Remove 2022 Remove Financial Literacy Remove Underserved
article thumbnail

Toward financial inclusion: Shaping a national strategy for the UK

The Payments Association

The Governments decision to develop the Strategy reflects the growing number of financially vulnerable consumers in the UK. million people now live in financially vulnerable circumstances across the UK, up 16% from 17.5 million in 2022. million (28%) were struggling financially or finding it difficult to cope.

article thumbnail

Fintech is Failing at Financial Inclusion for Women

Fintech News

It draws on a survey of 114 fintech firms across 17 countries, as well as interviews with leaders from 25 fintech firms, conducted between November 2022 and February 2023. According to the report, digital financial services carry significant potential to advance women’s financial inclusion.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

More Than Half the Fintech Industry Seeing Growth from Strong Consumer Demand

Fintech News

billion in 2022, plus a further plunge to US$39 billion in 2023, as per CB Insights — has seen fintechs in certain regions noting the poor funding outlook as a hindrance to better growth. The commitment to financial inclusion remains a cornerstone of the fintech value proposition. billion in 2021 to US$77.5

FinTech 143
article thumbnail

Wealthtech and Investing in the Middle East and Africa 2024

The Fintech Times

Recent times have been challenging for many, including the ultra-wealthy, who collectively saw a decline of $10trillion, or 10 per cent, in their net worth in 2022 due to global economic uncertainties such as the energy crisis and the Ukraine War. See the chart below for the top ten richest individuals for reference.

article thumbnail

SFF 2024 Awards Highlights Fintech Innovation with Updated Categories, New AI Focus

Fintech News

The APIs has not only helped platform partners unlock new revenue opportunities, more importantly, it has allowed ANEXT Bank to engage and enable the ecosystem of partners to accelerate and scale financial inclusion for unserved and underserved MSMEs.

AI 108
article thumbnail

Indonesia Hosts Second Highest Number of Fintech Unicorns in Southeast Asia

Fintech News

Founded in 2016, Akulaku provides digital banking, financing, investment and insurance brokerage services, targeting financial underserved demographics. The startup’s last round was a US$200 million investment from Japanese megabank Mitsubishi UFJ Financial Group announced in December 2022. billion to US$15 billion.

FinTech 52
article thumbnail

Fintech in Singapore: 2023 in Review

Fintech News

Project Guardian, led by MAS and industry partners, focuses on testing the feasibility of applications in asset tokenization and decentralized finance (DeFi) while managing risks to financial stability and integrity. The program components include financial literacy and capacity building, access to financing, and expanded trade opportunities.

FinTech 109