Abstract:
The aim of this research study implicates to identify and understand the influence of financial literacy and financial technology toward financial inclusion of SMEs in Pakistan. Financial inclusion has emerged as an essential component for anticipating economic development, especially in developing markets. This study gives a thorough review of trends in financial inclusion on SMEs through technology, focusing on its pivotal impact in developing markets. This study portrays a thorough review of trends in trends in financial inclusion through technology, focusing on its transformative impact in emerging markets. In recent years technological advancements have paved the way for innovative financial solutions, topping down usual barriers to access and bridging gaps in financial services. Digital wallets, blockchain technology, and mobile banking have emerged as crucial instruments for reaching previously marginalized groups with financial services. Digital wallets, blockchain technology, and mobile banking have all emerged as crucial instruments for reaching hitherto unreached groups of people with financial services. This analysis explores the major developments influencing financial inclusion in developing nations, emphasizing the role of technology as a facilitator. The emergence of mobile banking has revolutionized the financial services industry by enabling those with restricted access to traditional banking infrastructure to carry out financial transactions with ease. Due to its safe and practical way for users to send, receive, and save money, digital wallets have become more and more popular. Because of its decentralized and transparent structure, blockchain technology has made it easier to create cutting-edge financial products like cryptocurrencies and opened up new possibilities for financial inclusion. Nonetheless, issues still exist, such as worries about data security, legal frameworks, and the level of digital literacy of users. The assessment critically looks at these issues and looks at possible fixes to make sure that financial inclusion programs in emerging economies continue to flourish in a sustainable way. Furthermore, the COVID-19 epidemic has shown how crucial it is to have reliable and easily available financial systems. The assessment evaluates how the pandemic has affected the developments in financial inclusion, pointing out the vulnerabilities that have been made public as well as the chances to better integrate technology in handling economic shocks. This review adds to the growing body of knowledge about financial inclusion in emerging markets via technology. It provides insightful information for financial institutions, governments, and tech entrepreneurs looking to use technology to promote equitable economic growth by highlighting trends, obstacles, and possibilities.
