Parahrase "Fintech is transforming financial services. By leveraging technology and cloud-based data, financial institutions are offering products better tailored to consumers needs at a lower cost (Arner et al., 2020; Boot et al., 2020; Philippon, 2020; Thakor, 2020). As a result, many expected that Fintech would promote financial inclusion and benefit disadvantaged groups (Demirguc-Kunt et al., 2018; Breza et al., 2020). However, despite the plethora of papers on this topic, very few have provided direct empirical evidence of the impact of Fintech on financial inclusion. This is due to challenges in measuring Fintech as its products differ greatly in scope and scale, and in measuring the digital aspect of financial inclusion. The patchy data and short time series have also compounded the challenge