Financial Inclusion in the Digital Age
The Global Findex database is the world’s most comprehensive set of data on how people make payments, save money, borrow and manage risk. Launched in 2011 by the World Bank, it includes more than 100 financial inclusion indicators in a format allowing users to compare access to financial services among adults worldwide – including by gender, age and household income. This third edition of the database was compiled in 2017 using nationally representative surveys in more than 140 developing and high-income countries. The 2017 edition includes updated indicators on access to and use of formal and informal financial services. It features additional data on Fintech (financial technology) and digital financial services, including the use of mobile phones and internet technology to conduct financial transactions. The report discusses opportunities to expand access to financial services among the unbanked, and ways to promote greater use of digital financial services among the underbanked. The 2017 Global Findex data shows that while many economies have seen increased account ownership since 2014, others saw increases in use of accounts for digital payments. Another key finding is that mobile money has taken root in new parts of Sub-Saharan Africa.
This event will serve to present the findings of the most recent Global Findex data, using that as an opportunity to discuss the challenges and opportunities in financial inclusion more broadly.
This event is made possible by general support to CSIS.