India, China, Mexico, the Philippines and Egypt were thetop five countries7to receive remittances in 2021. And one thing they all have in common is that they have a significant number of people who are underban
The technology solves the high-risk, low-reward dilemma of serving the financially excluded byNatasha Teja © Prashanth Vishwanathan/Bloomberg
NAIROBI, Kenya, 23 July 2024 -/African Media Agency (AMA)/- Despite the access to financial services that mobile money has introduced across Africa, a significant portion of the population remains unbanked and underserved. Data sharing holds the key to unlock the continents vast economic potential...
Further progress will require the increased efforts of established lenders and credit bureaus, and the innovations of FinTechs. Should these efforts and innovations materialise, the outcome will likely be more favourable for everyone. In short, more equal access to credit for the unbanked and unders...
Seventy percent of the population in the region is unbanked or underbanked. In addition, mobile phone adoption is high in the region, at more than 70%. These 2 factors offer ripe conditions for challenger banks to disrupt the traditional banking sector. N26 received its license to operate in...
This core feature of blockchain empowers the unbanked or underbanked to achieve their goals. Also Read: How to build a real estate crowdfunding platform like Fundrise Internal Auditing and Reporting Blockchain’s immutability makes it ideal for financial audits. Banks can rely on secure, ...
Tokenisation can empower unbanked and underbanked African populations that often face significant barriers to traditional banking services. This should facilitate entrepreneurial activity, allowing startups and SMEs, as well as the wider population, to more readily raise the funds they need to...
It removes intermediaries and makes it possible to include groups of people previously excluded from the economy. Those who areunbankedcan still participate in an economy using digital money. Some forms, like cryptocurrencies, allow for more privacy—beneficial for retail users but not for regulators...
Bitcoin ATMs are expected to proliferate, bridging the gap between traditional banking and digital currencies. While currently centered in wealthy nations, they are anticipated to expand into developing economies, enhancing the ability of the unbanked population to acquire cryptocurrencies. ...
IPRoyal was not the only company that had similar revelations about cryptocurrencies. For example, companies likeSurfshark leveraged crypto to offer its services to the unbanked population, whileCherry Servers expanded their scope by a large margin. ...