An estimated two billion people worldwide do not use formal financial services. 73% of poor people are unbanked because of costs related to setting up services, travel distances and the often burdensome requirements involved in opening a bank account.*
By enabling individuals with mobile technology, making it easier to access and use financial services, Telenor contributes to reducing this number day by day.
Research shows that access to financial services can have important benefits beyond simply increasing one’s amount of savings or interacting with family members or business partners. It can help empower women, increase productive investment and consumption, raise productivity and income and increase expenditures on preventive health.*
Telenor is a strong advocate of financial inclusion. We’re committed to the World Bank’s agenda for universal financial access, UFA 2020, and we are generating numerous initiatives in our markets to improve lives through connecting individuals to our financial services.
*Source: The World Bank Group