1.4 Billion People Lack Access to Financial Services - PwC Report
~4 billion people in the world have never participated in saving money at financial institutions or mobile money accounts.
- "Financial inclusion remains a significant challenge, with over 1.4 billion
people (24% of the world’s adult population) lacking access to essential
financial services." - 43% of individuals in developing countries have never conducted online payments.
- Approximately 3.99 billion individuals globally have never saved money at a financial institution or using a mobile money account.
- "Although obstacles to accessing and using financial services differ
across countries and populations, cost, distance, and documentation
are consistently cited as the top reasons people remain underserved."
- "More than half of adults without an account in Sub-Saharan Africa and South Asia have a mobile phone, representing a large untapped market to leapfrog into mobile services that don’t necessarily require the internet."
