Figure 1
The flowchart illustrates the process of platform finance penetration and its outcomes. The process begins with platform finance penetration, which involves digital payment and services. This leads to digital trace generation, which involves transactional data. From digital trace generation, the process branches into two paths: algorithmic financial intermediation, which involves AI and analytics, and direct visibility, which involves transaction transparency. Both paths converge into institutional and regulatory alignment, which involves governance and compliance. From institutional and regulatory alignment, the process branches into two outcomes: digital accounting inclusion, which involves formal reporting and integration, and fragmented data/no integration, which involves unstructured data and limited usability.Conceptual model. Source(s): Authors’ own creation