Moving Beyond Silo Thinking: A Deductive Analysis of Financial Literacy, Financial Inclusion, FinTech, and the UN Sustainable Development Goals

Financial literacy, financial inclusion, FinTech, and the UN Sustainable Development Goals (SDGs) have thus far been scrutinized only in pairs or separately, without considering their interdependencies and impacts. This lack of examination calls for a deductive argumentative approach to comprehensively analyze all four aspects coherently. The objective is to establish a holistic framework for attaining the SDGs through financial literacy, financial inclusion, and FinTech. The argumentation reveals the existence of intricate theoretical and empirical links between all four objects of investigation. Previous silo thinking or bilateral approaches fall short of fully understanding the comprehensive effects. This paper adopts a holistic perspective, with financial literacy serving as the starting point, as it is indispensable for establishing a positive correlation between financial inclusion, FinTech, and the SDGs. Therefore, financial literacy fosters the adoption and utilization of FinTech, contributes to financial inclusion, and facilitates the achievement of the SDGs. The holistic framework can also guide policymakers in formulating recommendations. Decision-makers should adopt a comprehensive outlook encompassing all four points and prioritize the promotion and expansion of financial education.