Abstract

This study investigates how FinTech services have affected Financial Inclusion in Kenya based on FinTech and financial inclusion data from audited individual Company financial statements and the Central Bank of Kenya. The general objective of the study was to investigate the effects of the credit-oriented, savingsoriented and transactional-oriented FinTech services on financial inclusion in Kenya. The quick acceptance of FinTech in Kenya, coupled with the mobile banking platforms already in place, has proven the possibility of opening up opportunities for Kenyans, giving them more credit and savings and transactional access options with these kinds of technologies. The study used descriptive design method and used secondary data gathered from annual reports and financial statements of regulated banks and the World Bank on various financial inclusion parameters. Inferential and descriptive statistics methods including Pearson's correlation and regression analysis were used to interpret and analyze the data. The findings show that there is a positive link between the FinTech transactional services, FinTech savings services, and financial inclusion. However, they show a negative correlation between FinTech credit services and financial inclusion. The researcher urges the Central Bank of Kenya to enhance the (Digital Credit Providers) Regulations released in March 2022 and regulate terms of credit product offerings that are currently a bottleneck towards achieving financial inclusion.

Keywords: Financial Inclusion, FinTech, FinTech services, Kenya