Fintech and Sustainability Driving Innovation for a Greener Future

Published: April 10, 2024

Authors

Nitin Patwa, Rajsekhar Kar, Sneha Samuel, and Roshni Paul

Keywords
Fintech, Sustainable development, Innovation, Big data, Artificial intelligence, Blockchain, IoT, Digital payments

Abstract

Background: Numerous technological and managerial innovations have emerged in response to modern environmental concerns. In the era of digital transformation and sustainable finance, fintech has evolved as an alternative to traditional financial institutions. By leveraging advanced technologies, Fintech offers innovative solutions that align financial services with sustainability goals.

Purpose: This paper aims to explore the relationship between Fintech and sustainability by analyzing various areas of collaboration between Fintech and sustainable finance. The study also examines how emerging fintech innovations—such as artificial intelligence, blockchain technology, big data and analytics, IoT (Internet of Things), and digital payments—enhance sustainability.

Methods: A theoretical and descriptive approach is used in this study, relying on a comprehensive review of relevant literature, case studies, and research papers. The analysis highlights key innovations in financial technology that have the potential to support sustainability initiatives.

Results: The findings indicate that fintech and sustainable finance share numerous synergies. Fintech plays a significant role in promoting green finance, enhancing transparency, and increasing financial inclusion. Technological innovations have demonstrated their potential to mobilize financial resources more effectively for sustainable development and climate change mitigation.

Conclusion: Achieving sustainable development goals (SDGs) and addressing climate change challenges require accelerated financial innovation. Fintech has emerged as a critical enabler in this regard. However, fostering Fintech-driven sustainability solutions demands a deeper understanding of innovation processes, the factors influencing them, and the interplay between individual actors, organizational dynamics, and the external social environment. Encouraging and facilitating fintech innovations will be essential in making the financial sector more sustainable.

References

How to Cite

Nitin Patwa, Rajsekhar Kar, Sneha Samuel, and Roshni Paul. Fintech and Sustainability Driving Innovation for a Greener Future. J.Technol. Manag. Grow. Econ.. 2024, 15, 62-70
Fintech and Sustainability Driving Innovation for a Greener Future

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Issue-1May
Issue-2November
ISSN Print0976-545X
ISSN Online2456-3226
RNI No.CHAENG/2013/50088
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Articles in Journal of Technology Management for Growing Economies(J.Technol. Manag. Grow. Econ.) by Chitkara University Publications are Open Access articles that are published with licensed under a Creative Commons Attribution- CC-BY 4.0 International License. Based on a work at https://tmg.chitkara.edu.in/. This license permits one to use, remix, tweak and reproduction in any medium, even commercially provided one give credit for the original creation.

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Journal of Technology Management for Growing Economies by Chitkara University Publications is licensed under a Creative Commons Attribution 4.0 International License.
Based on a work at https://tmg.chitkara.edu.in/

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