Analysis of Fintech Application Utilization on Financial Inclusion: A Literature Review (Jejak digital Jurnal Ilmiah Multidisiplin)

Summary

• Indonesia's 2024 National Survey on Financial Literacy and Inclusion reported a 75.02% financial inclusion index.p.1
• According to SNLIK 2024, the financial inclusion index stood at 78,41% in urban areas and 70,13% in rural areas.p.2
• The Global Findex 2021 database reported that the percentage of account owners conducting digital payments grew to 80% in 2021, up from 69% in 2017 and 63% in 2014.p.3
• The Global Findex 2021 survey collected data from approximately 128.000 adults across more than 120 economies.p.4
• The SNLIK 2024 national survey was conducted across 34 provinces in Indonesia with 10.800 respondents aged 15–79 years.p.4
• An IMF empirical panel study analyzing 84 countries from 2012–2020 found that digital lending had a statistically significant negative association with account ownership.p.4

Key insights

1. Digital payment adoption frequently acts as an initial entry point for underserved populations into formal financial services.p.3
2. Aggregate national survey metrics like SNLIK 2024 reflect broad financial service usage rather than isolating specific fintech application impacts.p.2
3. Empirical studies reveal that fintech impacts vary across service categories, with digital lending displaying potential risks of negative inclusion outcomes.p.4
4. Digital financial inclusion requires robust digital infrastructure, consumer protection, and financial literacy alongside application access.p.1
5. Persistent digital inclusion divides exist across gender, income levels, and urban-rural geographic divides.p.4
6. Rapid digital credit approval mechanisms can escalate over-indebtedness risks when paired with high interest rates and short repayment terms.p.3
7. Integrating financial literacy intervention directly into digital decision points helps users better evaluate costs and risks.p.7