Insight - Combating high fintech costs for better financial inclusion

David Velez, Founder and CEO of Nubank, a Brazilian FinTech startup, rings a ceremonial bell to celebrate his company's first trade during the IPO at the New York Stock Exchange (NYSE) in New York, U.S., December 9, 2021. REUTERS

FINANCIAL technology (fintech) peer-to-peer (P2P) lending services are able to penetrate the administrative difficulties experienced by banks in providing micro and ultra-micro credit to the public and micro, small and medium enterprises (MSMEs).

Affordability of access is often not accompanied by customer education, resulting in many implementation problems.