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A new technological advancement is digital financial technology also known as FinTech. The most notable promotion for FinTech usage is seen in the developing world. Financial Inclusion is among the top priorities within the development world. The Global Financial Inclusion Database launched by the World Bank, which “provides comparable indicators showing how people around the world save, borrow, make payments, and manage risk,” estimates approximately 2 billion adults do not have access to a bank transaction account. The World Bank established the Universal Financial Access initiative working towards reaching this population obtaining a transaction account or an electronic service by 2020. Public-private partnerships with FinTech organizations to address the financial inclusion in developing regions of the world are growing, however, not entirely without its challenges. Navigating policy regulations in developing countries can hinder FinTech growth.
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