IDEAS home Printed from https://ideas.repec.org/a/gam/jjrfmx/v18y2025i5p250-d1649716.html
   My bibliography  Save this article

Risks of the Use of FinTech in the Financial Inclusion of the Population: A Systematic Review of the Literature

Author

Listed:
  • Antonija Mandić

    (Department of Public Relations, University North, Trg dr. Žarka Dolinara 1, 48000 Koprivnica, Croatia)

  • Biljana Marković

    (Department of Public Relations, University North, Trg dr. Žarka Dolinara 1, 48000 Koprivnica, Croatia)

  • Iva Rosanda Žigo

    (Department of Public Relations, University North, Trg dr. Žarka Dolinara 1, 48000 Koprivnica, Croatia)

Abstract

Financial technology (FinTech) has significantly changed access to financial services, particularly benefiting historically marginalized communities. While it offers many advantages, FinTech also brings substantial risks associated with this digital transformation. Recent studies highlight the significant impact of FinTech on financial inclusion, especially for marginalized populations. To investigate the benefits and drawbacks of FinTech and identify specific risks affecting users, particularly vulnerable groups, we employed the PRISMA method. A systematic literature review was conducted using the Web of Science database to explore recent research on FinTech and its relationship with financial inclusion, focusing on associated risks. The search covered 2010–2025; however, after applying inclusion criteria, the final dataset comprised publications from 2012 to 2025. Unlike previous bibliometric studies broadly addressing FinTech innovations, this review identifies and categorizes key risks affecting financial inclusion, emphasizing regulatory barriers, digital literacy, and socio-cultural challenges. The review is limited by the exclusive use of Web of Science and the English language, suggesting future research avenues using additional databases and multilingual sources. Findings reveal a notable increase in research activity surrounding FinTech and financial inclusion. This highlights challenges such as data privacy, regulation, and financial literacy. By mapping FinTech-related risks, this study aims to inform policymakers and stakeholders about effective strategies to mitigate these challenges and promote safe, inclusive financial ecosystems.

Suggested Citation

  • Antonija Mandić & Biljana Marković & Iva Rosanda Žigo, 2025. "Risks of the Use of FinTech in the Financial Inclusion of the Population: A Systematic Review of the Literature," JRFM, MDPI, vol. 18(5), pages 1-17, May.
    • Handle: RePEc:gam:jjrfmx:v:18:y:2025:i:5:p:250-:d:1649716
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/1911-8074/18/5/250/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/1911-8074/18/5/250/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Maichanou Ahamadou & Dan Baky Agada, 2023. "Adopting FinTech to promote financial inclusion: Evidence from western African economic and monetary union," International Journal of Applied Economics, Finance and Accounting, Online Academic Press, vol. 17(1), pages 135-145.
    2. Blakstad, Sofie & Amars, Latif, 2020. "FinTech at the frontier: Technology developments supporting financial inclusion in Niger," Journal of Digital Banking, Henry Stewart Publications, vol. 4(4), pages 318-331, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Christelle Meniago, 2025. "Digital Financial Inclusion and Economic Growth: The Moderating Role of Institutions in SADC Countries," IJFS, MDPI, vol. 13(1), pages 1-19, January.
    2. Arvind Ashta, 2023. "How Can Fintech Companies Get Involved in the Environment?," Sustainability, MDPI, vol. 15(13), pages 1-18, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jjrfmx:v:18:y:2025:i:5:p:250-:d:1649716. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.