In an increasingly connected world, digital finance has emerged as a transformative force, reshaping how individuals manage, save, and transact money. According to the latest data, 79% of adults globally now hold an account with a formal financial institution, marking a significant rise from 74% in 2021. This expansion underscores the importance of technology in driving financial access and highlights the need for a strategy that ensures no one is left behind. As we dissect progress, gaps, and innovations, our goal remains clear: to build a future where financial services are truly for all.

Global Progress and Trends

The past decade has witnessed remarkable strides in digital finance adoption. In low- and middle-income countries, 75% of adults in LMICs have secured accounts, reflecting a 20 percentage point jump since 2014. More impressively, more than half of accounts are now digitally enabled, providing users access to fast, convenient transactions via cards or mobile phones. This digital momentum is fueled by widespread mobile phone ownership, which now stands at 86% of adults worldwide. By 2024, 40% of adults in developing economies reported saving in a financial account, the fastest growth in over a decade. Such numbers reveal a shift from traditional banking to inclusive, tech-driven solutions.

Regional Disparities and Case Studies

While global averages paint an encouraging picture, regional variations remind us that progress is uneven. South Asia has achieved nearly 80% adult account ownership, with India at the forefront, where 90% of individuals—men and women alike—hold accounts and 65% own mobile phones. Sub-Saharan Africa, a leader in mobile money, increased account ownership from 49% in 2021 to 58% in 2024, driven by platforms like M-Pesa and Airtel Money. The Middle East and North Africa saw a rise from 45% to 53% in the same period, and Europe continues to lead, with Switzerland, Sweden, and Denmark topping global inclusion indices.

This regional lens highlights success stories and illuminates areas requiring targeted attention, especially where digital public infrastructure remains nascent or unevenly distributed.

Addressing Persistent Gaps

Despite gains, 1.3 billion adults are still unbanked, with over half residing in eight countries: Bangladesh, China, Egypt, India, Indonesia, Mexico, Nigeria, and Pakistan. These figures are not just statistics; they represent real individuals excluded from the financial mainstream. Of the unbanked, 55% of the unbanked are women, 52% belong to the poorest 40% of households, and 62% have only primary education. Phone ownership disparities—75% among those with limited education versus 93% with secondary or higher—underscore the digital divide. Furthermore, 54% of the unbanked are unemployed or out of the labor force, highlighting a strong link between economic opportunity and financial access.

• Women and gender-based barriers
• Low education and digital literacy
• Poverty and unemployment
• Rural and remote communities

Innovations and Technological Drivers

Technological breakthroughs continue to redefine financial inclusion. Mobile money has become central to Sub-Saharan Africa’s financial ecosystem, with 15% of adults globally holding mobile wallet accounts. In Asia, systems like India’s Unified Payments Interface (UPI) and Brazil’s PIX showcase real-time payment systems reduce transaction costs, enable instant transfers, and facilitate everyday commerce. Beyond payments, digital public infrastructure—such as open APIs, interoperable platforms, and robust identity frameworks—paves the way for scalable, cost-effective solutions.

• Mobile wallets and airtime-backed accounts
• Instant payment rails (UPI, PIX)
• Digital identity and KYC innovations
• Open finance and API ecosystems

Risks and Consumer Protection

As digital penetration deepens, so do risks. Many users face low digital and financial literacy, making them vulnerable to fraud, scams, and over-indebtedness. In Senegal, 43% of digital finance users reported exposure to fraudulent schemes. Data privacy and misuse concerns grow alongside the expansion of AI and open finance regimes. Without proper safeguards, progress can falter, eroding trust and hindering adoption. A commitment to responsible expansion and balanced regulation is essential, ensuring products meet actual consumer needs and build resilience rather than debt.

Policy Actions and Future Outlook

Stakeholders worldwide agree that the next chapter of financial inclusion must emphasize outcomes—financial health resilience and equity—not just access. Key policy levers include digital IDs, modernized payment systems, targeted social protection programs, and enhanced financial literacy initiatives. Collaborative efforts by the World Bank, EDISON Alliance, and other partners are driving progress, having reached 463 million people since 2021 through digital financial service expansion.

• Strengthen regulatory frameworks and consumer protections
• Invest in digital public infrastructure and connectivity
• Design inclusive financial products with user-centric approaches
• Implement social safety nets via digital channels

With the collective will of governments, private sector innovators, and civil society, digital finance can unlock unprecedented opportunities—lifting families out of poverty, empowering women entrepreneurs, and building resilient communities. The journey toward full inclusivity is complex, but the horizon is clear. By focusing on sustainable outcomes and bridging the remaining gaps, we can ensure that no one is left behind in the digital financial revolution.

As we forge ahead, maintaining a relentless focus on equity, safety, and impact will be our guiding compass. Together, we can transform aspirations into reality, creating a world where digital finance truly serves all.