Digital innovation can remove practical barriers

Financial inclusion and fintech are increasingly connected. Mobile banking, digital payments, USSD services, mobile money, remote onboarding, and data-enabled products can help bring financial services closer to people and businesses that traditional channels do not always reach.

More broadly, the term FinTech refers to companies that leverage digital technologies to design, deliver, or enhance financial services. They are generally characterized by extensive use of digital technologies and data, as well as largely digitalized customer journeys. Contrary to a sometimes common misconception, however, a FinTech is not necessarily a financial institution offering exclusively digital services: the term encompasses a broader range of players, from payment and online lending providers to savings, insurance, financial management, and financial infrastructure solutions.

For many customers, the challenge is practical rather than theoretical. A branch may be far away. Travel can be costly. Business owners may not be able to leave a shop or farm during the day. Some customers may own a basic handset rather than a smartphone. Digital finance can create alternative ways to make payments, check balances, save, or manage repayments.

This does not mean that every digital product is automatically inclusive. The relationship between financial inclusion and fintech depends on whether the service is affordable, easy to understand, dependable, and suitable for local needs.

The most relevant solutions often combine several channels. A mobile app may work well for connected users, while USSD or agent-supported services can be more appropriate for people with limited connectivity or digital confidence.

What digital finance can improve

Digital financial services can reduce travel and waiting time, making everyday transactions easier for households and enterprises. For a microbusiness, faster access to payments can support cash-flow management. For a customer living far from a branch, remote access can make a savings or repayment journey more manageable.

Digital tools can also expand the range of services available to underserved groups. Payments, savings, loans, insurance, and financial information can be offered through more convenient channels, especially when providers work with mobile network operators, local agents, and community-based support.

Competition between banks, microfinance institutions, mobile money operators, and fintech firms can encourage better experiences and broader choice. However, inclusion should be measured by responsible usage and customer benefit—not by downloads or account openings alone.

The World Bank notes that digital transformation also requires strong consumer protection, sound regulation, payment infrastructure, and access to credit information. These foundations help innovation remain safe and sustainable.

Designing for people, not only for technology

Digital finance can unintentionally deepen exclusion if customers lack a phone, connectivity, affordable data, digital skills, or confidence in online services. Fraud concerns and unclear fees can also deter adoption.

Women and rural users may face additional barriers. The World Bank’s research on women’s digital financial inclusion shows why gender-aware product design, accessible channels, and practical customer support matter.

Responsible providers should use plain language, transparent pricing, robust data protection, effective complaint processes, and appropriate credit assessments. Financial education is not an optional add-on; it helps customers use services safely and make informed choices.

Advans: digital channels in service of inclusion

Advans International uses digital solutions as part of its wider strategy for financial inclusion and fintech. Its aim is to provide services to small local businesses, farmers, and underserved customers while reducing geographic and operational barriers. This hybrid approach, combining technology with close customer relationships, is often referred to as the “High-Tech, High-Touch” model.

In Ghana, MobiBank enables deposits, withdrawals, transfers, and selected value-added services through USSD. In Cameroon, Advans Money leverages a partnership with Orange to enable deposits, withdrawals, and balance inquiries. In Nigeria, the Adspire mobile application gives Advans clients an additional channel to access services independently. Advans’ digital platform overview explains how these channels complement savings, credit, and customer support.

The purpose is not to digitise for its own sake. It is to offer more convenient, secure, and customer-centred financial access while preserving the human support and responsible practices that long-term inclusion requires.

To learn more about the High-Tech, High-Touch approach in microfinance, read our article on how Customer Relationship Centers help strengthen customer support and financial inclusion across Africa.