Friendly Accessibility: How Responsible Tech Policies can Empower and Enlighten Underserved Populations
Authored By: Chibuzor Obih, Editorial Writer, Fidutam
Edited By: Tracy Dy, Editorial Director, Fidutam ; Ronit Batra, Engagement Director, Fidutam
“Policies should reflect the values and aspirations of a society, serving as a blueprint for a better future.” — Angela Merkel.
Emeka is a hardworking father of four from Nigeria. Recently, he drafted a business idea on how to produce a hundred gallons of palm oil from the oil palm fruits he planted about five months ago, and sell it to the city dwellers who visited his village twice a week. However, he couldn’t simply walk straight to his farm and start implementing his plans, as achieving his desired result would require days, if not weeks, of rigorous work. Alternatively, he could employ workers to execute his plan, but that was not feasible due to financial constraints.
Emeka considered the distance from his house to the nearest government center where he could obtain his national identity card, then once again rejected the idea. “It is too far,” Emeka would say to himself whenever the thought crossed his mind. “I can’t make such a trip just because I want access to financial services. I don’t even have internet access since I don’t own a smartphone.”
The primary requirement of many banks worldwide for individuals interested in opening a bank account is proof of identity. Without a plastic card or slip confirming citizenship, access to financial services is immediately denied. In the 2022 Annual Report by World Bank, approximately 850 million people lack essential forms of official identification, which automatically excludes them from the modern financial world. Such an estimate doesn’t even include the 7.2 billion people around the globe who don’t possess reliable identification.
During the recent MIT Solve challenge, Fidutam’s founder and executive director, Okezue Bell, explained how Fidutam is designed with a specific focus on the world’s 2.15 billion unbanked individuals, including 1.4 billion adults. Our primary objective is to systematically improve their lives by helping them overcome barriers to traditional banking, with the lack of identification being the most common impediment.
The world as we know it has changed significantly. Our dependence on smartphones and the internet has greatly increased. While these changes have positively impacted the financial world, they have also created a problem that affects over a billion people.
This problem is known as the “Digital Divide”. In this article, we will explore the concept of friendly accessibility and how responsible tech policies can empower underserved populations.
WHAT IS DIGITAL DIVIDE?
In a speech in 2000, President Bill Clinton, the 42nd President of the United States of America described the digital divide as “the new face of inequality…It is no longer just a matter of the haves and the have-nots; it is a matter of the know-hows and the know-nots.” Essentially, the digital divide refers to the gap between the privileged who have access to modern technology, including the internet, and those who do not.
In modern finance, the digital divide refers to the gap between those who have access to modern financial technology like mobile payment apps, cryptocurrencies, digital banks, including the Internet, and those who do not. Regrettably, this gap is not narrowing as quickly as one might anticipate. In 2021, the World Bank’s Global Findex database, which provides insights into global financial inclusion, estimated that over a billion adults worldwide lacked access to modern financial technology.
This digital gap encompasses more than just access to modern financial technology; it also addresses issues related to digital literacy and skills, making it a complex challenge.
Underserved populations, which cover low-income individuals, rural communities, people with disabilities, and minority groups, are often excluded from accessing technology. These barriers can range from financial constraints to inadequate infrastructure and limited digital education opportunities. As a result, underserved populations are frequently left behind.
WHAT IS FRIENDLY ACCESSIBILITY?
Understanding the concept of friendly accessibility is crucial when addressing the gap created by the digital divide. While digital accessibility focuses on creating technology that is easily accessible, friendly digital accessibility goes beyond that. It involves creating a digital environment and services that can be used, accessed, and understood by everyone involved, regardless of their personal background.
THE NEED FOR RESPONSIBLE TECH POLICIES
To bridge the gap between those who have access to modern financial technology and those who do not, while promoting friendly digital accessibility, responsible tech policies must be implemented. These policies should be designed to address the needs of underserved populations and ensure that technological advancements are accessible and beneficial to all.
CHARACTERISTICS OF RESPONSIBLE TECH POLICIES
The following are some of the characteristics of responsible tech policies:
1. Creation of Inclusive Products and Services: Policies should be implemented to ensure that tech companies take into account the diverse needs of users and their varying levels of technological proficiency. Some factors that should be considered when developing digital products and services are language preferences, disabilities, and levels of education.
2. Affordable Internet: To achieve digital inclusion, underserved populations must have access to affordable and reliable internet. Governments should implement policies that enhance internet accessibility for underserved populations. These policies can include subsidizing tech companies to reduce internet costs, providing low-cost data plans, and establishing communication centers near underserved communities.
3. Education Programs: One of the best ways to ensure that underserved populations are fully engaged is by providing them with proper education. Governments should establish policies that guarantee underserved populations receive education on how to use, access, and benefit from modern financial technology.
4. Data Privacy and Security: Privacy and security are essential for people to feel safe when accessing digital products or services. As underserved populations are often vulnerable to data breaches and privacy violations, governments should establish policies that strongly regulate and protect their data.
5. Public Engagement: It is important to have policies relating to the creation of public forums or groups where underserved communities can express their opinions about digital products. Improvements can only be made if the underserved communities are actively engaged to provide feedback regarding their experience with using digital products.
BENEFITS OF FRIENDLY ACCESSIBILITY
The following are the benefits of promoting friendly accessibility through responsible tech policies:
1. Economic Growth: The more people have access to digital technology, the more likely the economy of a country is to grow. Responsible tech policies are crucial to providing underserved populations with opportunities to be a part of the digitally empowered world.
2. Social Inclusion: The main purpose of technology is to make the world a global village. Achieving diversity and technological outreach requires an inclusive society. Responsible tech policies can help facilitate social inclusion by reducing social isolation and encouraging underserved populations to be involved in the fintech world.
3. Education and Literacy: Creating responsible tech policies that ensure friendly accessibility will enhance the level of education and literacy of underserved populations. Such policies will allow students from all backgrounds to pursue education and skill development online, enabling them to become more educated and gain ideas on how to achieve financial security.
4. Civic and Political Engagement: Providing underserved populations with access to information and digital tools can remove the obstacle of social isolation. This will lead to increased involvement in civic and political activities as well as enable them to express their opinions and advocate for their rights.
5. Financial Inclusion: Financial inclusion is another important benefit of responsible tech policies. When underserved people are given access to digital banks and mobile payment systems through good policies, they automatically become a part of the Fintech world, and enjoy the benefits it has to offer.
“Technology should be accessible to everyone. It is our moral duty to ensure that our innovations don’t exclude anyone.” — Tim Cook (CEO of Apple Inc.).
At Fidutam, we believe it is our moral duty to ensure that underserved populations are not left behind in the ongoing technological advancements worldwide. We stand firm on the importance of responsible tech policies in addressing the daily challenges faced by underserved populations.
We are also aiming to ensure financial inclusion for everyone especially vulnerable parts of the population such as A.L.I.C.E (Asset Limited, Income Constrained, Employed).
By prioritizing friendly accessibility, we can empower and enlighten underserved communities, leading to massive economic growth and development, the creation of new businesses, and significant social impact.
Follow Fidutam for more insights on the importance of responsible technology and its effect on the underserved population.
