Approximately 1.7 billion people in developing countries have no access to financial services. In addition, around 200 million businesses in these countries are considered financially underserved. However, the participation of all people in financial services is a universally recognized societal goal. The World Bank views financial inclusion as a catalyst for achieving 7 of the 17 Sustainable Development Goals and as a crucial prerequisite for reducing extreme poverty and boosting shared prosperity. With the help of a well-functioning financial system and good financial infrastructure, it should be possible to achieve these goals. This is where the emergence of FinTech comes in. Innovations in financial technologies have led to a paradigm shift in traditional financial services and are a means to improve the functioning of the financial system and thus promote financial inclusion.