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posted on 03 September 2017

Infographic Of The Day: Banking The Unbanked

Most of the world's unbanked population lives in highly rural, undeveloped areas such as sub-Saharan Africa and Central Asia. In countries in these regions, such as Turkmenistan (where only 1.8% have bank accounts) or Niger (3.5% have accounts), banking is largely unknown to the masses.

But is an unbanked country like Turkmenistan where the opportunity lies? Not really, because it only has five million people, close to 60% unemployment, and a particularly repressive regime. It’s a lot of risk to take on for an extremely low payoff.

However, emerging economies in the Asia-Pacific and Latin America/Caribbean seem like a much safer potential bet for would-be providers. While smaller proportions of their populations lack access to basic financial services, their higher overall populations and income levels make them a more feasible choice.

In the Asia-Pacific, the World Bank sees increased banking penetration as a $79 billion opportunity for personal banking of individuals with under $8k in annual income. Likewise, it sees a $95 billion opportunity in micro and small business banking in the region.

For Latin America and the Caribbean, the opportunity is similar: $34 billion for personal banking (less than $8k income) and $81 billion for micro and small banking business.

[click here to enlarge infographic]

Source: http://www.visualcapitalist.com/banking-unbanked-emerging-markets/

Click here for Historical Infographic Post Listing



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