The Role of Behavioral Economics in Enhancing Financial Inclusion in the Kingdom of Saudi Arabia: Opportunities and Challenges

This study aims to analyze the role of behavioral economics in enhancing financial inclusion in the Kingdom of Saudi Arabia, focusing on the opportunities and challenges involved. Over the past two decades, Saudi Arabia has witnessed significant progress in its financial and digital infrastructure, reflected in the increasing percentage of individuals integrated into the formal financial system. Nevertheless, behavioral, cultural, and regulatory factors still limit access to banking services for certain segments of society The research adopted a descriptive–analytical methodology and employed a field questionnaire consisting of ten questions distributed to a sample of 50 participants. The purpose was to measure their attitudes toward the use of digital financial services and behavioral economics-based technologies. The results indicated that most respondents agreed that behavioral interventions (such as nudges and smart reminders) and small financial incentives contribute to greater engagement with digital banking services. Simplicity of user interfaces and the integration of artificial intelligence into banking applications were also identified as key drivers of sustainable financial inclusion Conversely, the study highlighted major obstacles, including weak digital infrastructure in some areas, the persistence of cash-based cultural preferences study concludes that integrating behavioral economics with modern financial technologies offers a genuine opportunity to achieve more inclusive and sustainable financial inclusion in line with Saudi Vision 2030