Developing countries turn to mobile banking

For this project I wanted to tell a banking-related story, so I relied heavily upon the World Bank’s Global Financial Inclusion database. After interviewing the data, and reading a couple of articles about financial inclusion I decided to focus on how people in the developing world are slowly starting to use mobile phones to access banking. It’s a complicated and fascinating story with many potential angles. I told the story from the peoples’ viewpoint.

Because I wanted to focus on the human aspect I opened the infographic with three stories about why using cash for all transaction can be risky, and how electronic banking has helped to resolve those problems. Adoption of mobile banking is gradual for many reasons but I thought it was interesting to see what people are using mobile banking for. I also tried to resolve the story with the last number: 2030—the year by which 2 billion unbanked people are projected to use their phones to store money & make payments.

References

Popper, B., & B. G. (2015, February 04). Bill Gates on The Verge: Can mobile banking revolutionize the lives of the poor? Retrieved March 20, 2016, from http://www.theverge.com/2015/2/4/7966043/bill-gates-future-of-banking-and-mobile-money

A phoneful of dollars. (2014, November 15). Retrieved March 20, 2016, from http://www.economist.com/news/briefing/21632441-worlds-poor-need-stability-and-security-banks-have-traditionally-offered.