A Critical Review of Digital Banking and Financial Inclusion in Fidelity Bank, Nasarawa State
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Background of the Study
Digital banking has revolutionized the financial sector, providing customers with seamless banking experiences through mobile apps, internet banking, and fintech innovations. Financial inclusion, which aims to provide banking services to underserved populations, has been significantly enhanced by digital banking technologies (World Bank, 2024). By leveraging digital platforms, banks can offer accessible, affordable, and efficient financial services, especially in regions where traditional banking infrastructure is limited.
Fidelity Bank has been at the forefront of digital banking initiatives in Nigeria, particularly in states like Nasarawa, where rural populations often face challenges in accessing financial services. Despite the progress in digital banking, issues such as digital literacy, cybersecurity risks, and poor internet penetration continue to hinder financial inclusion (Central Bank of Nigeria, 2023). This study critically reviews the role of digital banking in advancing financial inclusion in Fidelity Bank’s Nasarawa State branches.
Statement of the Problem
Although digital banking offers numerous advantages, financial exclusion remains a significant challenge in Nigeria. Many individuals, particularly in rural communities, lack access to digital financial services due to technological barriers, insufficient awareness, and infrastructural constraints. While Fidelity Bank has implemented several digital banking strategies, the extent to which these initiatives have improved financial inclusion in Nasarawa State is unclear. This study aims to examine the effectiveness of digital banking in bridging the financial inclusion gap in Fidelity Bank, Nasarawa State.
Objectives of the Study
- To assess the role of digital banking in promoting financial inclusion in Fidelity Bank, Nasarawa State.
- To examine the challenges associated with digital banking adoption among Fidelity Bank customers.
- To evaluate the impact of digital banking on financial accessibility for underserved populations.
Research Questions
- How has digital banking contributed to financial inclusion in Fidelity Bank, Nasarawa State?
- What challenges affect the adoption of digital banking services in the state?
- What strategies can enhance financial inclusion through digital banking?
Research Hypotheses
- Digital banking has a positive impact on financial inclusion in Fidelity Bank, Nasarawa State.
- Limited digital literacy negatively affects financial inclusion in rural areas.
- Improved digital banking infrastructure enhances access to financial services.
Scope and Limitations of the Study
This study focuses on Fidelity Bank’s digital banking initiatives in Nasarawa State from 2023 to 2025. Limitations include difficulties in measuring financial inclusion progress and potential biases in customer responses.
Definitions of Terms
- Digital Banking: The use of online and mobile platforms to conduct financial transactions.
- Financial Inclusion: The accessibility and availability of financial services to all individuals, particularly underserved populations.
Fintech: Financial technology that enhances banking and financial services through digital innovation.
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