Research by the World Bank indicates more than a billion Asian consumers lack access to mainstream financial services and other corresponding benefits that come hand-in-hand with being ‘banked’. Saying that, with 51 per cent of Southeast Asian consumers being mobile-first Internet users, smartphones are transforming this. Mobile Internet use enables the creation of new instruments available to assess consumer creditworthiness, opening up access to debt capital markets.
Smartphones’ role in financial inclusion
This story is from the May 2020 edition of Entrepreneur magazine.
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This story is from the May 2020 edition of Entrepreneur magazine.
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