Capitalising on the EM fintech revolution

Many have no bank account

Fintech is a fast-growing area of emerging markets, as many individuals and businesses have no access to a bank account or a credit card.

Even in areas with financial services, many banks overcharge and underserve customers, while relying on old information technology architecture. Fintech companies have been quick to seize this opportunity. The potential for widespread fintech adoption has a powerful example in China. IMF raises global growth forecast but UK set to shrink Just a decade ago, consumers had few options except for state-run banks. Salaries were commonly distributed as stacks of paper bills, and e-commerce companies fulfilled orders via bike delivery, who took payments in cash. Seeing an opportunit...