{"id":11021,"date":"2018-09-24T08:13:15","date_gmt":"2018-09-24T08:13:15","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=11021"},"modified":"2018-09-24T08:13:15","modified_gmt":"2018-09-24T08:13:15","slug":"how-fintech-is-helping-the-unbanked-and-underbanked","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/how-fintech-is-helping-the-unbanked-and-underbanked\/","title":{"rendered":"How FinTech is helping the unbanked and underbanked"},"content":{"rendered":"<p>For many around the world (especially those in rural areas), access to financial services represents a major problem; however, FinTech is bridging that gap and helping more and more consumers access them. Here a few ways FinTech is helping the unbanked and underbanked access financial services in 2018:<\/p>\n<ul>\n<li><strong>Online lending<\/strong> \u2013 online lending has enabled almost anyone with an internet connection the ability to access financial services. Moreover, FinTech\u2019s innovative approaches to decision-making also allows those with little or no credit histories to demonstrate their creditworthiness through other factors such as income, employment stability, bank account history and length of residence.<\/li>\n<li><strong>Online banking<\/strong> \u2013 beyond just lending, online and mobile banking offer consumers the ability to remotely access a full range of banking services previously only available at branch locations.<\/li>\n<li><strong>Business banking integration<\/strong> \u2013 much as with individual consumers, FinTech has also allowed remote businesses the opportunity to easily access financial services through apps and the internet. Furthermore, FinTech also allows businesses to streamline their accounting and financial operations and even remotely apply for small business loans.<\/li>\n<\/ul>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-11021 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Biometric eKYC solutions on the rise throughout the Asia-Pacific'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/biometric-ekyc-solutions-on-the-rise-throughout-the-asia-pacific\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2020\/02\/biometric-ekyc-solutions-on-the-rise-throughout-the-asia-pacific-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14540\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14540'>\n\t\t\t\tBiometric eKYC solutions on the rise throughout the Asia-Pacific\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Key security questions in an open banking ecosystem'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/key-security-questions-in-an-open-banking-ecosystem\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/06\/key-security-questions-in-an-open-banking-ecosystem-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13059\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13059'>\n\t\t\t\tKey security questions in an open banking ecosystem\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='73% of British SMEs don\u2019t understand what open banking is'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/73-of-british-smes-don-t-understand-what-open-banking-is\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/06\/73-of-british-smes-don-t-understand-what-open-banking-is-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-13047\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-13047'>\n\t\t\t\t73% of British SMEs don\u2019t understand what open banking is\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>For many around the world (especially those in rural areas), access to financial services represents a major problem; however, FinTech is bridging that gap and helping more and more consumers access them. Here a few ways FinTech is helping the unbanked and underbanked access financial services in 2018: Online lending \u2013 online lending has enabled &hellip;<\/p>\n","protected":false},"author":5,"featured_media":11040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[196,77,35,129,287],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/11021"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=11021"}],"version-history":[{"count":4,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/11021\/revisions"}],"predecessor-version":[{"id":11041,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/11021\/revisions\/11041"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/11040"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=11021"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=11021"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=11021"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}