The lack of financial issues in underdeveloped areas has been a problem in the finance world. Financial inclusion means providing financial services to both the privileged and the underprivileged. This has been a driving factor in the provision of financial services by financial institutions. However, complete financial inclusion has not been achieved and this has widened the gap between the rich and the poor. Some people from underprivileged backgrounds have no access to financial services at all. While others have limited access which should not be so. Where electronic wallets are used to satisfy customers’ needs, it has now become a basic financial tool for the populace.
Fintech expert, Longji Vwamhi has stated that financial issues services are inaccessible to millions of people around the world. Longji Vwamhi is a Development Operations expert with years in the DevOps industry. Not only that, he has built and developed many businesses and Fintech firms as a way of solving financial exclusion.
He further stated that those from developed countries are not exempted from financial exclusion. This is because some developed countries have underdeveloped areas that lack basic amenities. Meanwhile, some African, Asian, and Latin American countries top the chart of countries that provided limited financial services. Because of this, the governments of these countries are striving to provide better financial services. Similarly, financial institutions have devised several plans on how to improve financial inclusion in these places.
Read more on Daily Dialers
Top comments (0)