Among them, 1.1 billion live on less than one dollar a day. These numbers are a representation of the great demand and need for increased access to income generating activities and to appropriate financial services for the large un-banked populace across the globe.
This is particularly true of developing economies in Africa, Asia and Latin America where nearly 90% of the world’s unbanked adults reside. The expansion of financial inclusion has thus become a critical topic in development agendas for policy makers and regulators globally, with considerable energy and resources having been devoted towards its enhancement.