1.1 billion people gained access to bank accounts from 2014 to 2021, but 1.4 billion remain unbanked.
Digital financial inclusion is a critical enabler for poverty reduction and inclusive growth. Access to transaction accounts enabled by ICTs opens pathways to broader financial inclusion, where people and companies can make financial transactions more efficiently and safely, access funds (e.g., payments, credit, and savings), make investments, and cope with economic shocks.
The COVID-19 pandemic has also amplified the urgency for digital financial services (DFS) to help reach underserved and vulnerable populations. An ITU webinar series in 2020, recorded and archived on the ITU website
, shared insights from various governments and other DFS stakeholders in this regard.
ITU offers platforms to study cybersecurity challenges for digital finance, as well innovations and regulatory challenges brought about by fintech, digital currencies, blockchain, and artificial intelligence.