10 countries with highest number of individuals without a bank account

The World Bank reports over 1.6 billion adults globally lack bank accounts, with half stemming from the poorest 40% of households. Developing regions, especially Africa and parts of Asia, house the majority of the unbanked. This financial exclusion impedes economic growth and exacerbates poverty.

Innovations in fintech, such as payment gateways and lending platforms, are advancing financial inclusion, particularly in Sub-Saharan Africa, fostering economic activities in rural areas. A 2023 survey in Nigeria shows an increase in financial inclusion, with aspirations to further reduce exclusion rates by 2024.