EXPLAINER

Busting the 10 Myths on Financial Inclusion

Myth No. 6

Digital technology is the “cure-all” solution for bringing financial services to people and business more conveniently and faster than in the past.

Fact

Technology is only good when people use it because it solves a specific problem for them. To reach the base of the pyramid—the last mile—financial service providers must first address the two barriers: Identity verification (demand side), and accessing financial services (supply side).





Disclaimer

The views expressed in these articles are those of the authors and do not necessarily reflect the views of the Asian Development Bank, its management, its Board of Directors, or its members.




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