From Unbanked to Digital Wallet – How Financial Institutions Can Tap New Revenue Streams
- More than 1.4 billion adults worldwide live without access to basic financial services.
- Global digital payments grew by over 50% in developing economies between 2020 and 2023.
- Nearly 24% of adults globally are unbanked, with high mobile phone penetration in developing regions.
The potential for financial institutions to tap into the unbanked market through digital wallets is immense. This not only fosters financial inclusion but also creates sustainable revenue opportunities. Institutions must prioritize innovation and customer trust to effectively lead this transformation.
