Journal of FinTech and Sustainable Finance
The Journal of FinTech and Sustainable Finance is an international, peer-reviewed journal focused on the integration of financial technologies and sustainable finance. It explores how FinTech transforms digital banking, ESG investing, green bonds, blockchain, AI, RegTech, and climate risk modeling to promote inclusive and responsible finance. The journal welcomes interdisciplinary research, reviews, case studies, and policy analyses from fields such as finance, economics, technology, law, and sustainability, with emphasis on innovation, regulation, and impact in digital and sustainable financial systems.
Ethical Governance, National Culture and Financial Inclusion: The Mediating Role of AI/FinTech Adoption in Nigerian Commercial Banks
This study examines how ethical governance and cultural factors influence AI/FinTech adoption and financial inclusion in Nigerian commercial banks. Drawing on the Technology Acceptance Model and Task-Technology Fit perspective, the study argues that ethical and cultural conditions shape AI/FinTech adoption, which in turn contributes to financial inclusion. A structured questionnaire was administered to respondents with knowledge or experience of digital financial services in the Nigerian banking and FinTech context, yielding 86 usable responses. Data were analysed using IBM SPSS Statistics through reliability analysis, descriptive statistics, Pearson correlation, regression analysis, and Hayes’ PROCESS mediation analysis with 5,000 bootstrap samples. The results show that ethical and cultural factors significantly predict AI/FinTech adoption. AI/FinTech adoption also has a positive and significant effect on financial inclusion. Mediation analysis further shows that AI/FinTech adoption mediates the relationships between ethical factors and financial inclusion, and between cultural factors and financial inclusion. These findings suggest that ethical governance and cultural alignment do not improve financial inclusion only through direct channels; rather, their influence operates mainly by strengthening AI/FinTech adoption. The study contributes to digital finance and financial inclusion literature by identifying AI/FinTech adoption as a key mechanism linking ethical and cultural conditions to inclusive financial outcomes. The findings also suggest that banks, FinTech providers, and regulators should promote transparent, accountable, secure, and culturally responsive AI/FinTech systems to support sustainable financial inclusion.
Advancing Sustainable Finance Through Law: Lessons from The EU’S Reporting Regime
Over the past decade, the European Union (EU) has introduced a range of new sustainability reporting rules designed, in part, to encourage sustainable finance and investment. However, over the past two years, a policy shift in the EU has resulted in removing many of these rules on the basis that they imposed too many regulatory burdens on companies and investors. While law clearly has the capacity to facilitate sustainable finance and investment, it also has the capacity to impose unnecessary constraints on businesses, investors and lenders which inhibit economic development and investment. Analysis of the EU’s legal innovations in this area can provide a unique insight into the optimal legal framework to promote sustainable finance. Hence, this article aims to extract lessons from EU law reform around sustainable finance and reporting.
The Demands of Financial Education in the Face of the Markets’ “Golden Calf”: The Role of Artificial Intelligence
The growing pervasiveness of artificial intelligence in financial markets is exposing retail investors to unprecedented forms of cognitive and informational asymmetry, as recently underscored by ESMA’s 2025 Warning on the use of AI-driven tools in investment decisions. The purpose of this article is to investigate the regulatory and dogmatic implications of this phenomenon at the intersection of the EU AI Act (Regulation 2024/1689), the MiFID framework, and the Italian Consolidated Law on Finance (TUF). The methodology adopted is dogmatic and comparative-regulatory: the notion of “AI system” is reconstructed as an organisational rather than a merely technological entity, and is then tested against the allocation of liability along the AI value chain (Article 25 AIA), the conceptual distinction between control and authority underpinning the deployer category, and the emerging paradigm of AI-as-a-service in financial intermediation. Particular attention is devoted to fin-influencers and large diffusion models (LDMs) as new vectors of systemic risk, and to the IOSCO 2025 Report’s recommendations on supervisory convergence. The article concludes that, where algorithmic opacity erodes the traditional pillars of investor protection, financial education must be reconceived as a constitutional precondition for the effective exercise of the economic freedoms; the principle of technological neutrality, far from being a passive regulatory stance, is reinterpreted as an active duty to safeguard the human dimension of financial choice — the actus humanus — against the seductive promises of algorithmic infallibility, which the article evokes through the metaphor of the markets’ “golden calf”. Read in this key, the contribution intersects the agenda of sustainable finance: responsible AI practices, algorithmic accountability and a renewed investor awareness emerge as preconditions for the long-term resilience of capital markets and for the integration of ESG-oriented decision-making into retail investment behaviour.
Fintech-Enabled Payment Solutions in Omnichannel Retail: Trust, Transaction Behavior and Digital Financial Interfaces
This study examines fintech-enabled payment solutions in omnichannel retail as consumer-facing financial technologies that shape transaction behavior, trust formation, and the functioning of digital financial ecosystems. The study draws conceptually on digital payment adoption research, trust-based perspectives on fintech platforms, and the broader view of payment technologies as components of digital financial ecosystems. Rather than treating payment merely as the final operational step of a purchase, the paper conceptualizes mobile payments, digital wallets, and related solutions as financial interfaces through which consumers evaluate speed, reliability, security, and the credibility of the wider retail-financial environment. The empirical basis of the paper is a consumer survey originally designed to examine omnichannel shopping experiences, which is reinterpreted here through the lens of payment-related trust, perceived ease of use, process continuity, and perceived control. The findings show that consumers assign high importance to integrated channel operation, simplicity, transparency, and reliable information, and that coherent omnichannel environments are associated with stronger trust, greater return intention, and a higher sense of control during shopping. The study suggests that payment-related trust is embedded in consumers’ broader evaluations of whether retail processes are consistent and reliable across channels. While the empirical material provides meaningful support for the trust- and adoption-related dimensions of the framework, the relationship between specific payment forms and responsible financial behavior remains more exploratory. The article contributes by repositioning payment within omnichannel retail as a fintech-related financial interface that influences consumer trust, transaction-related behavior, and the broader logic of digitally mediated financial interaction. The paper also argues that mobile payments, digital wallets, and BNPL should be treated as distinct fintech models with different implications for trust, perceived risk, and consumer behavior.
Transforming Tamil Nadu's Financial Ecosystem: Strategic Leadership in AI-Driven FinTech Innovation for Sustainable Economic Growth and Financial Inclusion – AN Empirical Assessment
This study explores how advanced technologies like artificial intelligence (AI), data analysis, and digital innovation are transforming modern finance in Tamil Nadu, India. As digital financial services grow rapidly, they help improve decision-making, risk management, and customer experiences. Tamil Nadu has become an important hub for fintech (financial technology) companies because of its strong IT infrastructure, talented workforce, and supportive government policies. The research shows that applying AI-driven systems, scalable digital platforms, open banking, and blockchain can boost economic growth while ensuring security and transparency. These technologies help financial institutions offer faster services, reduce costs, increase access to credit, and create new jobs. However, they also bring challenges such as cybersecurity risks, data privacy concerns, and the need for ethical use of AI. Leadership plays a key role in guiding responsible innovation, developing strong governance, and investing in skills and talent. The study uses secondary data to demonstrate that Tamil Nadu’s fintech sector is making significant progress, with measurable improvements in productivity, financial inclusion, and economic growth. Overall, the integration of AI and digital technology is helping Tamil Nadu become a leading region for financial innovation, supporting sustainable development and inclusive growth. Continued focus on good governance, skill development, and regulation will be essential to maximize benefits and build a resilient, trustworthy financial ecosystem for the future. The study examines critical and fast-emerging challenges that are becoming increasingly important in today’s global landscape.
The Role of Digital Financial Inclusion and Green Fintech in Achieving the Sustainable Development Goals
The 2030 Agenda for Sustainable Development faces a staggering financial shortfall, recently estimated by the OECD to exceed $4 trillion annually [1]. This review systematically synthesizes the most recent literature (2020-2024) to investigate how Digital Financial Inclusion (DFI) and Green Fintech (GFT) act as catalysts to close this gap and achieve the SDGs. We identify three primary impact pathways: (1) direct economic empowerment and poverty reduction (SDGs 1, 8) [2, 3], (2) enhanced access to basic services in health, education, and utilities (SDGs 3, 4, 6, 7) [4, 5], and (3) the mobilization of climate finance through transparent platforms and AI-driven analytics (SDGs 7, 12, 13) [6, 7]. Moving beyond techno-optimism, our critical appraisal scrutinizes significant barriers, including the digital divide [8], the environmental footprint of digital infrastructures [9], algorithmic bias [10], and regulatory gaps [11]. We conclude that DFI and GFT are transformative yet conditional tools, their success hinges on strong governance, ethical design, and equitable implementation. We propose a targeted future research agenda focused on establishing causality, promoting inclusive co-design, developing 'sustainable-by-design' technology, and creating integrative policy models to steer these innovations toward fulfilling their promise for a sustainable and inclusive future.
Digital financial inclusion, Green fintech, Sustainable development goals (SDGs), Financial technology, Climate finance, ESG, Digital divide.
Copyright (c) 2026 Journal of FinTech and Sustainable Finance
The Impact of Artificial Intelligence on the Cost of Capital
This paper asks whether adopting artificial intelligence (AI) lowers firms’ required returns—or instead raises perceived uncertainty—and why effects differ across firms and markets. Building on finance theories of information risk and control, we develop a framework in which AI affects the cost of capital through three channels: risk estimation (forecastability of cash flows), risk transformation (tail exposure and correlated failure risk), and governance credibility (legibility, auditability, and accountability of AI-driven decisions). The central prediction is conditionality: AI can improve operating performance yet generate little average decline in the cost of capital when opacity or control concerns offset cash-flow gains. Financing benefits arise when disclosure and governance make AI use verifiable and constrain downside risk, with particularly strong implications for debt markets and mature firms. The framework motivates a governance-interacted staggered-adoption difference-in-differences design and clarifies why prior evidence on technology adoption and financing outcomes is mixed. It also yields sharp implications for FinTech valuation, where AI is often the core production technology and capital pricing hinges on credible oversight.
Potential for Sustainable Finance in Uzbekistan: Case of Waqf-Based Microfinance
This study explores the prospects for introducing a sustainable finance alternative in Uzbekistan through the example of waqf-based microfinance (WMF). Using survey data, the study employs a combination of Literature Review and Exploratory Data Analysis (EDA) to assess feasibility, demand, and supply patterns for WMF in the country. The findings indicate a strong potential demand for WMF, influenced by individual characteristics such as gender, marital status, type of residence, occupation, income, savings, and familiarity with the waqf concept. On the supply side, the availability of waqf funds is closely associated with public awareness, trust, and perceived transparency of waqf institutions. Overall, the results reveal significant untapped potential for the development of sustainable finance in Uzbekistan, particularly in the form of Islamic social finance instruments such as WMF. The study suggests that Uzbek society could benefit substantially from this model, provided that foundational measures, such as supportive legal frameworks, financial incentives, and enhanced public awareness, are effectively established.
Deepfakes in Onboarding, KYC, and Financial Fraud: Authenticity Standards and Liability Framework for Digital Banks and FinTech
Deepfakes and synthetic media have evolved from reputational threats to direct financial exploitation tools, enabling sophisticated impersonation during remote onboarding, evasion of biometric verification systems, and the creation of synthetic identity accounts at industrial scale. Yet most countermeasures remain fragmented, relying on ad hoc vendor controls or intrusive surveillance mechanisms that undermine both user trust and financial inclusion objectives. This article advances an integrated legal-technical framework for FinTech institutions and digital banks structured around four core contributions: (i) a FinTech-specific taxonomy of deepfake-enabled fraud vectors spanning onboarding, KYC refresh, and account takeover scenarios; (ii) a normative mapping of duties grounded in risk-based customer due diligence and security obligations, anchored in Mexican law but internationally interoperable; (iii) a Tiered Authenticity and Traceability Standard (TATS) that calibrates verification intensity with transaction risk while enforcing data minimization and auditability principles; and (iv) a pragmatic liability allocation model distributing responsibility among deployers (FinTech), users, and verification vendors based on control capacity, foreseeability, and evidentiary capability. By integrating digital identity assurance standards with transparency-by-design principles and secure capture/provenance mechanisms, TATS operationalizes a privacy-preserving trust infrastructure that supports safer digital finance and, ultimately, sustainable financial inclusion in emerging markets.
Artificial Intelligence and FinTech Applications for Reducing Payment Disputes in the Construction Industry: A Review of Secondary Evidence
Payment delays and disputes are persistent challenges in the construction industry, leading to financial strain, project interruptions, and weakened stakeholder relationships. This paper reviews secondary evidence published between 2021 and 2025 to examine how financial technologies (FinTech) and artificial intelligence (AI) can reduce payment-related disputes. The review synthesizes findings on blockchain-based smart contracts, BIM-integrated payment systems, digital payment platforms, and supply-chain financing tools, highlighting their potential to enhance transparency, automate workflows, and accelerate payment cycles. AI applications, including invoice analysis, claim verification, contract compliance monitoring, and risk prediction, further strengthen the accuracy and efficiency of financial processes. Despite these benefits, adoption remains limited due to technical complexity, dependence on high-quality data, implementation costs, and stakeholder scepticism. The study identifies strategies to address these barriers and highlights the complementary role of AI and FinTech in transforming construction payment management. The findings offer practical insights for researchers, practitioners, and policymakers seeking to leverage digital and AI-enabled solutions to reduce disputes, improve project outcomes, and promote a more transparent and accountable construction industry.
Unveiling the AI–Blockchain Nexus in Sustainable Food Supply Chains: A Meso-Level Systematic Review and Fuzzy Cognitive Mapping Analysis
Purpose/Aim: Describing the integration of Artificial Intelligence and Blockchain (AIB) technology, based on a review of 60 peer reviewed studies between 2018 and 2025. Methodology: Using Fuzzy Cognitive Mapping, the study models the interdependencies among factors to uncover key causal relationships within the AIB Nexus. Results: The AIB-Nexus is transforming food supply chains. Positioned at the meso level, encompassing networks of producers, processors, distributors, and retailers, the convergence of these technologies enhances sustainability performance and inter-organizational collaboration. Five core benefit dimensions are identified and synthesised: traceability, transparency, sustainability, trust, and safety. Analysis reveals that traceability and transparency emerge as most frequently cited and influential benefits, highlighted in over 75% of studies. Ultimately, the study positions the AIB Nexus as a foundational enabler of resilience, accountability, and sustainability within the global food system. Managerial relevance: enhanced traceability strengthens trust, thereby amplifying transparency and stakeholder alignment. Conclusions: a novel stakeholder-centric AIB Nexus framework is proposed that illustrates how AI and blockchain jointly optimize decision-making, enabling real-time monitoring, and promoting sustainable practices across organizational boundaries.
The Dynamic Model, Based on the Quantity Theory of Money Plus the Velocity of Money Circulation: Factor Analysis of the Inflation in USA During 1960-2024
The model for factor analysis of inflation is presented and applied to the inflation in USA during 1960-2024. GDP deflator is decomposed into three growth rates: M2, velocity M2V and real GDP. The subject is impact of money supply and velocity to the CPI and GDP deflator. As a result – the dynamic model is proposed for the factor analysis. Some results of regressions are exposed to check relations between CPI, GDP deflator and those factors. The scientific novelty – the velocity of money circulation may play key role in inflation. Velocity depends on two basis trade-offs: expected risk and return on deposits and expected risk and return in financial markets. Velocity is generally stable and tends to decrease when inflation factors are anchored. When a central bank control prime rate and ignore money supply, the market price for capital is distorted. Then three factors may come into play: an increase in inflation expectations due to increase of money supply; an increase of the money velocity due to inflation expectations; a decrease of real GDP growth due to a high prime rate. All three factors accelerate inflation and all are ignored by New Keynesian models, currently employed by central banks. Therefore, it is proposed to improve management of inflation by replacing the New Philip’s curve with the factor model based on money supply, money velocity and real GDP growth.
Rural Credit Crisis in Tamil Nadu With Reference to Structural Causes, Financial Exclusion, and the Urgent Need to Reimagine Inclusive Banking - An Empirical Assessment
This empirical study investigates Tamil Nadu's rural credit crisis, emphasizing its structural, social, and institutional causes. Despite extensive banking infrastructure and microfinance networks, a significant portion of rural households, especially small and marginal farmers, remain excluded from affordable formal credit due to land fragmentation, insecure tenancy, and stringent collateral norms. Social discrimination based on caste and gender further limits access, with marginalized groups facing higher rejection rates and smaller loan amounts. Dependence on informal sources like moneylenders and chit funds charging exorbitant interest rates exacerbates debt burdens and cycles of over-indebtedness. Procedural barriers, low financial literacy, and limited outreach hinder effective utilization of formal banking services, especially in remote areas. The economic impact includes reduced productivity, limited diversification, and increased poverty among rural communities. To address these issues, the study advocates for reimagining inclusive banking models leveraging digital technology, simplifying procedures, recognizing diverse collateral, and promoting social inclusion. Strengthening cooperative banks, expanding micro-credit schemes, and deploying community-based digital financial services are vital reforms. A comprehensive approach integrating institutional reforms, technological innovation, and targeted social measures can foster financial resilience, reduce reliance on exploitative informal credit, and promote sustainable rural development in Tamil Nadu. This reform-oriented strategy aims to bridge the gap between formal financial institutions and rural households, ensuring equitable access and fostering inclusive growth. This study examines urgent and relevant issues that are gaining prominence in our rapidly evolving and interconnected world, underscoring their importance within the present global landscape.
The Double-Edged Sword of Decentralization: Cryptocurrency Adoption and Risk
This study offers an in-depth examination of the transformative influence of cryptocurrencies on global economic and financial systems, emphasizing their interplay with financial inclusion, regulatory evolution, and decentralized economic frameworks. Employing a mixed methods design that combines quantitative regression modeling with qualitative analysis, the research uncovers new insights into cryptocurrency adoption, particularly within emerging economies and financially marginalized populations. Unlike previous studies that focus primarily on technological or speculative dimensions, this paper critically investigates cryptocurrencies as both catalysts for financial democratization and potential sources of systemic risk. It develops a balanced framework for understanding how decentralized finance (DeFi) can coexist with regulatory oversight, proposing evidence-based policy recommendations that promote innovation while safeguarding market integrity and consumer protection. Empirical findings demonstrate that cryptocurrencies facilitate broader access to financial services due to their decentralized structure and cost-efficient transactions. However, they also expose users to challenges such as extreme price volatility, cybersecurity risks, and inconsistent regulatory environments. Moreover, socio-economic analysis reveals that individuals with prior exposure to cryptocurrencies exhibit more favorable perceptions of their societal and economic impact. The research concludes that sustainable cryptocurrency integration requires adaptive regulatory models, cross-border collaboration, and continuous monitoring of technological evolution. Future studies should expand on longitudinal and comparative analyses to evaluate how evolving governance and education strategies influence adoption and trust. By situating cryptocurrencies within the broader discourse of digital transformation and economic sustainability, this paper contributes to shaping policy and industry practices that support an inclusive, resilient, and transparent financial ecosystem.
Towards a Russian Model of Islamic Banking: Legal Lessons from Bahrain, Indonesia, and the UAE
Islamic banking law is a growing matter in the Islamic world. This kind of banking law which is based on Sharia, recently has played a big role in attracting foreign investments in Islamic states. The significant impact of this banking system has made some states to adopt a precise legal framework for their Islamic banking; As the United Arab Emirates in 1985, Bahrain in 2006 and Indonesia in 2008 have approved their Islamic banking laws. Russia, as a state with Muslim republics, adopted the Islamic Banking Law which entered into force in four republics, namely Republic of Bashkortostan, Tatarstan, Dagestan and Chechnya on September 1, 2023. Purpose: The main purpose of the paper is to answer the basic question: What is a good framework of Islamic banking law which can attract foreign investments? Method: the qualitative and general logical methods, as well as research techniques are used in analyzing shariah law especially Islamic banking contracts and the complying the Russian banking law with the Sharia framework. Results: considering the United Arab Emirates Law No. 6 of 1985 on Islamic banks, the law No. 21 of 2008 on Islamic banking of Indonesia and Bahrain Islamic banking regulatory framework No. 64 of 2006 as a comprehensive Islamic banking laws and analyzing the new Russian banking law, I came to the conclusion that a good framework of Islamic banking law which attracts foreign investment is based on four criteria i.e. Islamic basis, Islamic contracts, Islamic financial institutions and Islamic supervision.
Copyright (c) 2025 Journal of FinTech and Sustainable Finance
A Systematic Literature Review of the Pecking Order Theory on Financing Decisions
This study is a Systematic Literature Review (SLR) that aims to evaluate the application of Pecking Order Theory (POT) in corporate financing decisions published between 2020 and 2025. The article selection process was conducted using the PRISMA 2020 protocol, with relevant articles selected through a search in the Scopus database, based on inclusion criteria that included: time range (2020–2025), field of study (Business Management and Accounting), document type (article), keywords (Pecking Order Theory), language (English), and open access status. Of the total 1027 articles found, 31 articles met the inclusion criteria and were used as research objects. The results showed that POT theory remains relevant in explaining corporate financing behavior, especially in developing countries, although some findings indicate a combination with other theories, such as Trade-Off Theory (TOT). Empirical findings reveal that factors such as profitability, liquidity, company growth, and tangible assets have a significant influence on the order of corporate funding preferences, which begins with the utilization of internal funds, followed by debt, and finally the issuance of new shares. This study also reveals that although POT is widely applicable, its application shows variability influenced by factors such as economic context, regulations, and company characteristics.
FinTechs and Crypto Valuation: A Comparison with Traditional Assets
Purpose: To show how FinTechs (exchanges, payment apps, neobanks, brokers, custodians) shape crypto-asset valuation by mediating access, liquidity, settlement, and compliance, and to bridge appraisal logics from traditional assets to tokenized markets. Methodology: I extend a multilayer valuation framework with a copula-based interdependence structure to include a FinTech intermediation layer. Traditional finance factors (L1), crypto-native fundamentals (L2), and sentiment/behavioral signals (L3) are augmented with FinTech variables, including stablecoin rails, exchange microstructure and outages, payment-app adoption, and custody/prime-broker collateral usability. Identification relies on interaction terms and event-style tests around platform launches, fee changes, outages, partnerships, and regulatory actions. Data: Token-level prices and liquidity measures; exchange depth/spreads and outage logs; stablecoin supply/velocity; and FinTech adoption proxies (e.g., app downloads/DAU, supported fiat rails, custody features, fee tiers). Regulatory and platform news provide time stamped events. (Frequency aligned to the main specification.) Findings: Higher FinTech intensity is associated with faster error-correction after information shocks and stronger transmission of valuation signals when stablecoin liquidity and exchange depth are high. Outages and funding frictions increase tail dependence. Adding FinTech terms improves explanatory power and stress-window accuracy without materially altering baseline coefficients. Original contribution: The paper makes FinTech intermediation an explicit, testable layer in crypto valuation, linking platform conditions to price discovery within a transparent, regulation-ready (MiCA/SEC) and ESG-aware framework. This clarifies how appraisal paradigms from traditional assets extend to crypto when routed through modern FinTech infrastructure.
The Role of Venture Capital Investment Trusts in Startup Financing: Financial Performance Analysis Using Entropy and TOPSIS Methods
This study assesses the financial performance of eight Venture Capital Investment Trusts in Türkiye over 2021-2024 using an Entropy-TOPSIS multi-criteria decision-making framework. Twelve financial ratios representing liquidity, profitability, leverage, and efficiency dimensions are used to construct annual decision matrices. Entropy results indicate that liquidity indicators carry the highest weights, while leverage-related measures are least influential; profitability maintains moderate importance, and efficiency gains greater prominence in 2023–2024. Using these objective weights, the TOPSIS analysis shows that Hub consistently achieves the highest performance, followed by Gözde VCIT, whereas Bulls VCIT and İş VCIT display weaker and more volatile results. The dataset is derived from independently audited annual reports retrieved from the Borsa Istanbul Public Disclosure Platform. Overall, the findings demonstrate the usefulness of the Entropy–TOPSIS approach for transparent, multidimensional performance assessment in a regulated emerging market and provide a practical quantitative framework for policymakers and investors.
Exploring Banking Patterns and Service Accessibility Among Tribal Households: An Empirical Investigation
The study assesses the factors influencing the banking habits and service accessibility of tribal community people. The study is confined to the Odisha province of India. ANOVA and explorative factor analysis followed by linear regression have been applied for the impact assessment. The study analysed the responses from 274 tribal households. It is found that factors like employee cooperation, convenience location, and service banking have a significant impact on tribal community households, but banking habit has no such impact. Additionally, it implies that other aspects of financial accessibility should be investigated, from having a bank account to fully utilizing contemporary financial tools. The research findings on the banking structure and service access patterns of tribal Households in Odisha, India, have several implications for policymakers and financial service providers. First, identifying the population's banking usage pattern would enable the customization of service provision to meet their needs. More accessible and individualized services would contribute to unprecedented economic empowerment of tribal communities through financial inclusiveness. Second, identifying barriers to banking services can help design and implement targeted initiatives to bring a more significant number of tribal people into the fold of the formal financial system. These findings would contribute to more effective ways of educating and mainstreaming tribal people, facilitating their socio-economic development.
Fintech Revolution in Micro Textile Industry: A Study Focusing the Case of Punjab, India
The purpose; The purpose of this study is to examine the perceptions of micro-enterprises regarding the use of FinTech tools to meet their financial requirements. In the Indian context, micro-enterprises within the textile industry form a critical pillar of the economy, sustaining growth while generating significant employment opportunities. Despite facing considerable challenges—including inadequate infrastructure, limited access to institutional finance, and restricted market linkages—this sector has demonstrated remarkable growth in employment generation, investment inflows, production capacity, and overall contribution to the national GDP. Methodology; The study adopts a quantitative research approach, collecting a total of 100 primary responses through a structured questionnaire. Findings; The survey reveals that firms' understanding of FinTech instruments, as a source of loan is fairly poor. In addition, the study's data generates three unique aspects: the Banking, MSME, and FinTech aspects. Fintech is gaining recognition in the Textile business, but it is not yet pervasive. Entrepreneurs in the Textile business are in severe need of Fintech funding alternatives. Entrepreneurs are unsatisfied with the services provided by banks, but they have no alternative options for obtaining financing. Fintech is considered by the Micro Textile sector to be the finest alternative source of funding and financial support. Originality; Numerous scholars have examined diverse dimensions of FinTech application and utilisation, as evidenced by prior research. However, there are very few studies focusing on rising nations, although their need is rather strong. This is a good effort concerning the Indian state of Punjab from a FinTech stand point on MSME’s.