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05. Financial Innovation and Inclusion

2022-04-25
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이 카테고리는 경영학부 전자금융의 이해 수업을 듣고 정리한 내용을 바탕으로 글을 작성하였습니다.

Financial Innovation and Inclusion

  • Financial inclusion - the availability and equality of opportunities to access financial services

  • Financial inclusion 관련 사례 - M-Pesa (Kenya), bKash (Bangladesh)

  • M-Pesa (모바일 폰 자금이체서비스) → (M-pesa의 특징과 Kenya’s의 영향)

  • 요약) 은행 서비스 없이 예금, 송금, 출금을 할 수 있도록 서비스를 제공하였다 ⇒ 현금의 필요성이 줄어들었다.

    • a mobile phone-based money transfer service, payments and micro financing service, launched in 2007 by Vodafone and Safaricom

    • It allows users to “deposit, send, and withdraw funds using their mobile phones” without the need for a bank account.

    • At least 40% of Kenya’s GDP is transmitted via M-Pesa (2019).

    • The advent of ubiquitous digital payments has dramatically reduced the need for Kenyans to use cash to conduct day-to-day transactions.

      • It enables residents in cities to cheaply send money back home to rural areas, saving them the risk of cash getting lost in transit.
    • MIT study shows that M-Pesa is responsible for lifting 2% of Kenyan households out of poverty (2016).

  • bKash (Bangladesh)

    • mobile money service launched in 2011 that now serves more than 24 million individuals (2018)

    • Users can deposit money into their mobile accounts and then access a range of services.

      • transferring and receiving money domestically, making payments.

Fintech as a Driver of Financial Inclusion

Reductions in the cost of cross-border transfers have also had an important impact on inclusion.

  • Remittance payments in emerging economies frequently face high fees, particularly to destinations in Africa.

  • WorldRemit and Azimo

    • It reduces cross-border remittance costs in developing regions. ⇒ 국가간 송금 서비스를 나누고 용이하게 함으로써, 개발도상국에 대해서 금융서비스의 기회를 확대하였다.

Reference

  • The Future of Finance

    • The Impact of Fintech, AI, and Crypto on Financial Services, Henry Arslanian and Fabrice Fischer, 2019, Springer

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