Published on 13 Feb 2016, by Professor David LEE Kuo Chuen and Christopher Dula. The original article can be found on [The Straits Times].
Inclusivity is the next growth frontier in banking and finance. But by ignoring those neglected by the financial system, banks left room for tech companies to make financial inclusion a viable business model. They’ve since innovated alternative, more efficient systems to provide banking and financial services at scale to the unbanked. Starting with payments, they have moved into financial services like savings, loans, micro insurance and investments.Quote from the article