Financial Inclusion in the Digital Age

Paper
Date Published: 
Mar 2018
Author: 
Anju Patwardhan, Kai Schmitz & Kenneth Singleton

How are technological innovations fostering creative new approaches to improve financial inclusion?

This report highlights some of the central frictions that prevent greater financial inclusion and financial well-being, and associated technological innovations that are fostering creative new approaches to mitigating these frictions for individuals and small businesses globally.

The innovations outlined in the report highlight different solutions to the three core problems across countries at different stages of development: (1) access, (2) product market fit, and (3) cost. The report does not aim to be complete but rather uses select examples of what can be achieved for financial inclusion by applying innovative business models and technology to different types of financial services for individual consumers and small businesses.

At the end of the report, authors provide a list of 100 Fintech companies globally that are supporting “Financial inclusion in the Digital Age” across four main verticals of impact: payments, lending and related ecosystem, savings and financial planning, and  insurance.

Type: 
Paper
Topic: 
Technology