Banking made easy: the new theory of digital financial inclusion from a users' perspective
Sau Wai Law
What the paper says
Existing studies of financial inclusion focus on reflecting its availability and accessibility only. This paper fills this gap by identifying factors to evaluate digital financial inclusion, defined as the impact of technology on financial inclusion, from the users' perspective. In 2019, Hong Kong launched eight virtual bank licenses with an aim to promote financial inclusion. It offers a suitable environment to address this issue. Results from 20 focus groups show that the intended usage of the virtual-only banking platform is affected by four thematic factors: namely: users' sense of security; engagement of regulators; promotion of the social acceptance of technology; and transparency and history of bank operations. These factors should be embedded into the landscape of banking regulation through a digital financial inclusion index as a prompt indicator of the digital acceptance level. This will assist regulators to offer timely policies to adapt to the fast-changing bank digitisation process.
3 citations
Evidence weight
Balanced mode · F 0.40 / M 0.15 / V 0.05 / R 0.40
| F · citation impact | 0.41 × 0.4 = 0.16 |
| M · momentum | 0.57 × 0.15 = 0.09 |
| V · venue signal | 0.50 × 0.05 = 0.03 |
| R · text relevance † | 0.50 × 0.4 = 0.20 |
† Text relevance is estimated at 0.50 on the detail page — for your query’s actual relevance score, open this paper from a search result.