BRUSSELS, 29 November 2018
The following is a quote from H.M. Queen Máxima of the Netherlands, United Nations Secretary-General’s Special Advocate for Inclusive Finance for Development for the November 2018 WSBI 25th World Congress of Savings and Retail Banks.
"Earlier this year, we celebrated the release of Global Findex data showing that more than half a billion people have gained access to formal financial services since 2014. With 1.7 billion adults still unbanked, however, much work remains to be done. The banking sector has a vital role to play in reaching underserved populations with affordable, easy-to-use financial products that meet their needs. Therefore, I’m very grateful to WSBI and its member banks for working to bring more people—particularly women, farmers, small business owners, and the poor—into the formal financial system. Reaching these populations is not only life-changing for them, but it can also make good business sense for financial service providers.
"Financial technology offers great opportunities for banks to reach these untapped markets at lower cost. Innovative digital financial services can enable many people to save and borrow for the first time. However, we all need to balance the tremendous potential of these products with regulations that protect customers. I’m very pleased to see that WSBI is driving the discussion about these issues.
"While I am unable to join you for the WSBI World Congress, I send my best wishes for a productive and thought-provoking discussion that will help advance our shared goal of full financial inclusion."
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