Banking on FinTech in Emerging Markets
Despite near-universal access to financial services in advanced economies, financial exclusion is stubbornly persistent in many emerging markets, leaving huge swaths of low-income populations unbanked or underbanked. FinTech companies, which apply innovative technologies to deliver such services in new ways, have begun to tap into the enormous unmet demand that this represents. These companies are starting to thrive in emerging markets, though regulatory issues, particularly weak consumer protection measures, remain to be resolved in many countries. If these can be overcome, and more progress toward universal access to digital infrastructure can be made, FinTechs will continue to scale and spread.
| Main Authors: | , |
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| Format: | Brief biblioteca |
| Language: | English |
| Published: |
International Finance Corporation, Washington, DC
2022-01
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| Subjects: | EMERGING MARKET ECONOMIES, FINANCIAL TECHNOLOGY, FINTECH, ACCESS TO FINANCIAL SERVICES, DIGITAL INFRASTRUCTURE, DIGITAL BANKING, FINANCIAL INCLUSION, |
| Online Access: | http://documents.worldbank.org/curated/undefined/765701642699455317/Banking-on-FinTech-in-Emerging-Markets http://hdl.handle.net/10986/36873 |
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| Summary: | Despite near-universal access to
financial services in advanced economies, financial
exclusion is stubbornly persistent in many emerging markets,
leaving huge swaths of low-income populations unbanked or
underbanked. FinTech companies, which apply innovative
technologies to deliver such services in new ways, have
begun to tap into the enormous unmet demand that this
represents. These companies are starting to thrive in
emerging markets, though regulatory issues, particularly
weak consumer protection measures, remain to be resolved in
many countries. If these can be overcome, and more progress
toward universal access to digital infrastructure can be
made, FinTechs will continue to scale and spread. |
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