Singer, DorotheDemirguc-Kunt, AsliVan Oudheusden, PeterKlapper, Leora2015-05-072015-05-072015-04https://hdl.handle.net/10986/21865The Global Financial Inclusion (Global Findex) database, launched by the World Bank in 2011, provides comparable indicators showing how people around the world save, borrow, make payments, and manage risk. The 2014 edition of the database reveals that 62 percent of adults worldwide have an account at a bank or another type of financial institution or with a mobile money provider. Between 2011 and 2014, 700 million adults became account holders while the number of those without an account—the unbanked—dropped by 20 percent to 2 billion. What drove this increase in account ownership? A growth in account penetration of 13 percentage points in developing economies and innovations in technology—particularly mobile money, which is helping to rapidly expand access to financial services in Sub-Saharan Africa. Along with these gains, the data also show that big opportunities remain to increase financial inclusion, especially among women and poor people. Governments and the private sector can play a pivotal role by shifting the payment of wages and government transfers from cash into accounts. There are also large opportunities to spur greater use of accounts, allowing those who already have one to benefit more fully from financial inclusion. In developing economies 1.3 billion adults with an account pay utility bills in cash, and more than half a billion pay school fees in cash. Digitizing payments like these would enable account holders to make the payments in a way that is easier, more affordable, and more secure.en-USCC BY 3.0 IGOEMPOWERMENTFINANCIAL SERVICESECONOMIC GROWTHENTERPRISE DEVELOPMENTDEPOSITSRISK OF FRAUDMONEY LAUNDERINGMERCHANTSFINANCINGACCOUNT OWNERSHIPFINANCIAL ASSISTANCELOANS FROM FAMILYSAVINGS ACCOUNTSREMITTANCEAVAILABILITY OF CREDITBANKING SERVICESENTREPRENEURSDISCRIMINATIONLOAN SHARKCOOPMONEY TRANSFERLOANFEEBORROWERSSAVINGS PRODUCTCREDIT CARDHOUSEHOLD ACCESSPAYMENTSBANKRUPTCYPAYMENTS INFRASTRUCTUREPRIVATE LENDERRURAL BANKSEXPATRIATESECONOMIC ACTIVITYAFFORDABLE PRICESGENDER GAPACCESS TO ACCOUNTSDISCRIMINATION AGAINST WOMENHOUSING FINANCEFINANCIAL INSTITUTIONCOMMERCIAL BANKFINANCIAL SERVICE PROVIDERPHONE PENETRATIONFINANCIAL INSTITUTIONSPAYMENTDEBTSOURCE OF FUNDSMICRO- ENTERPRISEFARMERSELECTRONIC PAYMENTSPOOR CREDITTERM CREDITBANKSFORMAL FINANCIAL INSTITUTIONSAVINGS RATESAFFORDABILITYCAPITALINSTALLMENTLACK OF ACCESSOVERDRAFTBANK FAILURESACCESS TO FINANCEFINANCIAL EXCLUSIONCASH PAYMENTSGENDERPRIVATE LENDERSBANKSMALLHOLDERHOUSEHOLDFINANCIAL ACCOUNTFINANCIAL SERVICE PROVIDERSSMALLHOLDER FARMERSCASH MANAGEMENTSAVINGS PRODUCTSINFORMAL LENDERPAYMENT OF WAGESSECURITIESMICROFINANCEECONOMIC DEVELOPMENTEMPLOYERHOUSEHOLDSACCESS TO SERVICESFINANCIAL SUPPORTGREATER ACCESSPOINT-OF-SALE TERMINALSFEESREMITTANCESACCOUNT HOLDERPOINT-OF-SALEHOUSEHOLD DEBTCOOPERATIVEDEVELOPMENT BANKACCOUNT HOLDERSINCOME GROUPSEMPLOYEESMICROFINANCE INSTITUTIONBUSINESS OWNERSDEPOSITELECTRONIC TRANSFERSCREDIT CARDSATM CARDSPEOPLEOUTSTANDING LOANFORMAL SAVINGPROPERTY RIGHTSINCOME GROUPBANK ACCOUNTEXCLUSIONMORTGAGEDIRECT DEPOSITSUBSIDYSAVINGCULTURAL NORMSINTERNATIONAL BANKCASH WITHDRAWALSLENDERPAWN SHOPSACCESS TO FINANCIAL SERVICESANTI-MONEY LAUNDERINGBENEFIT PAYMENTSMORTGAGESSAVINGSSOURCE OF CREDITECONOMIC CRISESUNIONHOUSEHOLD INCOMEINFORMAL SAVINGFINANCIAL PRODUCTSLENDERSSOCIAL SECURITYLOANSFINANCIAL SYSTEMINFORMAL LOANSREGULAR PAYMENTSDEBIT CARDSREAL ESTATEFINANCEPAWNFIRST ACCOUNTGOVERNMENT SECURITIESUNEMPLOYMENTEQUITYCREDIT DECISIONSPAYDAY LENDERECONOMIC DIFFICULTIESBANKING CRISISFAMILYCREDIT ACCESSSAVINGS RATECREDITFORMAL FINANCIAL SERVICESSAVINGS MECHANISMDOCUMENTATION REQUIREMENTSEMPLOYMENT STATUSELECTRONIC DEPOSITSEXCLUSIONSENTERPRISEINFORMAL SAVINGSPROPERTYFINANCIAL ACCESSVOUCHERSTRANSACTION COSTSFINANCIAL SERVICECREDIT UNIONBANK ACCOUNTSFORMAL SAVINGSACCESS TO CREDITAGRICULTURAL PRODUCTSPAWN SHOPCREDIT ASSOCIATIONSOCIAL BANKINGFINANCIAL DEVELOPMENTSECURITYBANK BRANCHINVESTMENTCOLLATERALFINANCIAL MARKETSMICRO- ENTERPRISE DEVELOPMENTREGULAR PAYMENTBORROWINGINVESTMENTSINFORMAL LENDERSDEBIT CARDACCOUNT OWNERSCASH DEPOSITSWOMENPUBLIC BANKSBANKING CRISESBANK BRANCHESFORMAL CREDITMORTGAGE MARKETGUARANTEEMEDICAL EXPENSESINEQUALITYWorking PaperWorld Bank10.1596/1813-9450-7255