Cuadernos de Economía

ISSN : 0210-0266

Navigating the Uncharted: The Shaping of FinTech Ecosystems in Emerging Markets

  • Mousa Ajouz , Palestine Ahliya University; Bethlehem; Palestine.
  • Faeyz Abuamria , Palestine Ahliya University; Bethlehem; Palestine.
  • Imad Al Zeer , Palestine Ahliya University; Bethlehem; Palestine.
  • Mahmoud Salahat , Palestine Ahliya University; Bethlehem; Palestine.
  • Maha Shehadeh , Applied Science Private University; Jordan.
  • Ruaa Binsaddig , University of Business and Technology, Jeddah, 21448, Saudi Arabia.
  • Abdalmuttaleb Al-Sartawi , Accounting Finance & Banking Department, College of Business & Finance, Ahlia University, Manama, Bahrain.
  • Nidal Mahmoud Al-Ramahi , Business Faculty, Zarqa University, Zarqa 11831, Jordan.


Fintech, Ecosystem, Emerging Markets, Financial Inclusion..


Although there is a significant gap in comprehensive research on FinTech ecosystems in emerging markets, it is evident that these regions hold immense potential for growth in the field of financial technology. This study explores the FinTech landscape of these markets, focusing on the opportunities and challenges that exist. We emphasize the necessity of adopting localized, trust-oriented strategies, strengthening capacity, and exploring under-represented segments such as small markets and Islamic Finance. We further identify the need for confidence-building measures, customer-focused approaches, active consumer participation, equitable FinTech reporting, and an orientation toward the Future. We strongly encourage policymakers to update regulations that prioritise consumers, create task forces dedicated to FinTech, promote collaboration among regions, and ensure that business models comply with existing laws. We suggest simplifying regulations and developing a flexible, industry-specific regulatory action plan. In addition, we emphasise the significance of strategic investment in emerging market FinTech companies through secure regional registration, investor education, qualification programmes, third-party evaluation, and promoting mergers and acquisitions. These factors are essential for nurturing a strong FinTech ecosystem in these markets.