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Financial Inclusion

Financial inclusion refers to efforts to make financial products and services accessible and affordable to all individuals and businesses, regardless of their personal net worth or company size. Financial inclusion strives to remove the barriers that exclude people from participating in the financial sector and using these services to improve their lives. It is also called inclusive finance. 

 KEY TAKEWAYS

  • Financial inclusion is an effort to make everyday financial services available to more of the world's population at a reasonable cost. 
  • Advancements in fintech, such as digital transactions, are making financial inclusion easier to achieve. 
  • However, the World Bank estimates that some 1.7 billion adults worldwide still lack access to even a basic bank account.

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