FIN TECH FOR THE UNBANKED: BRIDGING THE FINANCIAL DIVIDE THROUGH MOBILE PLATFORMS

Abstract

The rapid advancement of financial technology (FinTech) has emerged as a transformative force in promoting financial inclusion, particularly among the world’s unbanked populations. Despite decades of global efforts, nearly 1.4 billion adults remain without access to formal financial services, limiting their capacity to save, invest, and participate in the formal economy. Traditional banking systems often fail to reach these groups due to infrastructural limitations, high service costs, complex documentation requirements, and socio-economic barriers. Against this backdrop, mobile platforms—ranging from simple mobile money applications to sophisticated digital wallets and microfinance apps—have become powerful tools for bridging the financial divide. This research explores how mobile-based FinTech solutions empower the unbanked by providing accessible, affordable, and secure financial services in regions previously beyond the reach of traditional banking.