How does technology facilitate financial inclusivity for underbanked populations? 🔊
Technology facilitates financial inclusivity for underbanked populations by providing access to financial services through digital platforms. Mobile banking applications and microfinance solutions enable individuals without traditional bank accounts to manage finances, make transactions, and secure loans. Digital wallets and cryptocurrency platforms also offer alternatives for savings and investments, breaking down barriers previously faced by underserved communities. By leveraging technology, these financial tools promote economic empowerment and foster participation in the formal economy.
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