Traditional banks have focused heavily on commercial lending, leaving a rapidly growing and digitally savvy population with limited access to the financial services they need. This gap in financial access has been a major obstacle to economic development and prosperity in the country.
Moreover, digital banks have been able to leverage technology to reach underserved segments of the population such as the unbanked and underbanked. For example, Maya Bank, a digital bank powered by PayMaya, has targeted the unbanked by offering its app in multiple languages and providing access to financial services through its extensive network of partner merchants and agents.
Financial Inclusion
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