Does digital transformation drive fintech inclusion through inter-rationality in open innovation dynamics, and is this relationship moderated by blockchain

Digital transformation has emerged as a cornerstone of economic development, enhancing competitiveness and accelerating financial inclusion through technology-enabled systems. Fintech inclusion, in particular, is critical for broadening access to financial services and fostering industry growth through innovation. Drawing on growth theory and the principles of open innovation, this paper investigates the impact of digital transformation on Fintech inclusion and introduces inter-rationality as an organizational capability that shapes open innovation processes. While prior research underscores the importance of digital technologies and collaborative innovation, few empirical studies have examined these constructs within a unified analytical framework. Data were collected from 300 innovation managers, product development specialists, R&D directors, and senior executives from Fintech-enabled organizations. Hypothesized relationships were tested using Structural Equation Modeling via the PLS-SEM approach. Results indicate that digital transformation significantly increases Fintech inclusion (β = 0.366, p < 0.001), underscoring the role of robust digital infrastructures in enhancing the availability of technology-driven financial services. Entrepreneurial growth mechanisms similarly exhibit a substantial impact (β = 0.389, p < 0.001), confirming the importance of entrepreneurial renewal in financial innovation. Furthermore, open innovation dynamics positively influence Fintech inclusion (β = 0.412, p < 0.001), highlighting the value of cross-organizational collaboration in developing inclusive financial solutions. Inter-rationality, manifested through integrative thinking, cross-functional coordination, and collaborative decision-making, emerges as a potent moderator that amplifies the effects of digital transformation, growth, and open innovation on Fintech inclusion. This moderating role suggests that organizations with higher inter-rationality achieve greater alignment between digital capabilities and inclusive financial outcomes. The study offers strategic implications for managers, researchers, and policymakers. Firms are advised to invest in digital infrastructure, open innovation strategies, and cross-functional knowledge integration to advance Fintech inclusion. Policymakers can leverage these insights to cultivate enabling regulatory and technological environments that promote inclusive finance and innovation-driven economic development.