WASHINGTON, April 19, 2018: Financial integration is increasing worldwide, as it has accelerated through mobile phones and the Internet, but profits have been mixed in all countries. A new World Bank report on the use of financial services found that men had more women than men.
Globally, 69 percent of adults, 3800 million people, now have an account with a bank or mobile service provider, a crucial step to escape poverty. This represents an increase of 62 per cent in 2014 and only 51 per cent in 2011. From 2014 to 2017, 515 million adults have been paid, and 1.2 billion since 2011, according to the global database Findex. While account ownership has increased in some economies, progress has been slower elsewhere and is often hampered by the large disparity between men and women and between rich and poor. The gap between men and women in developing economies has remained unchanged since 2011, by 9 percentage points.
GlobalFindex, a comprehensive data collection on how people use 144 economies of financial services, was produced by the World Bank with funding from the Bill & Melinda Gates Foundation and in collaboration with Gallup, Inc.
"In recent years, we have seen significant progress around the world to connect people with formal financial services," said World Bank Group President Jim Young Kim. "Financial integration allows people to save for the needs of the family, borrow to support business or create protection against any emergency." Access to financial services is an important step towards reducing poverty and inequality. New data on mobile ownership and access to the Internet offers unprecedented opportunities to use Technology to achieve global financial inclusion. "Web Money Card Works Around The World (america, Asia, Africa, India, And Middle East)
