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Global Findex: Indonesia leads East Asia and the Pacific in financial inclusion progress
Almost fifty percent (48.9%) of the adults in Indonesia now own a bank account, reflecting a true turning point in the country’s journey to boost financial inclusion. This also registers a marked improvement from its 36% of account ownership in 2014 and 20% in 2011.
- Region
- Asia Pacific
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Is Universal Financial Access Still Possible?
The most recent Global Findex survey shows 515 million adults have opened bank accounts since 2014. While that's good progress, Daniel Monehin, who heads Financial Inclusion for Mastercard, points out that owning an account is just the first step towards financial inclusion - the real value comes with being able to use it in a safe and convenient way. That's why universal financial access must go hand-in-hand with efforts to drive usage, writes Monehin, who urges the sector to focus on people, products and partnerships.
- Categories
- Inclusive Fintech, Technology
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India accounts for 55% of new bank accounts opened globally: World Bank
India's financial inclusion efforts have won recognition from the World Bank as their data indicate that 55 per cent of new bank accounts opened are from India, Financial Services Secretary Rajiv Kumar said.
- Region
- South Asia
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100m Pakistanis without a bank account, says World Bank
Pakistan is home to 100 million adults without a bank account, with 13 per cent adults citing religious concerns as a reason for not having account at a financial institution, a World Bank report on the use of financial services revealed.
- Region
- South Asia
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Bandhan-Konnagar expected to get Rs900 crore from World Bank, 3 states
The World Bank, governments of Rajasthan, Bihar and Jharkhand to fund Bandhan-Konnagar’s programme for poverty alleviation to benefit at least 300,000 families.
- Region
- South Asia
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Crypto Exchanges Coming to the Philippines in Droves
“There are 29 pending applications under different stages of processing, i.e., ongoing evaluation, awaiting submission of documentary requirements, and for presentation of business model.”
- Categories
- Technology
- Region
- Asia Pacific
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M-Pesa, Paypal deal to jolt Equity’s control
On market trends, the deal is likely to be a blow to Equity Bank which has dominated the Paypal transaction market in the Country since 2013.
- Categories
- Inclusive Fintech
- Region
- Sub-Saharan Africa
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No One Should be ‘Scared to Live too Long’ – Innovating Insurance for the Elderly
After a chilling conversation with his family housekeeper about her fear of "living too long" and becoming a burden on her family, Tyron Fouche was inspired to start Nobuntu, an insurance plan for low-income South Africans. Combining an ancient risk-sharing design with modern tools like chatbots and biometric tech, the plan offers customers an income that actually increases as they get older. Fouche discusses Nobuntu's innovative model – and the big challenges it faces – in the latest post in NextBillion’s "Startup Showcase" series.
- Categories
- Inclusive Fintech
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