Narrative review reveals roles of microfinance and mobile banking in financial inclusion, indicating challenges and opportunities.
Key Points
Microfinance notably aids poverty alleviation and women's empowerment, although outcomes can vary across different contexts.
Mobile banking has strong potential to enhance financial access by reducing transaction costs and overcoming geographic limitations.
Policy frameworks are essential for integrating financial innovations into economic strategies, yet challenges persist with user engagement.
Systemic barriers like weak infrastructure and low digital literacy continue to hinder progress in achieving financial inclusion in developing regions.