Digital Financial Trends

As we come to the end of the year and review the past 2 months, we see that we have continued to make a significant impact in helping to close the financial exclusion gap worldwide. The surge in digital financial services is a major enabler as we continue to adopt services such as mobile banking, mobile money accounts, internet banking, and digital payments. Many have called this period a breakthrough moment for financial inclusion.

This is What The New Frontier of AI-Powered Financial Inclusion Looks Like - World Economic Forum

The division between the financially served and underserved still remains profound. This article discusses how Artificial Intelligence can turn vast complex data into tailored financial insights that offer services such as financial coaching. The financial coaching will help break barriers related to literacy, language and limited financial history.

Doing Good by Default: How This Vision of Consumer Protection Can Build Resilience - Mastercard

Mastercard believes that expanding access to digital finances is not enough. Consumer protection and transparency are crucial.  Consumer protection isn’t a barrier to innovation - it's what enables sustainable growth and financial resilience. By protecting consumers, it builds trust which makes it possible to expand access to digital financial tools and

How is Mobile-First Adoption Reshaping Financial Inclusion In These Markets - FintechFinance News

Mobile-first adoption is reshaping financial inclusion in markets worldwide. The real reason is a deliberate shift away from the glossy app areas and toward a robust back-end infrastructure. Reliable payment rails, fast settlement, good uptime, and low transaction costs help make mobile services trustworthy and dependable to the unbanked.  

Insurance is Foundational to Financial Inclusion - Insurance Business Magazine

In addition to this article, there have been many articles over the last couple of weeks on the new report from the Geneva Association. One of the points discussed by many is that insurance is a “core” but often overlooked component of global financial inclusion.  Insurance protects households from major shocks and helps to prevent families from sliding into poverty. Protection gaps are especially wide in emerging markets where savings and credits are not seen as equal substitutes.

How Gen Z and the Wealth Inequality Issue Could Change the Face of Fintech - Finextra

As we continue to evolve, this article writes about how the future of finance must keep in mind the social, educational and wealth disparities in our society, especially in the younger generations who have a different mindset on finances.

How Crypto Presales Are Making Financial Inclusion Possible for the Unbanked - OneSafe

Globally, traditional banking has left many struggling, but cryptocurrencies can now offer meaningful benefits to people without access to traditional banking. Traditional banking can charge higher fees while crypto enables peer to peer transfers with potentially lower fees. Buyers of cryptocurrency can also access their funds faster and directly  online without needing to go to a traditional bank.