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Digital Financial Inclusion of Youth in developing countries

According to OECD (2020), almost half of the young people around the world do not have a basic bank account at a formal financial institution. There is a disparity in opportunities that youth in developing economies face in comparison to youth in developed economies. For instance, 84% of young people in high-income countries are financially included, compared with fewer than 40% in Sub-Saharan Africa (SSA), Middle East and North Africa (MENA), and Latin America and the Caribbean. The main issue is effective access to affordable Digital Financial Services and the lack of financial knowledge, skills, and awareness of financial products and services. To address these issues my idea is:


The development of a collaborative digital platform for Digital Financial Inclusion of Youth: a low bandwidth browsing platform, allowing people to access banking and finance apps using free weekly data.

 


How does it work?

 


1. In partnership with financial institutions develop low-data-consume apps that allow basic flexible services, with ow opening and maintaining costs, like:

 


a) Sending and receiving money.
b) Features that help young people with budgeting and basic financial literacy

 


2. A partnership between mobile operators and financial institutions, strengthened by ITU, provides a weekly balance of free data to access the finance apps.

Name the country/territory where you are a resident of.

Brazil

Did you email the mandatory application form to innovationchallenges@itu.int ?

Yes

Have you uploaded an original image of yourself on the display of your profile?

Yes

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Nivashini Rave Rattey 1 month ago

The idea has been progressed to the next milestone.

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Angely Bernardo 1 month ago

Thanks!

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Muchinga General Enterprises Limited (MGE) 1 month ago

Great idea like ours

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Angely Bernardo 1 month ago

Thank you so much!

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Esho Banchte Shikhee 1 month ago

The implementation of the idea will bring easiness in life.

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Angely Bernardo 1 month ago

Thank you!

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Kader ILBOUDO 1 month ago

Impactful project

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Angely Bernardo 1 month ago

Thank you!

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