International Research Journal of Engineering and Technology (IRJET)
e-ISSN: 2395-0056
Volume: 11 Issue: 02 | Feb 2024
p-ISSN: 2395-0072
www.irjet.net
“FINTECH ON WOMEN’S FINANCIAL INCLUSION: BRINGING THE GENDER GAP THROUGH INNOVATIVE SOLUTIONS” Sanjana Agarwal1, Dhruv R Jain2, Gourav Agarwal3, Tanishq M4, Hrishikesh5, Siddharth6 12345Students- Jain (Deemed to be university) - Center for Management Studies
Dr. Priya Makhija Assistant professor- Jain (Deemed to be university) - Center for Management Studies -----------------------------------------------------------------------------***------------------------------------------------------------------------ABSTRACT: The influence on gender gaps varies by nation, despite the fact that digital financial services have made access to money easier, quicker, and less expensive, contributing to the spread of digital financial inclusion. Fintech, or financial technology, has become a significant driver in the global transformation of the financial services industry. This abstract focuses on how Fintech is affecting women's financial inclusion, which is important for achieving gender equality and economic empowerment. By giving women more access to financial resources and services, fintech technologies like mobile banking, digital payments, and peer-to-peer lending have the potential to close the gender financial gap. The results suggest that having a more gender diverse executive board is advantageous. Fintech businesses' performance is connected with improved performance. Fintech has the potential to increase financial inclusion and close the gender gap in financial service access. This research discovers a significant "Fintech gender gap" using data from 28 countries: Men use Fintech products and services at a rate of 29%. Among women, only 21% do. Almost all of the countries in our study had the gap. About a third of the difference is explained by national variables and a number of personal factors. The report offers potential explanations for in its conclusion, the problems of promoting financial inclusion with the gender gap and its ramifications modern technologies. This research paper examines how improved financial services accessibility, cost, and convenience might improve women's financial inclusion. It looks at the difficulties and possibilities of women adopting fintech, as well as concerns about digital literacy, privacy, and security. It also covers the function of legislative efforts and regulatory frameworks in fostering a gender-inclusive Fintech sector.
KEYWORDS: Fintech, Gender Gap, Innovation, Digital Literacy, Women’s Financial Inclusion, and Economic Empowerment.
INTRODUCTION: The development of Fintech in recent years has given us a game-changing chance to solve the enduring problem of gender inequality in financial inclusion. This study intends to examine how Fintech may help close the gender pay gap by providing creative fixes that give women more control in the financial industry. We will explore the numerous Fintech efforts created to improve women's financial inclusion through this research. This entails assessing digital lending platforms that employ alternative data sources to measure creditworthiness in addition to standard metrics and mobile banking apps that provide tailored financial education and user-friendly interfaces. We'll also look into how block chain technology might increase financial transaction security and transparency, helping to build confidence among women who frequently experience prejudice and exclusion. This study aims to identify the advantages and disadvantages of utilizing technology for women's financial empowerment by throwing light on cutting-edge Fintech practices. Our goal is to advance knowledge of the possible effects of Fintech on closing the gender gap in financial access and power. Women still encounter unequal impediments to using formal financial services, despite great progress toward global financial inclusion. Economic inequality has been sustained by these obstacles, which range from restricted access to financing, knowledge, and technology to cultural norms and prejudices. By offering specialized solutions that address the particular requirements of women, Fintech, which encompasses technologies like mobile banking, digital payments, and blockchain, has
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