In the lead up to the World Economic Forum on East Asia 2014, MasterCard today announced the findings of the “Road to Inclusion”, a new Insights Report that profiles the financially excluded and underserved in the Asia/Pacific, Middle East and Africa (APMEA) region. View the full press release and download the report.
Currently, roughly half of the world’s adult population lack access to formal financial services. The report, of which a first edition on Europe was launched in September 2013, looks at these two target groups in six culturally diverse markets across APMEA – India, Indonesia, Vietnam, Philippines, Egypt, and Nigeria. It uncovers their reasons for not being part of their market’s financial system and provides a better understanding of how they could be brought into the economic mainstream.
Commenting on the findings, Matthew Driver, President of MasterCard Southeast Asia, said, “Understanding the needs and attitudes of these consumers has provided us with important insights. For example, the financially excluded or underserved in urban centres are reasonably well educated and largely employed, so inclusion efforts in cities should be primarily focused on building more relevant, lower cost products and services rather than basic financial literacy. This means that with the right approach there is huge immediate potential in such environments to bring many people into the financial system.”
For all the information related to the Road to Inclusion Report for APMEA, please visit our digital press kit.