Who Are The Underbanked?

Banking for the underbanked is one of the biggest motives behind Bluzelle and many of the fintech companies and protocols being developed. Ripple Labs’ slogan on their website is “Ripple Allows Everyone to Participate in The Global Economy”.

As the saying goes, a picture is worth a thousand words. And instead of throwing the word “underbanked” around, it helps to see the people who will benefit from the new technologies for finance. Below are the winning pictures in a photo contest done by CGAP to raise awareness about the importance of increased access to financial services.

A cormorant fisherman in Soh Yew Kiat, China.

Gramophone repairman in Bulent Suberk, Turkey.

A smallholder farmer in Tanzania who receives financing and training through the social enterprise One Acre Fund.

A dozen young men on the coast of Togo who work together to pull in large fishing nets.

Women in India showing the influence of micro-finance on female empowerment.

As we covered in a prior post, understanding the ground level influence systems like M-Pesa and emerging fintech services have is important in guiding new companies to be more than just a business.

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