method. The results of the model showed that there is a positive and significant relationship between fintechs and financial inclusion. The findings of the research show that the development of fintechs in the banking industry, especially in recent years, has led to the development of financial inclusion in Iran and fair and equal access to financial products and services for people in the society (which aims the main one is financial inclusion) and with the expansion of financial inclusion, financial deprivation in the society has decreased.

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