New Data Show Global Surge In People With Financial Accounts

WASHINGTON—More than 69% of adults – or 3.8 billion people – around the world now have an account at a bank or with a mobile money provider, new data show.

Global Banking

The findings were released as part of the World Bank's 2017 Global Findex microdata, which provides insights into how consumers are using bank accounts, mobile money, digital payments, savings and credit. The data is collected by the Gallup organization.

“In April, the World Bank published its country-level data and released its report on financial inclusion indicators that are based on data from nationally representative surveys that Gallup, with the support of the World Bank team, collected in more than 140 economies in 2017. The release of the microdata opens up the individual survey responses from roughly 150,000 adults in these economies,” reported Gallup.

The Findings

Among the study’s findings:

  • 1.2 billion adults worldwide have opened an account since Gallup and the World Bank started tracking these data in 2011, including 515 million in the past three years
  • 1.7 billion adults do not have a bank account. But more than one-billion of these unbanked adults have a mobile phone, which potentially offers convenient access to financial services
  • The gap between men and women in account ownership is just as wide in 2017 as it was when it was first measured
  • Having access to the Internet as well as a mobile phone puts a wider range of financial services within reach, Gallup said.
Section: Standard
Word Count: 322
Copyright Holder: CUToday.info
Copyright Year: 2019
Is Based On:
URL: https://www.cutoday.info/Fresh-Today/New-Data-Show-Global-Surge-In-People-With-Financial-Accounts