The importance of digital financial innovations developed by startups in promoting financial inclusion

الملخص EN

This research aims to highlight the role and importance of digital financial innovations developed by start-ups in closing the financial inclusion gap.

the financial sector occupies the largest share of the digital transformation process owing to the financial market’s linkage to the global market and the resulting update to technological developments in the sector.

digital transformation has been accompanied by significant growth of start-ups concerned in financial technology, including payment services, banking services, financial consulting, capital and insurance markets.

the research has reach that despite the benefits of fintech, innovations must not be expanded at the expense of the integrity and robustness of the financial system, consumer protection, and information security.

a balance should therefore be created between avoiding risks and moving towards fintech innovation, digitization, and artificial intelligence, ensuring that new technological innovations do not become instruments of fraud and piracy, and do not threaten financial stability.