Financial Inclusion Paradigm Shift in the Postpandemic Period. Digital-Divide and Gender Gap

Area of Science:

• Socioeconomics
• Financial Technology (FinTech)
• Development Economics

Background:

• The COVID-19 pandemic exacerbated existing financial inclusion disparities across age groups and countries.
• Weaknesses in banking system flexibility, customer access, and financial education for young and vulnerable individuals were highlighted.

Purpose of the Study:

• To analyze financial digitization trends and challenges during the pandemic.
• To identify key factors influencing financial inclusion inequalities.
• To propose a new model for sustainable financial inclusion.

Main Methods:

• Analysis of Global Findex database data.
• Examination of post-COVID-19 crisis findings.
• Assessment of changing consumption patterns and online transaction needs.

Main Results:

• Significant inequalities in access to financial instruments and informational asymmetry in financial education persist.
• The pandemic increased the demand for online financial transactions.
• A five-pillar framework (access, education, support tools, CSR, resilience) is crucial for sustainable financial inclusion.

Conclusions:

• Financial inclusion requires a convergent approach, treating it as a public good.
• Enhancing financial inclusion improves consumer satisfaction and quality of life.
• Addressing inequalities is vital for a resilient and equitable financial system.