Unbanked

2bn
Unbanked

The three main areas where we find countries where most of the adult population is unbanked is South Asia (626 million), East Asia and the Pacific (508 million), and Sub-Saharan Africa (345 million).


$380bn
Market opportunity

The consulting firm Accenture estimates that banks could generate up to $380 billion in annual revenues by closing the small business credit gap and including un/underbanked adults into the formal financial system.


59%
Unbanked

59% of adults in developing economies don’t have an account at a financial institution, and 800 million people live on less than $5 a day.

The Unbanked Market

 

There are 2 billion people in the world in the category of unbanked or underbanked, meaning they have limited or no access to the financial services. Access to
affordable financial services is linked to overcoming poverty, reducing income disparities, and increasing economic growth. Blockbonds Global strives to democratize the access for everyone in the world, by bridging the cryptosphere with traditional finance.

For instance in the Philippines more than 40 million adults have no choice but to live in a solely cash based environment – most of whom have never had the opportunity to utilize services found ubiquitous decades ago in the western world like a safe way to save, or transfer money to friends and family.

The Global Findex shows 3/4 of the world’s poor do not have a bank account, not only because of poverty, but also due to costs, travel distance and paper work involved.
E-wallets are in most scenarios created as a pan-global solution, meaning it will work everywhere on the globe as long as the user has a smartphone and Internet connection. This puts Blockbonds Global in a exciting position to identify the technologies, and companies that will disrupt the estimated $380 billion in revenues banking the unbanked will generate.

The digital banking and payments revolution have only just started, and Blockbonds Global will play a tremendous role in moving it forward.



Large unserved populations represent opportunities for institutions that are able to offer an innovative range of high-quality, affordable financial products and services. Moreover, with the right financial education and support to make good choices, lower-income consumers will benefit from credit, savings, insurance, and payments products that help them invest in economic opportunities, better manage their money, reduce risks, and plan for the future.

McKinseyCounting the world’s unbanked

World Bank – Banking the Unbanked