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The financial technology ecosystem as an enabler of financial inclusion

Author

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  • Odongo Kodongo
  • Bibi Z. Chummun

    (University of the Witwatersrand)

Abstract

The financial technology (fintech) ecosystem comprises of two sub-components: production (supply-side) ecosystems, which exploit data connectivity availed by digital technologies to shape interdependencies often founded upon traditional value chains; and, consumption (demand-side) ecosystems, which are largely non-traditional interdependencies founded upon data generated by product usage. Both production and consumption ecosystems play an important role for financial inclusion. For example, on the supply side, subject to a conducive regulatory environment, fintech start-ups transform and unbundle traditional financial services to create highly personalized products that target specific markets. To deliver these unbundled products to their niche markets, fintech firms rely on platforms such as mobile devises, cloud computing and big data analytics availed by technology developers in the ecosystem.

Suggested Citation

  • Odongo Kodongo & Bibi Z. Chummun, 2023. "The financial technology ecosystem as an enabler of financial inclusion," Development Finance Agenda, Chartered Institute of Development Finance, vol. 8(1), pages 16-17.
    • Handle: RePEc:afj:journ4:v:8:y:2023:i:1:p:16-17
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    File URL: https://journals.co.za/doi/abs/10.10520/ejc-defa_v8_n1_a6
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