An estimated 2.5 billion working-age adults globally have no access to the types of formal financial services delivered by regulated financial institutions. For example in Sub-Saharan Africa only 24% of adults have a bank account even though Africa’s formal financial sector has grown in the recent years. Estimated unbanked in the US is 43 million and UK, 1.54 million.
The unbanked, generally the poor in society are left out of the new economy:
- Can’t enjoy lower prices and special discounts enjoyed by online shoppers
- No bank accounts to receive salaries and benefits
- Can’t enjoy the convenience of online banking and bills payments
- Can’t enjoy the convenience and security of making card or cashless payments
Download the full whitepaper below to read how Omanye aims to tackle these issues through various solutions.
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