FINTECH AS A STRATEGIC DRIVER OF DIGITAL TRANSFORMATION: BUSINESS MODELS, MANAGERIAL IMPLICATIONS, AND FINANCIAL INCLUSION IN DEVELOPING ECONOMIES
DOI:
https://doi.org/10.53555/62kya348Keywords:
FinTech Strategy, Digital Business Models, Financial Management, Financial inclusion, Digital Literacy, Developing EconomiesAbstract
FinTech has not only emerged as a means for financial inclusion but also as a strategic enabler of digital transformation and competitiveness for financial institutions and companies operating in developing countries. This paper examines the effects of FinTech adoption on the efficiency of transactions, optimization of costs, accessibility of credits, and value addition, particularly examining managerial and business implications. This paper uses primary data collected from 100 respondents in the Palghar district of the Mumbai region, using Paired t-tests and ANOVA to examine the effect of FinTech adoption on the number of transactions and the effect of digital literacy on FinTech adoption. The findings indicate that FinTech adoption has a significant effect on enhancing the efficiency of transactions, reducing operational costs, and enhancing the scalability of financial services, particularly among digitally literate individuals. Cybersecurity risks and infrastructure constraints are still challenges for strategic adoption. Through the application of global best practices such as the India Jan Dhan-UPI model, the Kenya M-Pesa model, and the Brazil Caixa Tem model, this paper illustrates how FinTech-enabled business models support performance enhancement and inclusive growth. This paper provides a contribution to management literature by conceptualizing FinTech as a strategic tool for operational efficiency.
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