Page 33 - "Green Investments and financial technologies: opportunities and challenges for Uzbekistan" International Scientific and Practical Conference

“Yashil investitsiyalar va moliyaviy texnologiyalar: O‘zbekiston uchun imkoniyatlar va muammolar” mavzusida xalqaro
ilmiy-amaliy anjuman materiallari to‘plami (Toshkent, JIDU, 2025-yil 7-may)

FinTech
Key FinTech Impact on GDP /
Country Adoption
Innovations Economy
Rate

Mobile payments +2–3% household
China (Alipay, WeChat Pay), 87% (EY, consumption; $434T
2023)
Digital Yuan annual transactions

14B UPI tx/month; SME
UPI, Digital lending,
India 87% credit growth; fintech start-
Paytm, Razorpay
up boom

VC-led innovation, +$1.4T GDP 2010–2022;
USA Stripe, Square, ~64% automation-driven
Robinhood productivity gains

£11B GDP contribution;
FCA Sandbox,
UK ~71% regulatory model adopted
challenger banks, Wise
globally

Project Guardian, Green +3.6% GDP growth; leader
Singapore ~67%
FinTech, MAS support in ESG finance

Growth in SME fintech,
Digital wallets,
Uzbekistan* ~40% (est.) 70+ start-ups, increased e-
superapps, IT Park
commerce

Table 1. Comparative Analysis Table. Source: World Bank, IMF, EY Global
FinTech Adoption Index, Mastercard Uzbekistan (2023), Author calculations.

This cross-country comparison demonstrates that higher FinTech adoption
correlates with increased financial inclusion, enhanced SME competitiveness, and
stronger GDP performance. However, the degree of impact is moderated by factors
such as digital infrastructure, regulatory coherence, and financial literacy.

One of the most widely documented impacts of FinTech is its role in
promoting financial inclusion, particularly in underserved regions and among
marginalised populations. Digital financial services such as mobile money, online
banking, and digital wallets have dramatically increased access to financial tools.
According to the World Bank’s Global Findex Database (2021), the proportion of
adults with access to a bank account globally increased from 51% in 2011 to 76% in
2021, with mobile financial services contributing over half of that increase in Sub-
Saharan Africa and South Asia. Platforms like M-Pesa in Kenya and bKash in
Bangladesh have provided millions with basic financial access. In developing
countries, FinTech has enabled:

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