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International Finance and Accounting

Abstract

The impact of digital banking products using financial technologies is beginning to be felt not only in the banking sector but also in the whole economy of the country. In the article, theoretical and methodological approaches to the definitions of "FinTech" and "financial inclusion" are examined. It is studied the literature on relationship between innovative banking products, financial inclusion and economic growth of countries. The paper considers the issues of implementing innovative banking products for expanding financial inclusion and, as a result, the emerging prospects for accelerating economic growth. Using theoretical concepts and comparative analysis, the author substantiates the impact of financial inclusion within innovative banking products on the country's economy comparing with indicators of Central Asian countries.

References

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