10 Facts About Financial Inclusion
The current wave of technological innovation is shaking the foundations of how individuals and businesses manage their finances. Here are ten facts about the current state of financial inclusion.
1. Access to financial services is not uniform...
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Universal Financial Access 2020
In 2014, an estimated 2 billion adults lacked access to a transaction account (Global Findex 2014) and were excluded from the formal financial system. In response, the World Bank Group (WBG) with private and public sector partners set an ambitious target to achieve Universal Financial Access (UFA) by 2020.
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Waiving Rs 80 crore GST can boost financial inclusion
The outcome of the polls has paved the way for far reaching decisions in many areas. Financial inclusion is one such domain. Key enablers of digital financial inclusion are already in place such as the policy, platform, participation, providers, public and promise.
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Financial Inclusion - World Bank
Financial inclusion is a key enabler to reducing poverty and boosting prosperity.
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Fintechs and Financial Inclusion
Fintechs are innovating at every step of the financial services value chain, often through new value propositions, including flexible products and better ways to address the financial challenges faced by low-income customers. They are making financial services more affordable and accessible. They are improving the customer experience of financial services and accelerating use and engagement. They are also building the groundwork—including easier digital identity verification, collaborative customer due diligence, data sharing, and payment schemes—that can catalyze a host of financial services.
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