Mobile technology is redefining the way people access financial services, transforming lives by bringing banking, savings, credit, and insurance to even the most remote communities. This digital revolution has the power to unlock economic opportunities for millions, foster resilience, and drive sustainable growth. As we explore the journey from exclusion to inclusion, we reveal the data, regional stories, and practical steps that can guide policymakers, service providers, and individuals toward a more equitable financial future.

The State of Global Financial Inclusion

In just over a decade, account ownership has surged from 51% of adults in 2011 to 79% in 2025, according to the Global Findex. Yet 1.3 billion adults remain unbanked, a gap accentuated by income, location, and gender. While 61% of adults in low- and middle-income countries now make or receive digital payments, far too many still rely on cash, missing out on safety and efficiency.

Recent data also show that 40% of adults in developing economies saved in a financial account in 2024—a 16-point rise since 2021, marking the fastest increase in over a decade. In Sub-Saharan Africa alone, formal savings climbed to 35%. These shifts underscore that access must be matched by usage if financial inclusion is to fulfill its promise.

Mobile Connectivity: A Catalyst for Change

Phone penetration is the linchpin of this transformation. Today, 86% of adults worldwide own a mobile phone and 68% own a smartphone. Among the unbanked, around 900 million have a phone, and 530 million have a smartphone—revealing a vast opportunity for digital finance to reach those on the margins.

The new Digital Connectivity Tracker from Findex highlights how mobile access and internet use are now inseparable from financial inclusion. Mobile technologies contributed US$6.5 trillion to global GDP in 2024, or 5.8%, demonstrating their economic clout. By leveraging these connections, stakeholders can break down geographic and documentation barriers and deliver services at unprecedented scale.

The Rise of Mobile Money: Empowerment at Scale

Mobile money has evolved from simple peer-to-peer transfers to a comprehensive financial ecosystem. With over half a billion accounts globally and 330 million active in Sub-Saharan Africa, these platforms are now conduits for savings, credit, and insurance. In many low-income countries, mobile money accounts outnumber traditional bank accounts.

Beyond payments, mobile money users can access microloans, crop insurance, and health cover. The share of adults using mobile money for formal savings in Sub-Saharan Africa has doubled since 2021. GSMA reports that by 2023, mobile money added over US$720 billion to the GDP of countries offering these services—evidence of transformative macroeconomic impact.

Digital Banking in a Connected World

While mobile money leads in emerging markets, smartphone banking apps thrive in advanced economies. Over 3.6 billion people globally used online banking in 2025. In countries like Denmark, Germany, and the UK, mobile banking adoption nears 100%, offering seamless, branchless financial management.

Yet disparities persist: Pakistan’s mobile banking adoption is 21%, Egypt’s 27%, and Niger’s just 12%. This contrast highlights the dual challenge of providing basic access through USSD and SMS solutions and fostering smartphone-based innovation. A hybrid approach can ensure no community is left behind.

Regional Perspectives: Success Stories and Remaining Challenges

The path to inclusion varies by region, reflecting unique contexts and innovations. Below is a snapshot of account ownership and mobile money usage in key areas:

Success stories abound: India’s UPI system and digital ID have propelled usage beyond ownership. Kenya’s M-Pesa offers a model of rural penetration. In Latin America, mobile wallets integrated with banks fuel e-commerce and gig economies. Yet gender gaps and regulatory hurdles remain in regions like the Middle East & North Africa, where account ownership rose from 45% to 53% between 2021 and 2024.

Key Benefits of Mobile Financial Inclusion

• Enhanced safety and reduced theft through digital payments
• Cost-effective remittances and cross-border transfers
• Access to formal savings and credit products
• Improved transparency in government and wage payments

These benefits not only uplift individuals but also strengthen entire economies by increasing productivity, boosting household resilience, and fostering entrepreneurship.

Charting the Path Forward

To extend these gains, stakeholders must collaborate. Policymakers should create enabling regulations that encourage innovation while protecting consumers. Service providers can invest in user-centric design and agent networks to reach underserved communities. Financial educators and community groups can build trust and digital literacy on the ground.

By adopting purpose-driven strategies and inclusive models, we can close the remaining gaps. Practical measures include subsidizing smartphone ownership, supporting interoperable platforms, and tailoring products for women and rural populations. Above all, continuous data tracking and stakeholder dialogue will ensure solutions adapt to evolving needs.

Mobile technology has already bridged divides and reshaped financial lives around the globe. By harnessing its full potential—driven by innovation, partnership, and a shared vision of equity—we can ensure that every individual, regardless of location or income, has the opportunity to thrive financially.