Alternative credit providers in Growth Markets are ‘breaking the bank’, by separating the ‘funding’, ‘manufacturing’ and ‘distribution’ portions of the credit value chain.
Progressive financial inclusion together with favourable macro-economic and demographic conditions is resulting in real impact economics, opening the door to effective sustainable growth.
The Financial Services Cambrian Explosion: How Growth Markets are innovating for the next 2 billion customers
An estimated 2 billion adults worldwide do not have a basic bank account. Globally, 59% of adults without an account cite lack of enough money as a key reason, implying that Financial Services are not yet affordable or designed to fit low income users.
We believe that Financial Services in Growth Markets have the potential to take a radically different path than what we have experienced in developed markets.
The research project shows that domestic payment schemes have the potential to take a major and potentially larger portion of global retail payments volume vis-a-vis the international payment schemes.