Trust and financial inclusion: A literature review with reference to the digital transformation

E. Aracil, L. Fernández-Méndez, D. Roch Dupré, F.J. Fuertes

Heliyon Vol. 11, nº. 16, pp. e44128

Summary:

Trust is essential in finance due to the forward-looking nature of financial contracts. The growth of digital finance has amplified its role in advancing financial inclusion, particularly in emerging markets. However, existing research on trust and financial inclusion is fragmented and lacks a cohesive synthesis. This study provides a literature review to systematize the relationship between trust and financial inclusion across traditional and digital contexts. Based on this analysis, we propose a conceptual framework to clarify this relationship and identify five key transformations in the trust-financial inclusion tandem driven by digital finance. These findings offer a foundation for future research on trust and financial inclusion in a digital era. This work presents significant implications for practitioners and policymakers wishing to strengthen financial inclusion to improve social well-being and cohesion. The study on trust and its transformative role in expanding digital financial inclusion may foster the digital economy and more inclusive economic growth.

Spanish layman's summary:

La confianza es esencial en las finanzas y más aún en entornos digitales. Este estudio, partiendo de una revisión de la literatura, sistematiza la relación confianza–inclusión financiera y propone un marco conceptual, identificando cinco transformaciones clave que dan forma a esta relación y son impulsadas por las finanzas digitales. 

English layman's summary:

Trust is vital in finance and even more in digital contexts. This study reviews fragmented research, systematizes the trust–financial inclusion tandem, and proposes a conceptual framework, identifying five key transformations shaping this relationship driven by digital finance.

Keywords: Trust; Digital; Financial inclusion; Fintech; Mobile money; Technology

JCR-JIF Impact Factor and WoS quartile: 3,600 - Q1 (2024)

DOI reference: https://doi.org/10.1016/j.heliyon.2025.e44128

Published on paper: November 2025.

Published on-line: November 2025.

Citation:
E. Aracil, L. Fernández-Méndez, D. Roch Dupré, F.J. Fuertes, "Trust and financial inclusion: A literature review with reference to the digital transformation", Heliyon, Vol. 11, nº. 16, pp. e44128, November 2025. [Online: November 2025] doi: 10.1016/j.heliyon.2025.e44128