This study – produced in partnership with the Institute of International Finance – examines the underreported role of banks in driving financial inclusion. Of the 3.2 billion people in the world with financial transaction accounts, 97 percent hold an account at a financial institution. According to the World Bank’s Global Findex database, over 90 percent of the 721 million new accounts opened between 2011 and 2014 were opened at financial institutions—the vast majority banks, but also including credit unions, cooperatives, microfinance institutions, and postal banks. Banks are playing a leading role in providing and extending financial services to underserved populations.
For more on this story visit the following: The Business of Financial Inclusion: Insights from Banks in Emerging Markets
Source: Center for Financial Inclusion