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By Casey Hynes
By 2020, one billion adults currently excluded from traditional financial systems will gain access to some form of banking services. At least, that’s the goal toward which the World Bank is working.
“Financial access facilitates day-to-day living, and helps families and businesses plan for everything from long-term goals to unexpected emergencies,” the World Bank wrote in a recently published brief. “As accountholders, people are more likely to use other financial services, such as credit and insurance, start and expand businesses, invest in education or health, manage risk and weather financial shocks, all of which can improve the overall quality of their lives.”