Since the 1990s, nearly 1.1 billion people have been moved out of extreme poverty, according to a World Bank report. Financial inclusion is a central tenet in ensuring that they can lead sustainable lives.
Traditional banking systems are being disrupted to create more opportunities for a citizen to succeed economically. With the advent of fintech, countries across the world are prioritising inclusion of the poor and minority groups, at lower costs than before.
Here are some of the key ways fintech is transforming the world as we know it, and how governments around the globe are using fintech to improve access to finance.