FOREWORD
“ IN SOME PARTS
OF THE WORLD , PEOPLE ARE MORE LIKELY
TO HAVE A SMARTPHONE THAN A BANK
ACCOUNT ”
FINTECH MAGAZINE IS PUBLISHED BY
BUILDING A BETTER WORLD THROUGH FINTECH
For people who work inside the financial services industry , it can be easy to forget on a day-today basis what we ’ re building towards . Hopefully , in most cases , that should be greater financial inclusion and equity
By 2030 , it ’ s estimated that the top 1 % of wealthiest people will own two-thirds of the world ’ s wealth while the bottom 50 % will have just 2 %. That leaves almost 50 underdeveloped economies facing “ serious impediments ” to their economic progress , according to the United Nations .
Despite our best intentions , financial inclusion is still a huge issue for the global financial system . In this issue of FinTech Magazine , we take a look at underbanked populations and ask what can be done to improve the fortunes of people in developing countries . We take stock of the progress financial technology has made in bettering their lives , and whether it has empowered traditionally underserved communities .
We also reflect on some of the core innovations that are driving our industry forward , from open banking and blockchain to the emergence of biometrics . We hope you enjoy the content in this month ’ s issue !
ALEX CLERE alex . clere @ bizclikmedia . com © 2023 | ALL RIGHTS RESERVED fintechmagazine . com 7