The term unbanked is a general term referring to people without normal access to banking – they use cash, money orders, and prepaid debit cards.

These people are at considerable disadvantage as they cannot easily build credit histories, access lending, or engage in advanced financial transactions very easily.

Banking services, and more widely available financial services provide liquidity, fast transactions, and the ability to grow rapidly.

It is widely held that financial inclusion will be solved as more DLTs, blockchains, digital currencies are made available. 

The reason is that access to financial services will be available at a far more granular level. As wallets and digital services grow, combined with the elevated role of the Internet (internet access and mobile devices), then the unbanked will get access to financial services easily and within minutes or even seconds.

In poorer regions, ATMs are not viable and maintaining cash services is costly. To reduce these solutions to digital solutions will enable growth and allow the unbanked to access financial services.


“A slight majority of unbanked adults are either employed or seeking work. Yet
compared with other adults, those who are unbanked are more likely to be out
of the labour force.”