Financial Inclusion for the Middle Class in the Digital Age - by CreditEase Fintech Fund's Anju Patwardhan

By CreditEase Fintech Fund's Anju Patwardhan

Anju Patwardhan is a senior partner of the CreditEase Fintech Fund, she is also a Fulbright Fellow and visiting scholar at Stanford University; in her presentation she defines financial inclusion and shares the difference of unbanked and underbanked populations; there are approximately two billion unbanked adults globally and several billion underbanked adults globally; on the small business side, small businesses in the emerging markets are half the global GDP yet 60% to 70% of small businesses do not have access to credit from formal financial institutions leaving a $2.1 trillion credit gap; financial exclusion isn’t limited to the emerging markets; Patwardhan shares that the middle class is also underserved with 27% of all US households being underserved; in her presentation, she also discusses technology enablers for financial inclusion including mobile technology, biometrics, big data and cryptocurrencies; also discusses financial inclusion and how it relates to the China and Indian markets.