Even in the face of the economic hardships that came with COVID-19, America’s unbanked dropped to around 4% last year. That’s according to the Federal Deposit Insurance Corporation’s (FDIC) 2021 National Survey of Unbanked and Underbanked Households, released Tuesday (Oct. 25). It found that about...
Digital identity company Prove Identity has joined forces with Experian in a partnership designed to use identity verification tools to promote financial inclusion. According to a Tuesday (Oct. 25) news release, the collaboration aims to help companies offer financial services to more customers, including underbanked people...
Consumer finance company CreditCare Technology has teamed up with MoneyGram to expand further into the emerging markets of the Philippines, Vietnam and Nigeria. Based in San Francisco, CreditCare provides financial products to unbanked people, including personal loans and remittances. “The partnership with MoneyGram is a...
Citigroup will be launching two pilot programs under the Office of the Comptroller of the Currency’s Project REACh, or Roundtable for Economic Access and Change, to help underserved communities get more access to credit. One of the programs will get credit cards to those without...
A new card for people who are blind or partially sighted is now available in the United Arab Emirates (UAE) through a new initiative between Ajman Bank and Mastercard. The “world-first” Touch Card is an accessible payment card that allows blind and partially sighted people...
PayPal has joined the White House’s new Economic Opportunity Coalition (EOC) to address economic disparities and move things forward for various underserved communities, the company said in a press release Thursday (July 28). The coalition will include 21 corporations and three foundations, working on aligning...
Financial exclusion is a broad category that can range from an inability to access banking services to cultural, economic, and infrastructural barriers to the adoption of electronic payment methods. A good measure of how countries compare in terms of their relative financial inclusion is the...
Innovative Payment Solutions, Inc. (IPSI) has teamed with Mario Lopez, a TV personality who has appeared on “Access Hollywood” and “Saved by the Bell,” to boost awareness of products involving remittances to Mexico, the company announced Monday (July 11). The FinTech provides digital payment solutions...
When it comes to tackling poverty and improving the quality of life of the world’s poor and excluded communities, the concept of financial inclusion has been used by governments, nongovernmental organizations (NGOs) and businesses as an index of people’s ability to access banking services and...
