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The integration of financial technology (Fintech) in small and medium-sized enterprises (SMEs) offers substantial benefits in enhancing economic resilience and operational efficiency. This paper explores the multifaceted role of Fintech in providing financial inclusion, improving cash flow management, facilitating access to credit, and reducing operational costs for SMEs. Additionally, it examines how Fintech tools aid in risk management, business continuity, market adaptability, and financial stability. The paper also highlights the operational efficiencies gained through automation, data analytics, supply chain optimization, and customer relationship management. Despite these benefits, SMEs face significant challenges, including regulatory and compliance issues, barriers to technology adoption, and cybersecurity concerns. The paper concludes with practical recommendations for SMEs to integrate Fintech solutions effectively and suggests areas for future research to understand further the long-term impact and potential of Fintech in enhancing SME performance. Keywords: Fintech, SMEs, Economic Resilience, Operational Efficiency, Financial Inclusion.
Obiki-Osafiele et al. (Thu,) studied this question.