Research Analysis
FinTech and older adults: a global synthesis of enablers, barriers, and research trends for inclusive digital finance
FinTech innovations offer immense potential for enhancing financial inclusion among vulnerable populations, particularly older adults. Existing research on FinTech adoption in this demographic remains fragmented and limited. Hence, this study presents a detailed understanding on the distribution of the scientific manuscripts across geographies, the primary enablers and barriers influencing FinTech adoption among older adults. The review also attempted to critically integrate thematic content analysis and cluster analysis to identify dominant research themes in its pursuit of enhancing the understanding of FinTech adoption among older adults. A tri-method review approach was used, integrating systematic, bibliometric and content analysis. A total of 204 Scopus-indexed publications from 2001 to 2025 were reviewed using the PRISMA 2020 protocol. The fifty-five most-cited studies were subjected to in-depth content analysis to extract dominant research themes and methodological trends. Most impactful research themes are identified through tree map visualizations and keyword thematic mapping in the literature on FinTech adoption among older adults. Findings show that United States leads in publication output and PLOS ONE emerges as the most influential journal. Five thematic clusters were identified: (1) Digital Financial Inclusion and ICT adoption; (2) Cognitive perspectives on internet use; (3) Healthcare financing and economic challenges; (4) Psychological and organizational dimensions in elder caregiving: health, motivation and crisis responses; (5) Digital finance, social isolation, and financial well-being. Despite growing academic interest since 2021 in the area of FinTech adoption among older adults, studies from developing societies remains limited. The overall findings from this study highlight that socio-economic conditions significantly influence cognitive and techno-logical engagement among older adults, while helping in achieving social and financial inclusion. However, there is need for context-specific policy interventions and inclusive FinTech product designs that cater to underprivileged populations. Further research needs to develop understanding of regional socio-cultural dynamics in FinTech adoption among older adults.
Executive Impact Summary
This comprehensive review synthesizes 204 Scopus-indexed publications from 2001-2025 on FinTech adoption among older adults. It highlights the growing academic interest since 2021, particularly in developed economies. Key findings reveal that socio-economic conditions significantly influence cognitive and technological engagement, crucial for social and financial inclusion. The study identifies five thematic clusters: Digital Financial Inclusion & ICT Adoption; Cognitive Perspectives on Internet Use; Healthcare Financing & Economic Challenges; Psychological & Organizational Dimensions in Elder Caregiving; and Digital Finance, Social Isolation & Financial Well-being. Despite increasing research, there's a notable gap in studies from developing societies. The findings underscore the need for context-specific policy interventions and inclusive FinTech product designs for underprivileged older populations, emphasizing regional socio-cultural dynamics.
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Total Publications
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Total Citations
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Influential Sources
USA, China, UK
Top Contributing Countries
Deep Analysis & Enterprise Applications
Select a topic to dive deeper, then explore the specific findings from the research, rebuilt as interactive, enterprise-focused modules.
Digital Inclusion & ICT Adoption
Cognitive Perspectives
Healthcare Financing & Economic Challenges
Psychological & Organizational Dimensions
Digital Finance, Social Isolation & Well-being
54%
of older adults face digital divide due to low literacy.
FinTech innovations hold immense potential for enhancing financial inclusion among older adults. However, despite rising technology ownership, their engagement remains limited due to underlying psychological, cognitive, and social barriers. Effective adoption requires addressing these challenges through inclusive digital financial policies.
Enterprise Process Flow
Identify Age-Specific Barriers
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Develop User-Friendly FinTech Solutions
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Implement Digital Literacy Programs
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Foster Intergenerational Support
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Achieve Financial & Social Inclusion
Cognitive abilities, attitudes, perceptions, and motivations significantly influence older adults' technology acceptance. Research highlights the importance of digital literacy and self-efficacy as key enablers. Older adults are often conservative and risk-averse towards new innovations, preferring to observe peer success before adoption.
| Factor | Older Adults | Younger Adults |
|---|---|---|
| Digital Literacy |
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| Risk Aversion |
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| Trust in FinTech |
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| Mobile Payment Adoption |
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Case Study: FinTech in India's Healthcare for Older Adults
In India, equitable healthcare delivery for older adults faces significant challenges due to social, economic, and medical determinants. FinTech can play a crucial role in addressing catastrophic healthcare financing issues in developing economies. Proper digital finance mechanisms, such as healthcare wallets and AI-driven financial services, can help older adults manage medical expenses and enhance financial literacy. This aligns with SDG goals for universal health coverage and reducing inequalities.
Citation: Sahoo et al., 2021; Panda & Mohanty, 2022
Healthcare costs increase with age, and financial factors significantly influence access to and decision-making for older adults. The cluster analysis reveals an emphasis on longitudinal studies tracking healthcare expenditure and financial planning across different age groups. Interdisciplinary integration, particularly behavioral economics, is vital for tech-driven healthcare solutions.
Psychological impacts on caregivers, including heightened stress and burnout, are critical. Organizational support systems and workforce challenges influence caregiver well-being and patient outcomes. Health promotion initiatives strengthen resilience. Technology should promote social networks and strong institutional frameworks customized for community structure.
78%
of caregivers experienced increased stress during COVID-19.
Digital Inclusive Finance offers accessible, user-friendly financial environments for older adults, lowering barriers to service access and enhancing financial literacy. However, social isolation exacerbates financial marginalization, as older adults with limited social interactions are less likely to engage with FinTech solutions. Community-based financial education and digital literacy programs are crucial interventions.
$1.7B
global population aged 65+ by 2054, underscoring need for inclusive finance.
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Implementation Roadmap
A phased approach to integrating AI and FinTech solutions for inclusive digital finance among older adults.
Phase 1: Needs Assessment & Pilot Programs
Conduct in-depth regional socio-cultural needs assessments. Launch pilot programs for age-friendly FinTech tools in underprivileged communities. Focus on co-creation with older adults and caregivers.
Phase 2: Digital Literacy & Trust Building
Implement targeted digital literacy campaigns and community-based support initiatives. Introduce trusted, intergenerational knowledge transfer programs. Address security concerns and build trust through transparent FinTech solutions.
Phase 3: Policy Interventions & Product Design
Develop context-specific policy interventions, including regulatory frameworks to reduce fraud. Design inclusive FinTech products with large fonts, voice assistance, and simple navigation. Emphasize cognitive accessibility.
Phase 4: Ecosystem Integration & Scaling
Foster collaboration between FinTech companies, NGOs, and governments. Integrate FinTech solutions with healthcare financing and social support systems. Scale successful models to broader vulnerable older adult populations.
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