Sentences with phrase «unbanked population»

The research found that new digital innovations in banking could bring significant cost reductions for global banks, alongside increased customer satisfaction and financial inclusion for unbanked populations in emerging markets.

Mauritius is luring blockchain innovators with its friendly regulatory environment and connections to countries with large unbanked populations.

Countries in Asia have some of the highest rates of unbanked populations in the world.

«We see Southeast Asia as a region with huge growth potential for WeLab due to its high percentage of unbanked population (73 % out of 600 million) which makes it impossible to borrow and its high mobile penetration rate (133 %),» said Loong.

Mobile is contributing to economic and social development across the globe, delivering financial inclusion to unbanked populations with 270 live services in 90 countries as of December 2015 according to GSMA Mobile Economy Report.

Mobile banking is also an effective tool to reach unbanked populations — particularly in emerging markets — who may not have access to brick - and - mortar branches.

While China still is the dominant force behind the success that bitcoin has had in Asia, India's influence may just help the digital currency hit new heights, especially if adopted by the country's, highly unbanked population.

Beyda emphasized that cryptocurrencies could have a significant impact on underdeveloped economies, with unbanked populations bypassing the traditional financial sector and moving directly to a crypto - based economy.

The way Abra realizes this vision is with a wallet app that leverages Bitcoin to provide a secure means of storing and transferring value, and a network of cash Tellers and exchange partners that connect the banked and unbanked populations together.

Their borderless nature is a double - edged sword: it enables criminality just as well as it gives unbanked populations access to cheap and efficient financial services.

Our unique solution allows us to serve even more of the global unbanked population, building on the 100,000 downloads already made — without the costs of providing services of either the miners or the traditional banks,» Anton Mozgovoy CTO Humaniq said.

Executives of Coinify and Blockchain expect that the partnership will serve both banked and unbanked populations globally, by allowing bitcoin wallet funding via credit and debit cards as well as bank accounts.

But more and more cryptocurrencies are being legitimately regarded by financial institutes and governments as ways to disrupt banking and bring banking services to previously unbanked populations.

Belfrics views the rollout of its African bitcoin exchanges as an opportunity to tap into the vast unbanked populations of Africa, as well as providing a viable competitor to the traditional banking sector.

Jamie Smith, BitFury's Global Chief Communications Officer, explained that the finance section was mostly focused on using the technology to involve unbanked population into cryptoeconomy.

The report notes that the largest opportunities are in regions with a large unbanked population that is young and likely to embrace mobile banking.

The Federal Reserve report also revealed a huge opportunity for the unbanked population.

India is home to 21 percent of the world's unbanked population, according to World Bank research.

This follows a challenge issued by the Vice President last year to the Bank of Ghana, the Ghana Interbank Payment and Settlement Systems (GhIPSS), the telcos and financial institutions to ensure that mobile money platforms were interoperable to make banking services more accessible to the large unbanked population, estimated to be about 70 %.

The system is expected to largely eliminate the difficulties associated with traditional banking services, and make banking services more accessible to the large unbanked population, estimated to be about 70 %.

Unemployment had been with us for years and when in 2009 telecommunication giant, MTN introduced Mobile Money services it was welcomed and hailed by many and the reason was obvious; it was an opportunity to take advantage of rising unemployment situation, growing number of the unbanked population and massive progress in ICT or telecommunications.

The company also held a competition for blockchain projects with the aim of helping the unbanked population.

He believes the technology offers a more straightforward platform for people to develop business systems as well as an opportunity for the unbanked population.

Gamaroff adds that the smart meters are ideal for reaching the unbanked population.

Indonesia's unbanked population and climbing mobile penetration rates should make it a bitcoin haven, but regulatory pressures may affect this outcome.

In countries with a large unbanked population or where currency values gyrate wildly, bitcoin can be a stabler form of payment and make commerce easier, especially for the poor.

Bitcoin also allows anyone to send money without needing a bank account, which makes it a great tool for Africa's unbanked population.

Ekasi Bucks notes that the unbanked population has been disadvantaged and has had problems of controlling their money.

And so The Year of Bitcoin extends globally as Thailand's always - bustling tourism industry, its attempt to grapple with financial technology (fintech) through regulations, and an unbanked population looking for a better life make the country fertile ground for crypto.

This is done through network agents in the informal settlement to cater for the unbanked population mainly in Africa.

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Their declared aim is to open electronic commerce to unbanked population.