EXPLAINER

Busting the 10 Myths on Financial Inclusion

Myth No. 8

People living in rural or remote areas where there is no access to ATMs or banks cannot be financially included.

Fact

With innovations in digital financial services, service providers can offer basic services through mobile phones, point-of-sale devices and agent networks, removing the need for bank branches and ATM access.

E-commerce businesses, in partnership with banks, are also driving financial inclusion in new ways. Examples include Alibaba.com in the People's Republic of China, and Southeast Asian-based company, Lazada.com.





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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