Financial Inclusion: The Role of Finthech and Digital Financial Services

Financial inclusion is measured in three dimensions: (1) in terms of access to financial services, (2) usage of financial services, and (3) the quality of the financial products provided and the way in which they are delivered. Financial inclusion has become an important international financial policy objective and financial regulatory principle and has been incorporated into a number of international declarations and codes of good practice. Some of the international initiatives to promote financial inclusion include the Maya Declaration on Financial Inclusion (2011) that was set forth by the Alliance for Financial Inclusion, a network of central banks, financial supervisors and other regulatory authorities from developing and emerging market economies, to improve the economic and social potential of the world’s poorest by improving their access to financial services and products.