Digital Economy and Financial Inclusion: The Role of Fintech in Reducing Credit Access Gaps in Rural Areas

Hiras  Pasaribu

doi:10.59890/ijaeam.v4i3.198

Authors

Hiras Pasaribu Universitas Mpu Tantular

DOI:

https://doi.org/10.59890/ijaeam.v4i3.198

Keywords:

Digital Economy, Fintech, Credit Access, Rural Areas, MSMeS

Abstract

The growth of the digital economy has created various innovations in the financial sector that have the potential to improve financial inclusion, especially for people who have faced limited access to formal banking services. One rapidly growing innovation is financial technology (fintech), which offers digital-based financial services with faster, more flexible, and more affordable processes compared to conventional financial institutions. However, credit access gaps still remain a major challenge in rural areas due to limited financial infrastructure, low financial literacy, and high transaction costs. This study aims to analyze the role of fintech in reducing the credit access gap in rural areas and its contribution to improving financial inclusion in the digital economy era. The method used is a systematic literature review by examining various scientific articles, international institution reports, and relevant academic publications on digital economy, fintech, financial inclusion, and rural credit access. The review results show that fintech plays a significant role in expanding financing access for rural communities through digital loan services, electronic payments, mobile banking, and the use of alternative data in creditworthiness assessments. The presence of fintech can lower geographical and administrative barriers that have long limited people's access to formal funding sources. In addition, fintech also encourages increased participation of micro, small, and medium enterprises (MSMEs) in the formal financial system, contributing to local economic growth

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