The Role of Financial Technology in Promoting Financial Inclusion: A Qualitative Analysis of Users' Experiences with Digital Financial Services

Abstract

Financial technology (fintech) has rapidly emerged as a transformative force in broadening financial inclusion, particularly in emerging and developing economies where large segments of the population remain excluded from formal financial systems. Despite robust quantitative evidence linking fintech adoption to improved access to financial services, the subjective experiences of users how individuals perceive, adopt, and derive value from digital financial services remain insufficiently theorised. This systematic review addresses this gap by synthesising 45 peer-reviewed qualitative and mixed methods studies published between 2019 and 2025, following PRISMA guidelines. Drawing on a phenomenological analytical framework, four major themes are identified: (1) digital infrastructure as a prerequisite for inclusion; (2) ease of use, security, and trust as primary determinants of user experience; (3) digital and financial literacy as critical mediators; and (4) regulatory environment and consumer protection as structural enablers. Comparative analysis of domestic (Indonesian) and international findings reveals convergent patterns regarding the centrality of trust and ease of use, but divergent pathways shaped by cultural context, digital maturity, and institutional frameworks. The study's novelty lies in its qualitative synthesis of user experience across diverse national contexts, moving beyond aggregate adoption statistics to capture the phenomenological meaning of fintech in everyday financial life. Implications are drawn for policymakers, fintech service designers, and financial educators.