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Startups Are Behind Modern Growth of Big Banks

Mobile money services that empower individuals to conduct financial transactions without a formal bank account are already yielding positive economic and social returns in frontier and emerging markets. And the revolution is just getting started.


[Some 1.7 billion people and 200 million businesses] worldwide still lack access to savings and credit services at formal institutions. As governments, entrepreneurs and private investors work to realize the [World Bank’s goal] of universal financial access by 2020, new opportunities are surfacing to service a rising class of newly-banked consumers.

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