As of 2015, there were two billion individuals on earth with no access to any form of bank account or financial services. Nearly a quarter of the world’s population.
Further, in emerging economies worldwide there are more than 200 million small and medium-sized businesses without access to financial services to help them grow.
It’s a major stumbling block on the road to economic development.
In response, the drive for global financial inclusion has never been greater, spearheaded by the World Bank’s Universal Financial Access 2020 initiative.
“To create a thriving economy, you need a thriving financial system for both individuals and businesses,” Steve Round, a director of FinComEco explains.
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