Fintech Revolution: Role in Achieving the Sustainable Development Goals

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Every nation in the world is striving to achieve the Sustainable Development Goals (SDGs). In keeping with this, a sound global financial system is now required to fulfill its mandate to encourage the mobilization of private capital for the achievement of sustainable development and consistent economic growth. The fintech revolution has significantly altered the financial industry and improved financial inclusion in the nation by offering digital financial services. Fintech has contributed positively to the SDGs by providing increased access to funds and financial services, which, in turn, has resulted in improvised saving opportunities for a large group of people. A wide range of application developments, comprising blockchain, IoT (the Internet of Things), AI (artificial intelligence), big data, and mobile platforms, have recently been part of digital transformation and technological advancement, particularly in the finance sector. These application developments promised to improve performance in the financial sector. It becomes clear that financial applications for digital technology can overcome significant funding challenges for inclusive and sustainable growth. In this scenario, the chapter provides an overview and in-depth examination of the most recent advancements in financial technologies (Fintech) that support the SDGs. It also reviews the significance and effectiveness of fintech in achieving sustainable development goals like education, health, equality, etc.