Digital Finance for All: Powering Inclusive Growth in Emerging Economies
- James Manyika, Susan Lund, Marc Singer, Olivia White, Chris Berry
- Sep 2016
- McKinsey Global Institute
- International
Two billion individuals and 200 million businesses in emerging economies today lack access to savings and credit, and even those with access can pay dearly for a limited range of products. Rapidly spreading digital technologies now offer an opportunity to provide financial services at much lower cost, and therefore profitably, boosting financial inclusion and enabling large productivity gains across the economy. While the benefits of digital finance—financial services delivered via mobile phones, the internet or cards—have been widely noted, in this report we seek to quantify just how large the economic impact could be.
