Risks of the Use of FinTech in the Financial Inclusion of the Population: A Systematic Review of the Literature

Abstract

Financial technology (FinTech) has significantly changed access to financial services, particularly benefiting historically marginalized communities. While it offers many advantages, FinTech also brings substantial risks associated with this digital transformation. Recent studies highlight the significant impact of FinTech on financial inclusion, especially for marginalized populations. To investigate the benefits and drawbacks of FinTech and identify specific risks affecting users, particularly vulnerable groups, we employed the PRISMA method. A systematic literature review was conducted using the Web of Science database to explore recent research on FinTech and its relationship with financial inclusion, focusing on associated risks. The search covered 2010–2025; however, after applying inclusion criteria, the final dataset comprised publications from 2012 to 2025. Unlike previous bibliometric studies broadly addressing FinTech innovations, this review identifies and categorizes key risks affecting financial inclusion, emphasizing regulatory barriers, digital literacy, and socio-cultural challenges. The review is limited by the exclusive use of Web of Science and the English language, suggesting future research avenues using additional databases and multilingual sources. Findings reveal a notable increase in research activity surrounding FinTech and financial inclusion. This highlights challenges such as data privacy, regulation, and financial literacy. By mapping FinTech-related risks, this study aims to inform policymakers and stakeholders about effective strategies to mitigate these challenges and promote safe, inclusive financial ecosystems.