In an article on the Shift Media, a premier Australian publication, Nathan Smale, Principal Consultant of Emfarsis discussed efforts by different entities to digitilise the unbanked. You can read the full article here: Digitalising the unbanked.
The Asian Development Bank has declared emerging digital technologies as the greatest opportunity to bring about financial inclusion across the developing world.
The comments came at the 3rd Asia Finance Forum from ADB’s Vice President of Knowledge Management and Sustainable Development, Bambang Susantono – who listed distributed ledger technology, regulatory sandboxes and digital ID as pivotal tools in the quest to bank the unbanked.
The 3rd Asia Finance Forum: The Future of Inclusive Finance in Manila has explored how the 1.7 billion people living outside the formal banking and financial system, can be empowered through technologies, such as artificial intelligence, big data, blockchain, mobile payments and digital banking.
Bambang Susantono, a former Indonesian Deputy Minister for Infrastructure and Regional Development, has been an advocate for digital technologies potential to empower the financially disenfranchised.
ADBs Regional Director, Lotte Schou-Zibell, said the forum enables key players across the development and private sectors to explore innovative projects to tackle the access-to-finance gap.