From the traditional financial system to Finance 4.0: Challenges, opportunities and Morocco's position in the global transition

Abstract

Finance 4.0 represents a digital transformation of the financial sector, fuelled by disruptive technologies such as fintech, blockchain and artificial intelligence. This study analyses Morocco's position in this transition, assessing the impact of digital innovations on financial inclusion. The data used in this study are macroeconomic data collected between 2016 and 2022, and the analysis is based on a multiple linear regression model to measure the effects of these key variables. The objective is to identify the strategic levers that will enable Morocco to maximize the benefits of Finance 4.0, while overcoming the challenges associated with digitalization and the still immature fintech ecosystem. The study is based on a traditional literature review and an econometric model to measure the effects of these key variables. In addition, an international benchmark was carried out by comparing Morocco's situation with that of countries that have adopted similar digital transition strategies, such as France, the United Arab Emirates, Kenya, and Tunisia. The results show that digitalization and fintech are key drivers, but challenges remain, particularly in rural areas. The article proposes strategic guidelines to accelerate the transition to sustainable and inclusive finance.