Kanishka NaikFintech reduces cost and distance barriers that exclude populations from formal financial services. Digital platforms enable account access without physical branches, reaching rural areas where traditional banking infrastructure does not exist.
Alternative credit scoring uses non-traditional data—such as mobile payment histories and transaction records—to assess creditworthiness for individuals without formal credit histories. This approach allows digital lenders to extend services to populations excluded from conventional lending.
Government-to-person digital payments are a documented use case for financial inclusion. Routing transfers directly to digital accounts reduces leakage, lowers administrative costs, and provides recipients with a formal account as a byproduct of receiving government assistance.