An Investigation into the Relationship between Financial Technology (Fintech) and Sustainable Development Goals (SDGs): Are They Synergistic or Antagonistic?

Abstract

An important turning point in the history of modern technology is marked by the G20 India Summit 2023, which fosters an environment of collaboration and innovation. The choices made reflect a global commitment to using technology, ensuring that technological progress will usher in an era of inclusive growth and sustainable development goals, while also laying the foundations for a future that is bright with technical advancements like Fintech. This study aims to explain the connection between Fintech and the SDGs. This study uses secondary data to explain the relationship between Fintech and the Sustainable Development Goals. According to empirical results, progress in the fintech sector and the pursuit of sustainable development goals remain closely and favourably linked. Fintech is now driving the SDGs. Therefore, we should focus more on promoting privacy and security concerns, otherwise, it will no longer be beneficial to economic development. The current descriptive study adds to knowledge about the relationship between fintech and the SDGs as well as the impact of innovation on the socioeconomic progress of developing countries. Empirical data highlight the importance of distinguishing between active and passive Fintech usage to predict its economic impact.