Impact of ICT and Digital Transformation on Financial Inclusion and Economic Growth

The 21st century uses financial inclusion as its primary method to achieve equal economic growth. The financial services sector has undergone a major transformation because people now use digital systems and Information and Communication Technology (ICT) continues to develop rapidly. The research paper uses ICT and digital transformation technology to study their role in advancing financial inclusion which drives economic development. The research examines how mobile banking systems and digital wallet services and artificial intelligence technology improvements help people without sufficient banking resources to access financial services. The research uses empirical evidence and theoretical frameworks and worldwide case studies to demonstrate how digital financial services enable people to access economic opportunities while they reduce transaction costs and increase economic productivity. The research will also examine multiple obstacles which include digital divides and regulatory security gaps and social and economic disparities. The study demonstrates that ICT-based financial services enable more people to access banking services which results in a statistically significant positive impact on economic development.

Authors

Publication Details

Journal
The Journal of Theoretical Accounting Research
Published
2026-10-29
DOI
https://doi.org/10.1922/r90zbn50
Primary Topic
Economic Growth and Development
Type
article
Field-Weighted Citation Impact
0.00
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article

Impact of ICT and Digital Transformation on Financial Inclusion and Economic Growth

Dr. Ashish Malik, Dr. Swati Singh, Dr. Amrita Singh
3 links
The Journal of Theoretical Accounting Research
Economic Growth and Development
article

Impact of ICT and Digital Transformation on Financial Inclusion and Economic Growth

Dr. Ashish Malik, Dr. Swati Singh, Dr. Amrita Singh
article en

Abstract

The 21st century uses financial inclusion as its primary method to achieve equal economic growth. The financial services sector has undergone a major transformation because people now use digital systems and Information and Communication Technology (ICT) continues to develop rapidly. The research paper uses ICT and digital transformation technology to study their role in advancing financial inclusion which drives economic development. The research examines how mobile banking systems and digital wallet services and artificial intelligence technology improvements help people without sufficient banking resources to access financial services. The research uses empirical evidence and theoretical frameworks and worldwide case studies to demonstrate how digital financial services enable people to access economic opportunities while they reduce transaction costs and increase economic productivity. The research will also examine multiple obstacles which include digital divides and regulatory security gaps and social and economic disparities. The study demonstrates that ICT-based financial services enable more people to access banking services which results in a statistically significant positive impact on economic development.

The Journal of Theoretical Accounting Research
Industry, innovation and infrastructure, Decent work and economic growth, Reduced inequalities
Openalex Percentile: Top 7%
Economic Growth and Development
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