Mexico: Perception of FinTech and Its Role for Financial Inclusion
Keywords:
Financial institutions, Living conditions, Technology assessment, SurveysAbstract
http://doi.org/10.5281/zenodo.4294853
Financial technology companies (FinTech) offer financial products and services, which are adaptable and practical for all audiences, through digital platforms. This makes them an alternative to boost financial inclusion and thus improve the living conditions of the population. With the aim to demonstrate that people find the use of FinTech more practical and feasible than traditional financial institutions, a virtual survey was applied to subject this data to the student T statistical test. The results show that people find more feasible and practical to use FinTech ‘s services than those of traditional financial institutions, although traditional banking still has more users. There are differences in the uses of bank accounts according to the type of institution and there is low adoption of financial technologies (CoDi and Cryptocurrency). FinTech s can improve financial inclusion by allowing easy access to the financial system. However, these innovative institutions must make a technology assessment to understand which products or services have the greatest potential among the population; as this could be key not only for FinTech s but for the whole system.
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Copyright (c) 2020 José Miguel Mata Hernández, Socorro Alejandra Castro Ponce
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