The Role of Fintech in Enhancing Financial Innovation in Asia: Sustainable Development Approach

Interest in financial inclusion among academics has grown significantly over the past decade. The Sustainable Development Goals (SDGs), which aim to create enabling policies to mobilize financial resources, highlight key factors in poverty reduction and inclusive economic growth, particularly financial inclusion. This study focuses on 15 selected Asian economies. This research examines the role of fintech in promoting financial inclusion in Asia, employing a mixed-methods research design. The literature review part employs critical analysis based on the SciVal bibliometric tool. Quantitatively, it applies the Moments Quantile Regression (MMQR) technique to country-level panel data for 2011, 2014, 2017, and 2021. This study also uses a comparative analysis of digitalization indices provided by the World Bank (WB), specifically the Global Findex Database. The findings reveal that digital payments have the most substantial effect at higher quantiles (τ = 0.5 and 0.75), reflecting their role in deepening financial engagement. Mobile money exhibits significant influence at the lower quantile (τ = 0.25), indicating its role in facilitating initial access for underserved populations. Internet usage contributes positively, albeit moderately, while GDP per capita shows no strong direct effect. Qualitative insights highlight challenges such as regulatory gaps, cybersecurity risks, and digital inequality.