Unbanked no more, Indians embrace mobile technology

Access to technology and regulatory changes mean vast numbers of India’s poor may no longer go unbanked.

For international banks, the Indian story can too often be boiled down to one of opportunity and frustration in equal measure. The potential of the country’s vast unbanked population is well documented, but how to generate business from it is not clear or easy.

The incentive for banks to find a way is beyond dispute. Margins in emerging markets for banks tend to be higher than those from the decidedly ordinary-looking developed markets for a number of reasons. Foremost among them is the lack of commoditisation of products less of a need for expensive customisation of products is another.

Additionally, the size of the market means banks do not necessarily have to stand...

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