Banking On the Unbanked In a Digital Era
The Global Findex database provides more than 200 indicators on topics such as account ownership, payments, saving, credit and financial resilience. The Global Findex database shows that 515 million adults worldwide opened an account at a financial institution or through a mobile money provider between 2014 and 2017. This means that 69 percent of adults now have an account, up from 62 percent in 2014 and 51 percent in 2011. It is evident that even as account ownership continues to grow, inequalities persist. There is a gendered component to account ownership and perhaps this has to do with the institution of patriarchy which is more pervasive in some societies where women continue to be voiceless and have very little rights outside the domestic sphere. Data shows that 72 percent of men have an account compared to 65 percent of women. That gender gap of 7 percentage points was also present in 2014 and 2011. In developing economies the gender gap remains unchanged at 9 percentage...