The issue of financial inclusion is drawing increasing attention worldwide. As per the World Bank, 1.7 billion adults around the globe remain unbanked, meaning they do not utilize banking services provided by financial institutions. This issue has far-reaching implications, including obstructing economic growth and fostering inequality. However, the advent of digital financial services has opened a new pathway to foster financial inclusion and reduce the unbanked population.

Understanding the Unbanked: A Closer Look

To understand the concept of financial inclusion, one needs to first understand who the unbanked are and what their needs entail. read more