It is an indisputable benefit that new technological developments have enabled the financial inclusion of people who would otherwise lack access to financial services – for example, there are five countries in Sub-Saharan Africa where more people have a mobile money account than a conventional bank account.
That said, more and more people with insufficient knowledge and understanding of financial concepts and risks are getting easier access to financial services. And this is true not only for developing countries but for industrialised countries, too.