New financial technologies (FinTech) are increasingly transforming our way of exchanging, raising, and investing capital. The penetration of mobile services, digitization, and automation have enabled the financial services sector to expand access to hitherto unserved/underserved populations, particularly low-income populations in rural areas and developing countries. In this session, we will review current FinTech initiatives that facilitate financial inclusion, and more importantly discuss whether FinTech-driven financial inclusion is a good business idea for service providers and financial institutions. We will discuss potential revenue models, business practices, and the impact on both social welfare and profitability.
Speaker: Andrew Wu