Are robo advisors robbing financial advisors? A systematic literature review paper Arti Chandani, Ankita Bhatia International Journal of Business and Globalisation, 2025 Financial technology (FinTech) has been playing a crucial role presently in the area of behavioural finance. Robo advisory is being adapted on a larger scale by investor(s) to supplement the financial advisory services. This paper is intended to study the emerging role of robo advisory services in investment decision making and wealth management practices. The objective of this paper is to provide available literature on robo advisory services. A systematic literature review (SLR) technique has been adopted as the methodology for the current research. An effective review is necessary to lay a strong foundation for advancing knowledge (Webster and Watson, 2002). This review is limited to the keywords used which are related to the topic, the journals included and time period of papers published. The study included robo-advisory in the context of investment decisions and behavioural finance, along with artificial intelligence (AI), FinTech and regulation of robo-advisory. This work will help researchers in understanding the digital investment advice landscape with special focus on robo advisory services in the Indian context thereby enabling then recognising a right direction for future work.
Bridging the Digital Divide: Leveraging Technological Innovations for Inclusive and Sustainable Finance Abhijit Ghosh, Ankita Bhatia Financial Innovation for Global Sustainability, 2025 This chapter opens with a comprehensive discussion of the concept of financial inclusion. By defining, delineating the scope, and outlining the critical need for the concept to be historical, the narrative contextualizes the development of historical strategies. A statistical snapshot implies the drawing of existing and potential economic and social harms from the financial exclusion described in the above paradigm. It proceeds from the assumption that this is a global crisis that requires immediate resolution. The primary objectives of this book chapter are to demonstrate the pivotal role digital finance plays as a driver of sustainable development, almost synonymous with the Sustainable Development Goals. It intends to evaluate the role of financial innovations in achieving global sustainability through increased access to financial services. It ultimately aims to provide a strong sense of the transformative nature of digital finance, methodically capturing areas, such as mobile banking and P2P scale, and the impact of blockchain technologies. Throughout the chapter, a multi-faceted approach is applied, which includes case studies from different economies, compares various regions, and relies on secondary sources covering the topic. Extensive literature review covers the topic from stylized facts to a broad definition of the concept. Other areas that are touched upon include the distinction and separation of digital services from traditional finance, its drivers and enablers, as well as subsequent strategies. Finally, a separate section on digital literacy as a precondition for the sustainable inclusive financial future is included. The results expose how the following technologies of mobile banking, mobile money, microfinance platforms, blockchain, and cryptocurrencies enhance transparency and lower transaction costs, thus increasing both access and empowerment. The impact is also studied quantitatively for several cases to demonstrate the effectiveness of the instruments. The potential hurdles and challenges are analyzed, and this part of the chapter also speaks about environmental aspects upon the lens of carbon frugality and energy-efficient blockchain technologies. The chapter restates conclusions once again by extrapolating the general results and claiming that digital finance is an outstanding tool of both financial inclusion and sustainability. The opinion is maintained that more collaboration and innovation need to occur to address existing challenges such as the lack of infrastructure and connectivity, trust challenges, and data protection arenas further passed. Finally, suggestions to regulatory bodies are targeted urging them to provide an adaptive framework that ensures the balance between innovation and sustainability and helps consumer interests and save the environment supportive approaches. Finally, additional calls for research areas are requested, impartial, proposing an anticipatory attitude toward developing technologies and their commencing relevance in financial ecosystems.
