Financial Inclusion in Developing Economies: The Influence of Accessibility, Awareness, and Usability

Abstract

The present study evaluates the relationships among financial awareness (FAW), usability (U), accessibility (AC) and financial inclusion (FI) using structural equation modeling (SEM). The study examines how financial awareness and usability contribute to strengthening financial inclusion. The primary data were collected from respondents through structured questionnaire and the hypotheses were tested with the help of Smart Partial Least Squares (SmartPLS). The measurement analysis like cronbach’s alpha (CA), composite reliability (CR), and average variance extracted (AVE) values satisfy the threshold levels. The structural results indicates that AC positively influences FAW and U. Usability was found a positive impact on financial inclusion while financial awareness positively affects both usability and financial inclusion. Additionally, there is indirect relationship between accessibility and financial inclusion revealing that awareness plays an important role between accessibility and financial inclusion. The study suggests that policymakers, and financial institutions need to focus on user friendly financial products and services that will increase financial awareness among people to enhancing sustainable financial inclusion

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