How does technology promote financial inclusivity for marginalized groups? 🔊
Technology promotes financial inclusivity for marginalized groups by enhancing access to banking services, financial education, and credit. Mobile banking and fintech platforms allow individuals without traditional bank accounts to conduct transactions, receive payments, and build savings. Moreover, digital platforms offer educational resources, enabling users to improve their financial literacy. Blockchain technology facilitates transparent peer-to-peer lending, expanding access to credit. By addressing systemic barriers, technology fosters economic empowerment and allows marginalized communities to participate fully in the financial system.
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