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A Study on COVID–19, Its Origin, Phenomenon, Variants, and IoT-Based Framework to Detect the Presence of Coronavirus Read chapter Read first chapter

2023 | OriginalPaper | Chapter

21. Role of the Internet of Things (IoT) in Digital Financial Inclusion

Authors : Jitender Kumar, Anjali

Published in: IoT Based Smart Applications

Publisher: Springer International Publishing

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Abstract

This chapter describes the role of IoT in digital financial inclusion. According to the World Bank, approximately 19 crore individuals are without basic banking services. Individuals who are unbanked or underbanked can benefit from financial inclusion by overcoming physical, technological, and behavioral barriers to finance usage accessibility. Unbanked persons can gain access to financial services and break out of the poverty cycle by combining online financial tools (such as smartphone remittances via IoT) with psychological tools (such as financial education). The study focuses to identify the underlying factors affecting the role of IoT in digital financial inclusion. The study is based on a sample size of 120 respondents from the National Capital Region. The principal component analysis method is used to find the factors. Total seven significant factors are identified, viz., IoT awareness, financial service awareness, usability, benefits, trust, security, and privacy, as well as accessibility.

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previous chapter IOT Sensor-Based Smart Agriculture Using Agro-robot
next chapter Diagnosis of COVID-19 Using Low-Energy IoT-Enabled System
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Metadata
Title
Role of the Internet of Things (IoT) in Digital Financial Inclusion
Authors
Jitender Kumar
Anjali
Copyright Year
2023
Book
IoT Based Smart Applications

Print ISBN: 978-3-031-04523-3

Electronic ISBN: 978-3-031-04524-0

Copyright Year: 2023

DOI
https://doi.org/10.1007/978-3-031-04524-0_21

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