Structuring Morocco's FinTech Ecosystem: A Conceptual Framework for Advancing Open Innovation and Financial Inclusion (International Journal of Accounting, Finance, Auditing, Management and Economics)

Summary

• Morocco set a target of 75 % financial inclusion by 2030 under its National Financial Inclusion Strategy led by Bank Al-Maghrib and the Ministry of Economy and Finance.p.3
• Account ownership among adults in Morocco grew from 29 % in 2017 to nearly 44 % in 2021.p.3
• Cash in circulation remains high in the Moroccan economy, representing approximately 28 % of GDP.p.3
• The gender gap in account ownership in Morocco remains significant at approximately 20 percentage points.p.3
• Approximately 80 % of retail commerce in Morocco is still conducted in cash.p.10
• B2B e-commerce and payments startup Chari secured a $12 million Series A funding round alongside its payment institution license.p.19

Key insights

1. Open innovation serves as the central mediating mechanism that converts meso-level ecosystem structure into effective technological development.p.2
2. The proposed conceptual framework formulates nine testable research propositions designed for empirical testing using PLS-SEM.p.2
3. Financial regulation functions simultaneously as a structural antecedent and an active moderator of FinTech ecosystem dynamics.p.4
4. Ecosystem productivity depends on the structural alignment of activities around shared value blueprints rather than the mere co-presence of actors.p.7
5. In emerging markets, open innovation often requires deliberate regulatory and infrastructural backing rather than arising spontaneously from market forces.p.9
6. Financial inclusion must be measured across four distinct dimensions: access, usage, quality, and socio-economic well-being.p.9
7. Sociocultural factors like perceived Sharia compliance and family influence act as crucial moderators determining whether service access converts into actual usage.p.14