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A critical look at using financial technology policy to promote the sustainable development goals

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  • Bryane Michael
  • Nataliya Koroleska
  • Andy Tai
  • David Wai Ho Wong

Abstract

New financial technologies (FinTech) may not represent a new era for sustainable development—at least not as currently conceived. Many of the gains espoused by the UN and other cheerleaders come from rebranding the online equivalents of traditional savings, investment and tax payment activities. Most of these claims have no supporting evidence, beyond ad hoc anecdotes and stories. The existing evidence hardly forms a reliable basis for the very specific technologies and services recommended by international organizations. We show that abstract and nebulous advice on changing countries' payments, banking, securities, and others' laws helps explain why such advice will likely have little effect on promoting financial inclusion, saving, mobile payments, and the UN's Sustainable Development Goals.

Suggested Citation

  • Bryane Michael & Nataliya Koroleska & Andy Tai & David Wai Ho Wong, 2022. "A critical look at using financial technology policy to promote the sustainable development goals," Sustainable Development, John Wiley & Sons, Ltd., vol. 30(6), pages 1911-1920, December.
    • Handle: RePEc:wly:sustdv:v:30:y:2022:i:6:p:1911-1920
    DOI: 10.1002/sd.2358
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    References listed on IDEAS

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    2. Kriti Kishor & Sanjeev K. Bansal & Roshan Kumar, 2025. "The Role of Fintech in Promoting Financial Inclusion to Achieve Sustainable Development: An Integrated Bibliometric Analysis and Systematic Literature Review," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 16(1), pages 5664-5692, March.

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