How FinTech Empowers the Underbanked

May 13, 2017 / GuidesFor Team

GovTech says that the value of FinTech will soar to $150 billion in the next three to five years. That’s because it’s tapping into a market that hasn’t been addressed by traditional banking: the underbanked. The underbanked are small businesses or individuals who fail to get the important loans they need for business either because of the red tape or the slow process. FinTech cuts through the obstacles and gives these parties the funds they need to survive and thrive. The following article shows how it is transforming a nation that is as economically challenged as Kenya. A lot of the lessons learned here can be applied to the US as well. Read on for more. – Cora Llamas.

Read the source article at imf.org

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