The Role of Fintech in Promoting Financial Literacy

Abstract

Financial literacy is crucial in enabling individuals to make informed decisions about their personal finances, but traditional methods of promoting financial education have often struggled to reach all demographics effectively. The rise of fintech (financial technology) provides new opportunities for improving financial literacy by offering accessible, user-friendly, and real-time tools that cater to a diverse population. This paper explores the role of fintech in enhancing financial literacy through a review of existing literature, identifying key mechanisms through which fintech can influence financial knowledge and behaviour. Additionally, the paper outlines objectives for future research and practical applications in this area.