Over the course of the past ten years, the financial services industry has experienced a series of profound shocks that have impacted how the industry is regulated and managed. With the rise of the mobile phone, the opportunity to develop alternatives to the traditional banking model has never been greater.
When looking at Davos, it’s important to remember something that’s often forgotten in the digital and particularly the mobile worlds – that our industry operates in a wider socio-economic and political context.
Two billion adults remain without access to basic banking and financial services. Even though numbers have been falling of late, according to the World Bank, these numbers represent both a massive global humanitarian challenge.