Financial Inclusion in Sri Lanka: Current Status and Issues

Tilakaratna, Ganga

doi:10.1057/978-1-137-58337-6_6

Cited by 8 publications

(7 citation statements)

References 3 publications

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“…The result shows that Egypt is classified as one of the countries that has low digital financial inclusion level (FI index ≤ 0.5). The low level of digital financial inclusion can be attributed to different reasons; limited accessibility and acceptance of digital finance, lack of awareness of digital financial services and products, low digital skills, preference to deal directly with a bank officer, and finally lack of trust in digital financial services (Tilakaratna, 2016 andCentral Bank of Egypt, 2018)…”

Section: Estimated Results For Digital Financial Inclusion Index: (Fid)mentioning

confidence: 99%

Measuring Digital and Traditional Financial Inclusion in Egypt: A New Index

Ismael

Ali

2021

Int. J. Appl. Res. Manag. Econ.

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Digital finance has witnessed rapid development in the last few years that might threaten the way traditional financial services are being used. It creates new opportunities for small businesses and low – income groups that have no or limited access to formal financial services. Therefore, digital financial inclusion plays an important role in enhancing a country`s financial inclusion, meeting some sustainable development goals and achieving higher economic growth. Although few studies took the attempt to measure the inclusiveness of the financial system in Egypt, however, no study did quantify the financial inclusion for Egypt. This paper aims to fill in this gap by contributing to the literature in two ways; first, by introducing a novel comprehensive financial inclusion index for the first time using a three – stage principle component analysis (PCA). Second, we build two separate indices; traditional and digital financial inclusion indices through combining access, usage, and barriers indicators for traditional financial index while for digital financial index we combined access and usage indicators. Findings revealed that both “traditional financial index” and “digital financial index” are equally important in explaining the overall financial inclusion of Egypt and thus, digital finance is seen as a complement rather than a substitute to the traditional financial services. Moreover; our results also revealed that although Egypt has low level of digital financial inclusion (0.31), digital finance is playing a significant and positive role in achieving greater financial inclusion as evidenced by improving the overall index from low (0.41) to relatively high inclusion level (0.52).

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Section: Estimated Results For Digital Financial Inclusion Index: (Fid)mentioning

confidence: 99%

Measuring Digital and Traditional Financial Inclusion in Egypt: A New Index

Ismael

Ali

2021

Int. J. Appl. Res. Manag. Econ.

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“…Their evaluation is reflected in Perceived Usefulness (PU) and Perceived Ease of Use (PeU). Whereas perceived usefulness is a user perception that using the new system would increase his/her performance in the organization and perceived ease of use is the extent to which using the new system would require minimal effort on a user"s behalf (Tilakaratna, 2016).…”

Section: Theoretical Foundationmentioning

confidence: 99%

“…The adoption of technology depends on personal behaviour and external environment. People perceive that by using technology, they will obtain more benefits without doing much physical and mental effort (Tilakaratna, 2016). Davis et al (1989), describe TAM as an information system theory that models how users come to accept and use a technology based system.…”

Section: Theoretical Foundationmentioning

confidence: 99%

Electronic Payment Product and Quoted Deposit Money Banks Performance in Nigeria

Momoh-Musa¹,

Ironkwe²

2021

RJMP

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Efficient payment systems are crucial for developed and less developing countries economic development and are regarded as the backbone to a highly competitive country. Innovations in the payment industry have also lead to greater access to formal financial system. This study examined the relationship between electronic payment product and quoted deposit money banks performance in Nigeria. data on different sub-variables of electronic payment product and return on equity from 2007-2018 were collected from Central Bank of Nigeria statistical bulletin, annual Central Bank of Nigeria reports, federal Inland Revenue Service, annual reports and e-business unit report of deposit money banks. Ordinary Least Square of multivariate regression based on Auto-regressive distributed Lag, unit root test, panel co-integration, granger causality and panel dynamic error correction model was used in analyzing the data. The empirical results indicate that electronic payment product significantly relate to return on equity. We conclude that electronic payment product has the potency to make positive and significant contribution to performance and recommends that Automated Teller Machine (ATM) should be put in different locations for easily accessible by customers, so that quick service and convenience is maintained hence improving bank operations to the same time constant service should be ensured in order to provide reliability of the services. Deposit money banks and other specialized organizations should conduct awareness programs for client son the importance and ease of using electronic payment products in financial transactions in local and international markets. Banks should pay attention to issuing new and modern electronic payment methods to attract new customers and fellow developments in global markets.

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“…Their evaluation is reflected in the perceived usefulness and the perceived ease of use. Perceived usefulness looks at it from the angle that as he/she makes use of this technology, it would in turn lead to an increase in his/her performance in organizational activities, whereas perceived ease of use considers how much effort needs to be put in place to get the best out of the new technology (Tilakaratna, 2016;Yoshino and Morgan, 2016). The second stage involves the attitude of the user.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The way a person accepts or rejects a new technology is dependent on personal behaviors and external environment. Most people believe that by making use of technology, they would not have to exert much physical and mental strength (Tilakaratna, 2016). E-banking products must be structured and made available in a way that makes payment effortless and helps stir the nation toward a cashless economy (Nwankwo and Richard, 2012;Ogbeide, 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Banking technology and cashless economy in selected Sub-Saharan African countries: does education matter?

Urhie

Amonu

Mbah

et al. 2021

JMLC

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Purpose This study aims to analyze the effect of banking technology [automated teller machine (ATM) and mobile cellular devices (MOBs)] and other traditional factors on the level of currency in circulation for a sample of 21 selected sub-Saharan African (SSA) countries. It also assessed the mitigating effect of education on the relationship between banking technology and the cashless economy. Design/methodology/approach The study used a panel data approach to design a cashless economy model with banking technology – ATM and MOBs – as well as their interaction with education as regressors. Findings This study finds that MOB is significant for promoting a cashless economy, whereas ATM is insignificant in sample SSA countries. The level of education and the number of bank branches were also found to be significant in promoting a cashless economy. The interaction between education and ATM was insignificant but negatively signed, whereas that between education and MOB was significant but had a positive sign. Research limitations/implications Non-availability of data restricted this work to a panel study of selected SSA countries. Subsequent studies should consider single-country case studies. Practical implications Findings from the study imply that for banking technology to drive a cashless economy effectively, education has to be improved. Originality/value The ratio of cash in circulation to total money supply was used as a measure of the cashless economy. The study also evaluated the moderating effect of education on banking technology.

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Financial Inclusion in Sri Lanka: Current Status and Issues

Cited by 8 publications

References 3 publications

Measuring Digital and Traditional Financial Inclusion in Egypt: A New Index

Measuring Digital and Traditional Financial Inclusion in Egypt: A New Index

Electronic Payment Product and Quoted Deposit Money Banks Performance in Nigeria

Banking technology and cashless economy in selected Sub-Saharan African countries: does education matter?

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