The Transformative Influence of Digital Finance on Rural Women's Financial Inclusion: Evidence from Kenya |Chapter 6 | New Advances in Business, Management and Economics Vol. 10

 

Financial inclusion refers to the process of ensuring access to financial services and providing timely and adequate credit when needed by vulnerable groups like the weaker sections and low-income groups at an affordable cost. Over the past decade, significant progress has been made in increasing financial inclusion worldwide; however, disparities still exist. Digital finance has emerged as a transformative solution to address this critical issue. This chapter explores the significant impact of digital finance on the financial inclusion of rural women, a group that has historically been underserved by traditional banking services due to geographical and socio-cultural barriers. Using a cross-sectional descriptive design with a sample of 961 rural Kenyan women, the chapter utilized Partial Least Squares Structural Equation Modeling (PLS-SEM) and the Chi-Square test of independence to assess the relationship between digital finance adoption and financial inclusion. The findings reveal a strong positive relationship between the use of digital financial systems and increased financial inclusion. The PLS-SEM analysis produced a path coefficient (β) of 0.728, indicating a significant direct influence. The R-squared (R2) value was 0.530, which means that digital finance accounts for 53% of the variance in financial inclusion. Additionally, the chapter found a very substantial effect size (f2) of 1.129, far exceeding the threshold for a large effect, confirming the practical significance of this relationship. The Chi-Square test of independence further reinforced these findings with a Pearson Chi-Square value (χ2) of 158.715 and a p-value of .000. This value is significantly higher than the critical values of 3.841 (α=0.05) and 6.635 (α=0.01) at one degree of freedom, leading to the rejection of the null hypothesis and confirming a statistically significant association between digital finance and financial inclusion. Despite these positive findings, the average digital finance score among rural women was 6.609, which is below the target threshold of 8, indicating low overall adoption. However, the study also found that over half of the respondents (70.27%) owned a mobile device and a significant majority (66.14%) had mobile money accounts, highlighting the widespread nature of mobile money in the region. Overall, the study demonstrates that digital finance provides a secure and convenient way to save and transact, serving as a gateway to formal financial services and entrepreneurial opportunities for rural women. The results emphasize the need for targeted digital literacy programs and supportive policies to empower rural women and ensure equitable financial inclusion.

 

 

Author(s) Details

Mildred Amugune
School of Business, Economics, Hospitality and Tourism Management, Machakos University, Kenya.

 

Josephat M. Kiweu
School of Business, Economics, Hospitality and Tourism Management, Machakos University, Kenya.

 

Charles Ombuki
School of Business, Economics, Hospitality and Tourism Management, Machakos University, Kenya.

 

Please see the book here :- https://doi.org/10.9734/bpi/nabme/v10/6294

Impact of Leadership Styles and Their Influences on the Growth of Fintech Start-ups in Zambia | Chapter 7 | New Advances in Business, Management and Economics Vol. 7

Fintech is the adoption of new technology that seeks to improve and automate the delivery and provision of financial services in business. Fintech firms that are emerging in economies have also disrupted the financial market space through their innovativeness and technological approaches to conducting business. In recent years, there has been a growing interest in financial technology (Fintech) research. This study set out to examine the relationship between leadership styles and the firm growth of Fintech start-ups in Zambia. A quantitative design employing a cross-sectional survey with the use of a Likert questionnaire was conducted on the leaders of top-performing Fintech firms in Zambia, as recognised by Tracxn in its May 2020 report. The dependent variable for the study was firm growth.  The study includes three leadership styles as independent variables (transformational, transactional, and laissez-faire leadership styles). Leadership styles were measured using the Multifactor Leadership Questionnaire. The most important finding is that, in Zambia, Fintech start-up growth is closely linked to transformational leadership, whereas transactional leadership has a minor impact. Laissez-faire leadership and firm growth have a weak but positive correlation. Two primary contributions to the Fintech literature are made by the study. First, the results can assist scholars in elucidating leadership styles that forecast Fintech start-up growth. Second, the creators of Fintech companies will be aware of the key leadership philosophies that can propel start-ups forward. The study has helped to show that firms that have embraced transformational leadership styles and varied their use of transactional and laissez-faire leadership approaches are more likely to experience Fintech firm growth. The limitations of this study relate to the sample size, the need to consider other readership styles, and the use of qualitative and longitudinal designs that would provide more insights and validation.

 

Author (s) Details

 

Progress Choongo
Department of Operations and Supply Chain Management, School of Business, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

 

Mungu Chileshe
School of Business Graduate Studies, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

Christine Nakamba Lesa
Department of Operations and Supply Chain Management, School of Business, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

 

Bruce Mwiya
Department of Business Administration, School of Business, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

 

Thomas Kweku Taylor
School of Business Graduate Studies, The Copperbelt University, Jambo Driver, Kitwe, P.O. Box 21692, Zambia.

 

 

Please see the book here:- https://doi.org/10.9734/bpi/nabme/v7/5309

Research on Two-way Promotion Mechanism of Digital RMB and Digital Economy |Chapter 29 | Theoretical Key Issues and Practical Development Trends of China’s Digital Economy

The two-way promotion mechanism between digital RMB and the digital economy is a research topic of great concern in the field of fintech. From the perspective of promoting the development of the digital economy, the promotion and application of digital RMB can promote the intelligentization, convenience and security of payment methods, and provide a more efficient and convenient way for data circulation. This convenience will help expand the e-commerce market scale and activate consumer demand, and at the same time provide new ideas and support for the transformation and upgrading of traditional industries. Secondly, the digital economy also plays a key role in digital currency innovation. Due to the large volume and fast speed of the digital economy, an instant and low-cost payment system is needed. By analyzing the mutual influence of digital RMB on the development of the digital economy and digital economy on digital currency innovation, this paper uses empirical analysis and intuitive data to reveal the inseparable connection and interaction between the two, aiming to explain the relationship between digital RMB and digital economy that is mutually complementary, symbiotic and prosperous. Through an in-depth discussion of the technical, policy and market factors covered by the close relationship between the two, it provides a theoretical basis for building a more healthy, stable and dynamic modern financial ecosystem.

 

Author (s) Details

Wenbo Lyu
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Zhehao Lei
Saxo Fintech Business School, University of Sanya, Sanya, 572000, China.

 

Please see the book here:- https://doi.org/10.9734/bpi/mono/978-93-48388-89-6/CH29

Introduction to Finance-Banking and Financial Technology Case in Vietnam | Book Publisher International

This book aims to introduce students to the banking and finance industry and the financial technology industry to grasp the most basic regulations in the curriculum, as well as understand the financial market structure, products traded in the financial market, and development trends of the Fintech industry. Besides, it is aimed at equipping students with an understanding of job positions, recruitment needs and career opportunities, as well as professional ethical standards. From there, students can confidently participate in the professional labor market in a positive and effective way.

Author(s) Details:

Nguyen Anh Phong,
University of Economics and Law, Ho Chi Minh City, Vietnam and Vietnam National University, Ho Chi Minh City, Vietnam.

To Thi Thanh Truc,
University of Economics and Law, Ho Chi Minh City, Vietnam and Vietnam National University, Ho Chi Minh City, Vietnam.

Nguyen Thi Diem Hien,
University of Economics and Law, Ho Chi Minh City, Vietnam and Vietnam National University, Ho Chi Minh City, Vietnam.

Please see the link here: https://stm.bookpi.org/IFBFTCV/article/view/13716 

Retail Banks’ Challenges and Opportunities from Vision and Strategy to Managing People, Processes and Capital | Chapter 5 | Current Aspects in Business, Economics and Finance Vol. 3

 In general, bankers have seen a wide range of external variables as key external drivers for altering their visions, strategies, and business models, including deregulation and reregulation, competition, financial innovation, and technology. The chapter's objective is to describe the development of the retail bank from the past to the current situation, in which FinTech firms and new competitors are revolutionising the market and encouraging banks to respond consistently. The chapter begins with a brief summary of the current issues before focusing on how banks are undergoing their market transformation to reclaim their customers' everyday lives as central.

Author(s) Details:

Anna Omarini,
Department of Finance, Bocconi University and SDA Professor at the SDA Bocconi School of Management, Milan, Italy.

Please see the link here: https://stm.bookpi.org/CABEF-V3/article/view/7978

Changing Trends and Prospects of Financial Technology | Chapter 06 |New Innovations in Economics, Business and Management Vol. 7

 FinTech has the potential to completely change how financial services companies develop, distribute, and monetize their products and services. This phrase could also be applied to the technologies that these companies provide. In the payments industry, fintech has made the most progress, whereas other industries have made less progress. Fintech has altered the financial landscape in a variety of ways. Fintech can be used to obtain financial advice in addition to transactions. NBFCs offer online support in the event of a problem, allowing customers to contact a lender. Because of mobile and cloud technology, customers have embraced the concept of on-demand financing. People are becoming more comfortable handling their money and business online, according to fintech trends, and they are less willing to put their money and business on the line. The chapter provides a much-needed assessment of "Financial Technology's" current trends and prospects, as well as its growing importance. With a background detailing history, advantages, problems, and regulation, the chapter focuses on the acceptability of fintech, its users, and how it operates. The chapter finishes with a look at the future of fintech.

Author(S) Details

Buthaina Marai Alshanfari
Dhofar University, Sultanate of Oman.

Wafa Alkaaf
Dhofar University, Sultanate of Oman.

Mohammed Abdul Imran Khan
Dhofar University, Sultanate of Oman.

View Book:- https://stm.bookpi.org/NIEBM-V7/article/view/6391