By 2020, one billion adults currently excluded from traditional financial systems will gain access to some form of banking services.
“Financial access facilitates day-to-day living, and helps families and businesses plan for everything from long-term goals to unexpected emergencies,” the World Bank wrote in a recently published brief.
“As accountholders, people are more likely to use other financial services, such as credit and insurance, start and expand businesses, invest in education or health, manage risk and weather financial shocks, all of which can improve the overall quality of their lives.”
Achieving universal financial access requires a multi-pronged strategy.
Founded by CEO Richard Eldridge and Chairman Jeffrey Stewart in 2011, Lenddo operates on the premise that non-traditional data can be used to vet potential borrowers and provide financing to underserved consumers.
The value of non-traditional data