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on Financial Literacy and Education |
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Issue of 2025–07–28
five papers chosen by Viviana Di Giovinazzo, Università degli Studi di Milano-Bicocca |
| By: | Khalid Lahrour (UH2C - Université Hassan II de Casablanca = University of Hassan II Casablanca = جامعة الحسن الثاني (ar)); Latifa Horr (UH2C - Université Hassan II de Casablanca = University of Hassan II Casablanca = جامعة الحسن الثاني (ar)) |
| Abstract: | Financial inclusion refers to providing financial products and services to households and small businesses that were previously excluded, as a means of promoting more inclusive growth. This includes access to savings, investment, consumption smoothing, and insurance. Fintech is the use of software, applications, and digital platforms to provide financial services to consumers and businesses through digital devices like smartphones. It has gained recognition as a promising way to promote financial inclusion. This paper examines the impact of financial technology (fintech) on financial inclusion through a literature review following the Preferred Reporting Items for Systematic Reviews and Meta-Analysis (PRISMA) to identify the ways in which fintech contributes to and can potentially contribute to increased financial inclusion. The paper provides a brief history of fintech, reviews the literature on fintech and financial inclusion, and discusses how fintech can increase access to financial services, promote financial literacy and consumer protection, and support the growth of micro and small enterprises. The paper concludes with empirical evidence on the impact of fintech on financial inclusion. |
| Keywords: | Fintech Financial inclusion Digital finance Innovation Systematic review. Classification JEL: G23 Paper type: Theoretical Research, Fintech, Financial inclusion, Digital finance, Innovation, Systematic review |
| Date: | 2025–05–31 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05137071 |
| By: | Michael S. Barr |
| Date: | 2025–07–15 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgsq:101312 |
| By: | Michelle W. Bowman |
| Date: | 2025–07–15 |
| URL: | https://d.repec.org/n?u=RePEc:fip:fedgsq:101311 |
| By: | Junzhe Jiang; Chang Yang; Aixin Cui; Sihan Jin; Ruiyu Wang; Bo Li; Xiao Huang; Dongning Sun; Xinrun Wang |
| Abstract: | Financial tasks are pivotal to global economic stability; however, their execution faces challenges including labor intensive processes, low error tolerance, data fragmentation, and tool limitations. Although large language models (LLMs) have succeeded in various natural language processing tasks and have shown potential in automating workflows through reasoning and contextual understanding, current benchmarks for evaluating LLMs in finance lack sufficient domain-specific data, have simplistic task design, and incomplete evaluation frameworks. To address these gaps, this article presents FinMaster, a comprehensive financial benchmark designed to systematically assess the capabilities of LLM in financial literacy, accounting, auditing, and consulting. Specifically, FinMaster comprises three main modules: i) FinSim, which builds simulators that generate synthetic, privacy-compliant financial data for companies to replicate market dynamics; ii) FinSuite, which provides tasks in core financial domains, spanning 183 tasks of various types and difficulty levels; and iii) FinEval, which develops a unified interface for evaluation. Extensive experiments over state-of-the-art LLMs reveal critical capability gaps in financial reasoning, with accuracy dropping from over 90% on basic tasks to merely 40% on complex scenarios requiring multi-step reasoning. This degradation exhibits the propagation of computational errors, where single-metric calculations initially demonstrating 58% accuracy decreased to 37% in multimetric scenarios. To the best of our knowledge, FinMaster is the first benchmark that covers full-pipeline financial workflows with challenging tasks. We hope that FinMaster can bridge the gap between research and industry practitioners, driving the adoption of LLMs in real-world financial practices to enhance efficiency and accuracy. |
| Date: | 2025–05 |
| URL: | https://d.repec.org/n?u=RePEc:arx:papers:2505.13533 |
| By: | Rachid Maghniwi (UM5 - Université mohamed 5, Rabat); Mustapha Oukassi (UM5 - Université mohamed 5, Rabat) |
| Abstract: | This research examines the transformational impact of financial technologies (Fintech) and artificial intelligence (AI) on the Moroccan banking sector, particularly in retail banking services. In a context of rapid evolution of the global financial landscape, Moroccan banks face major challenges in maintaining their competitiveness while meeting new consumer expectations. This study quantitatively analyzes the adoption of Fintech and AI solutions by Moroccan banks, drawing on data from Bank Al-Maghrib and major financial institutions in the country over the period 2018-2023. The results reveal a significant correlation between investment in financial technologies and improved bank operational performance, while highlighting obstacles specific to the Moroccan context, particularly in terms of technological infrastructure and regulatory adaptation |
| Abstract: | Cette recherche examine l'impact transformationnel des technologies financières (Fintech) et de l'intelligence artificielle (IA) sur le secteur bancaire marocain, particulièrement dans le domaine des services aux particuliers. Dans un contexte d'évolution rapide du paysage financier mondial, les banques marocaines font face à des défis majeurs pour maintenir leur compétitivité tout en répondant aux nouvelles attentes des consommateurs. Cette étude analyse quantitativement l'adoption des solutions Fintech et de l'IA par les banques marocaines, en s'appuyant sur les données de Bank Al-Maghrib et des principales institutions financières du pays sur la période 2018-2023. Les résultats révèlent une corrélation significative entre l'investissement dans les technologies financières et l'amélioration de la performance opérationnelle des banques, tout en soulignant les obstacles spécifiques au contexte marocain, notamment en termes d'infrastructure technologique et d'adaptation réglementaire. |
| Keywords: | Fintech, AI, Banking Services, Digital Transformation, Financial Inclusion, Fintech IA Services bancaires, Transformation digitale, IA, Services bancaires, Inclusion financière Fintech |
| Date: | 2025–06–10 |
| URL: | https://d.repec.org/n?u=RePEc:hal:journl:hal-05145200 |