Tackling gaps in emerging market banking systems can boost business growth, lift consumer demand and support overall economic growth. Through solutions such as payment platforms and mobile banking, fintech can be the gateway for the less wealthy and small and micro enterprises to financial services, raising them from ‘unbanked’ to ‘banked’ and boosting financial inclusion.
In her white paper Fintech in emerging markets, Whitney Jiranek, senior analyst global emerging market equities, shows how pioneering companies from different countries and industries found common cause in addressing these gaps, thus helping to ‘crack the code’ of financial inclusion – one of the UN’s 17 Sustainable Development Goals.
She also discusses the potential economic impact of wider access to financial services, how the uptake of mobile phones is spurring bank account openings, and some key regional trends.
“From Asia to Latin America, Africa to emerging Europe, fintech solutions are percolating, deepening the global drive to democratise access to basic services. This is a pivotal moment for financial inclusion among emerging markets. The coming decade holds tremendous promise, both for fintech players as well as those that have taken up their mantle, creating value for the whole rather than just their part.”
For more, read ‘Fintech in emerging markets: cracking the code of financial inclusion’
