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Banking the unbanked

Banking the unbanked
 

This is a guest post by James Stickland, CEO of Veridium.

Nearly 3.5B people worldwide are unable to access banking services. To date, efforts at solving this problem have been built on traditional banking models, often requiring physical access to branches and onerous verification of identity. This approach doesn’t work in many emerging markets, leaving billions worldwide without access to financial services. Veridium, in collaboration with Wala – a blockchain-powered financial services platform – has embarked on a pilot program in sub-Saharan Africa to demonstrate a new digital banking model that will bring accessible, zero-fee banking to this population.

Our next webinar is Banking the Unbanked. Tricia Martinez, Founder and CEO of Wala, will discuss the innovations in mobile devices that are helping financial institutions to bank the under- and unbanked across the globe. Leveraging mobile technology, as well as blockchain and other more recent innovations, companies like Wala and Veridium are looking to bring banking services to the under- and unbanked in Sub-Saharan Africa.

Join us on January 25th, 11 am EST, to learn more about the challenges we had to overcome in this project, and the lessons we learned along the way, as well as why biometric authentication played an important role in making this effort possible in the first place.

DISCLAIMER: BiometricUpdate.com blogs are submitted content. The views expressed in this blog are that of the author, and don’t necessarily reflect the views of BiometricUpdate.com.

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