1.4 Billion People Lack Access to Financial Services – PwC Report

“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.”

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