Effects of Information and Communication Technologies on the Banking Inclusion of Populations in the West African Economic and Monetary Union

This article analyzes the effects of information and communication technologies on the level of banking inclusion of populations in the West African Economic and Monetary Union (WAEMU). To this end, it is a contribution to the exploration of new and innovative ways of solving the problem of banking exclusion of populations in an area where more than half of the adult population remains excluded from the financial system in general. The theoretical frameworks used in this research are those of the frontier theory of access possibilities and access barriers to financial services, and client selection theory. A linear model based on panel data has been adopted in this article to analyze the empirical link between information and communication technologies and the banking inclusion index of the populations in the Union over the period 2006-2016. The model was estimated using the panel-corrected standard error method. The results show that the use of ATMs and the Internet diffusion among the WAEMU population positively and significantly influence the level of banking inclusion of the WAEMU population. The use of information and communication technologies by both the population and the banks is an innovative way of improving the level of banking inclusion of the Union population. To improve banking inclusion in the Union, the article encourages banks and the population to rely more on the use of these technologies.