Financial inclusion: expanding access to financial services on a global scale

Abstract

Abstract. The relevance of this study is driven by the growing role of financial inclusion as a key factor in socio-economic development, inequality reduction, and the achievement of the Sustainable Development Goals in the context of the digital transformation of the global economy. Despite the significant expansion of financial access worldwide, substantial interregional disparities persist in terms of access, usage, and quality of financial services, which necessitates a comprehensive scientific analysis that accounts for both institutional and digital determinants. The purpose of the article is to provide a comprehensive analysis of the development of financial inclusion at the global level, with a particular focus on the transformation of access to financial services under the influence of the fintech ecosystem, mobile money, and digital payment instruments. The methodological framework of the study is based on comparative analysis, structural and logical generalization, as well as dynamic and regional analysis. The empirical basis is formed using data from the Global Findex Database, reports of international financial institutions, and national statistical sources, which made it possible to assess financial inclusion across institutional, digital, and behavioral dimensions. The findings demonstrate that financial inclusion is evolving from an infrastructure-oriented model toward a digitally integrated model in which fintech solutions and digital channels of customer interaction play a decisive role. It is substantiated that mobile money and digital payments significantly increase the level of active financial participation of the population, particularly in low- and middle-income countries, by compensating for the limitations of traditional banking infrastructure. The study reveals that the use of digital payments serves as an informative indicator of the quality of financial inclusion, as it reflects the actual engagement of the population in financial transactions. The applied analysis confirms the existence of a global trend toward the contraction of physical financial infrastructure alongside the expansion of digital access to financial services. The practical significance of the results lies in their potential application in shaping public policy on financial inclusion and improving digitalization strategies in the financial sector.