TOPIC: ROLE OF FINTECH IN FINANCIAL

DATE: ……………
INCLUSION

Certainly, let's simplify the role of fintech in financial inclusion with an

example for each point:

1. Digital Banking for Everyone: Fintech companies use apps and

the internet to let people do their banking on their smartphones.
Imagine you live in a village with no nearby bank. With a fintech app,
you can save money, send it to family, and pay bills using your
phone, even without a bank branch nearby.

2. Easy Money Transfers: Fintech also helps with sending and

receiving money. If your family member works in another city or
country and wants to send you money, fintech apps make it quick
and cheaper than traditional methods. It's like sending money
instantly from your phone.

3. Small Loans for Businesses: Fintech companies offer small loans

to people who want to start or grow a business. For example, if you
want to open a small shop, you can get a loan from a fintech app
without needing to provide a house or land as collateral.

4. Learning About Money: Fintech apps not only help with

transactions but also teach you how to handle money better. They
give you tips on saving, investing, and budgeting, which is helpful for
people who didn't learn much about finances in school.

5. Credit Without a Credit History: Traditional banks usually require a

good credit history to give you a loan or credit card. Fintech
companies look at other things, like your phone usage or how you
handle digital transactions. This means even if you haven't used a
credit card before, you can still get a loan from a fintech app.