Bank the Un-Banked

Strange as it may sound that there are many people in the Middle-East and North Africa region who are un-banked. According to the global fintech , 1.7 billion adults world wide are unbanked, which means they do not participate in any any primary financial product or service. According to banking services it is a critical parameter and a crucial enabler in reducing extreme poverty and boosting shared prosperity. If the banking system has failed the under privilege, at least so far technology has come to the rescue. Financial technology, more popularly referred to these as fintech, has been bringing significant value to the unbanked. and underbanked. Their solutions mostly transcend regional limitations, enable trust, and enhance efficiency. So for an agriculture worker, a wallet apps service would facilitate wage management.

An un-banked population can leave adverse fallouts in society. Besides not having easy access to financial institutions. No access to these essential services compels them to use cash and other equivalent to carry out their daily essentials. The lack of financial inclusions has a tangible impact on economic growth. Technology may not have all the answers, but it can do wonders if it develops a gender-intelligent approach over and above traditional neutral products.

The Big 5 Thank You

2020 was not just a year to make people fall sick and life’s taken, it did cost us our daily job’s and income that supported our family. During these trying times as we did send our Thank You to the front liners who worked day in and day out to help us stay safe, that wasn’t enough without mentioning these guys,The landlords who gave us their home’s to be Rent free , The Schools who cut down their fees for those suffering parents, The Banks who waived off our Loan’s due for the period, The Police who dint charge any penalty rather extended their help to the community, The Foreign Country who allowed us to stay back no matter the odds we face.

We are definitely #inthistogether and extending #BigFiveThank You to everyone in this.