Good news!
It has been reported for years that financial services via smartphone in less developed countries are progressing at a much faster pace and are more advanced than in developed countries.
Do more with your phone!
"“More adults than ever in low- and middle-income countries now have bank or other financial accounts, leading to a rise in formal saving, according to the World Bank Group’s Global Findex 2025 report. ...
In 2024, 40% of adults in developing economies saved in a financial account in 2024—a 16-percentage-point increase since 2021 and the fastest rise in more than a decade. ..."
"... Mobile-phone technology played a key role in the surge, with 10% of adults in developing economies using a mobile-money account to save—a 5-percentage point increase from 2021. ...
Higher personal saving—through banks or other formal institutions—fuels national financial systems, making more funds available for investment, innovation, and economic growth.
In Sub-Saharan Africa, formal savings increased by 12-percentage points to 35% of adults. ..."
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