How Fintech is Reaching the Poor in Africa and Asia : A Start-Up Perspective
This note explores the way traditional banks and financial technology companies, or Fintech’s, interact in Africa and Asia, and their ability to offer innovative digital financial services that grant unbanked individuals access to financial transac...
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| Language: | English |
| Published: |
International Finance Corporation, Washington, DC
2018
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/832341492592362552/How-Fintech-is-reaching-the-poor-in-Africa-and-Asia-a-start-up-perspective http://hdl.handle.net/10986/30360 |
| Summary: | This note explores the way traditional
banks and financial technology companies, or Fintech’s,
interact in Africa and Asia, and their ability to offer
innovative digital financial services that grant unbanked
individuals access to financial transactions. The Fintech
sector is experiencing explosive growth in both continents,
but while Asian banks have managed to efficiently integrate
with Fintech solutions, African banks have been slower to
adapt to this change. Still, the outlook for mobile banking
remains positive, and its prevalence will boost the
financial industry in both regions. |
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