The rapid acceleration of fintech industry in the past years, especially caused by the pandemics, has influenced lifes of many people worldwide – also when it comes to the financial aspects. But there are still areas where the levels of financial inclusion and financial literacy are low.
There’re several reasons why it is important to improve these levels since on the one hand, financial literacy and financial inclusion touch on the very basic, core needs of individuals, and on the other hand - it has a huge impact in the large scale, on economies of the countries and their growth.
Research by EY presented that financial inclusion could improve GDP by up to 14% in more rural, developing economies like India and 30% in frontier markets like Kenya. Such increase would make a huge difference in terms of the economic growth.
My guest is Nina Mohanty who is passionate about FinTech and how it can better financial inclusion and financial literacy.