{"id":37673,"date":"2022-08-17T12:17:13","date_gmt":"2022-08-17T11:17:13","guid":{"rendered":"https:\/\/www.elixirr.com\/?p=37673"},"modified":"2025-10-31T10:40:08","modified_gmt":"2025-10-31T10:40:08","slug":"the-risk-of-financial-inclusion","status":"publish","type":"post","link":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/","title":{"rendered":"The ‘risk’ of financial inclusion"},"content":{"rendered":"\n

The rise of digital banks, especially within the retail space, is the modern-day gold rush, with an entrant growth of 150% in the last 5 years<\/a>. Within the developed economies, the market is saturated with new entrants competing to grow their customer base through more enticing sign-up benefits or cash incentives. And the reason for this is simple: through digitizing operations and reducing the necessity for physical assets, banks are able to lower their capital and operational expenditure while simultaneously scaling their customers \u2013 notable players here are Monzo, Revolut, and JP Morgan\u2019s \u2018Chase\u2019 Digital Bank. <\/p>\n\n\n\n

One of the unique selling points (USPs) of these digital banks for new customers is their simplified and efficient onboarding process. Prospective customers are able to open a bank account in minutes by downloading an app to their smartphone and completing a few easy steps (i.e. ID document upload, liveliness face and voice tests) from the comfort of their home.<\/p>\n\n\n\n

The benefits of this business case for both banks and customers are well-known, and \u2018green-shoots\u2019 are now appearing within developing economies. A good example of this is TymeBank<\/a> in South Africa. Tyme have been able to grow their customer base exponentially, onboarding roughly 110,000<\/a> customers each month, by providing a more accessible platform for their customers to interface with.<\/p>\n\n\n\n

TymeBank\u2019s hybrid approach<\/strong><\/h2>\n\n\n\n

What differentiates Tyme from other digital banking players is how they have been actively targeting large groups of individuals within the lower socio-economic demographics. Tyme\u2019s customers are predominantly from the unbanked and underserved segments. South Africans earning less than $200 a month make up 48% of their active user base, with 65%<\/a> of their overall customer-base constituting women within the low-income segment.<\/p>\n\n\n\n

Tyme has tailored their offering to be relevant to these specific economic demographics by understanding the financial needs of their users and introducing unique products such as their \u201cGoalSave\u201d savings account and \u201cMoreTyme\u201d credit service. By following a customer-centric approach, they have been able to create inexpensive and practical solutions that assist their targeted clientele in their daily lives.<\/p>\n\n\n\n

Tyme have been able to onboard large volumes of individuals from a previously financially excluded demographic through a creative and sophisticated hybrid onboarding process. This onboarding solution consists of building and implementing digital kiosks in the local communities within the grocery stores like Pick \u2018n Pay and Boxer, and stationing ambassadors to promote their services and assist prospective clients.<\/p>\n\n\n\n

\"\"<\/a>
A high level overview<\/a><\/figcaption><\/figure>\n\n\n\n

The opportunity<\/strong><\/h2>\n\n\n\n

The question that is often raised with initiatives that are targeted towards lower-income demographics is one of profitability. For the digital banking model this is derived through volume: the more customers, the more revenue generated through bank fees and other service charges. Importantly, the cost of bringing on new customers should not be greater than the projected revenue the customer\u2019s fees and charges would accumulate.<\/p>\n\n\n\n

Although Tyme\u2019s onboarding solution is sophisticated and has been successful in scaling their target customer base, it still incurs large operational expenses due to the digital kiosks \u2013 roughly $281,000<\/a> a month. This is detrimental to a business\u2019 profit margin, especially one that derives its revenue through onboarding large volumes of customers.<\/p>\n\n\n\n

Currently the bank does have the ability to open an account and onboard via web channels (at 20% the cost of the digital kiosk), but this has a very low take-up rate with only 15% of its customers using that avenue. This could be attributed to a host of factors but primarily a lack of access to the digital infrastructure required.<\/p>\n\n\n\n

However, there is an opportunity that would allow Tyme and digital banks alike to continue to scale their business with their targeted customer-base at far cheaper rates: a digital \u2018plug-and-play\u2019 risk scoring point solution.<\/p>\n\n\n\n

In 2017, there was a change in Know Your Customer\/Anti-Money Laundering (KYC\/AML) regulations in South Africa. The purpose being more financial inclusivity for individuals who were previously excluded from the formal banking system by introducing a risk-based assessment (RBA) methodology. This created the opportunity for more sophisticated and creative risk scoring solutions to measure the perceived risk presented by an individual and capture the largely underserved market. This regulation change is coupled with a consumer base that has increased access to smart technology \u2013 91% of South African adults own a mobile phone, with 51%<\/a> owning a smartphone device. This number is only expected to grow in the coming years with large investments on the African continent from the likes of Huawei and the decreasing cost of smartphone ownership. <\/p>\n\n\n\n

Therefore, a purely digital onboarding point solution would complete the identification, verification and risk screening of the targeted demographic through a plug-in mobile application. It could utilize Machine Learning and Artificial Intelligence (ML\/AI) data analytics to assess the perceived risk presented by prospective customers through the established Department of Home Affairs database and others like it. <\/p>\n\n\n\n

The \u2018risk\u2019 factor<\/strong><\/h2>\n\n\n\n

Software like this has already been developed and implemented by digital banks within other geographies through companies such as Jumio<\/a>, who supply the KYC\/AML capabilities for the digital banks to continue to onboard large volumes at rapid rates. These risk solutions are much cheaper than the current physical kiosk costs and aren\u2019t subject to external factors such as opening and closing times of the partner stores, or ambassador availability\/location. In order to make this work, the risk algorithm would need to be tailored to the different customer personas and geographical regulation intricacies, but the inherent \u2018foundations\u2019 would remain the same. <\/p>\n\n\n\n

Ultimately, through this integration, customers could use their mobile devices to complete their account onboarding, digital banks could reduce their reliance on expensive infrastructure, and financial inclusion initiatives would be able to impact more individuals within these demographics. This would also lead to a movement away from money mobile providers and allow customers to have access to more sophisticated and bespoke financial products and services which could assist in generating more thorough financial records and even credit histories.<\/p>\n\n\n\n

However, it\u2019s not perhaps as simple as it seems, as any onboarding solution will always carry an element of risk whether it be physical, brick-and-mortar or completely digital. Through introducing this more digital approach, considerations would need to be made on the level of risk that could be invited while scaling larger volumes of previously unbanked individuals.<\/p>\n\n\n\n

And that\u2019s exactly what we\u2019ll explore in part II, as we address the challenge of maintaining the ideal balance between an open and inclusive onboarding process and an accurate yet moderately risk-safe appetite.<\/p>\n","protected":false},"excerpt":{"rendered":"

The rise of digital banks, especially within the retail space, is the modern-day gold rush, with an entrant growth of 150% in the last 5 years. Within the developed economies, the…<\/p>\n","protected":false},"author":1,"featured_media":37690,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[116],"tags":[103,95,317,129,318],"related_service":[],"related_industry":[42],"class_list":["post-37673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog","tag-africa","tag-banking","tag-digital-banks","tag-financial-services","tag-onboarding"],"acf":[],"yoast_head":"\nThe 'risk' of financial inclusion - Elixirr - USA<\/title>\n<meta name=\"description\" content=\"Digital banks, listen up. Here's your strategy to increase your social impact and profit margins in one. A hybrid onboarding process.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The 'risk' of financial inclusion\" \/>\n<meta property=\"og:description\" content=\"Digital banks, listen up. Here's your strategy to increase your social impact and profit margins in one. A hybrid onboarding process.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/\" \/>\n<meta property=\"og:site_name\" content=\"Elixirr - USA\" \/>\n<meta property=\"article:published_time\" content=\"2022-08-17T11:17:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-10-31T10:40:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2400\" \/>\n\t<meta property=\"og:image:height\" content=\"1440\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"edx\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"edx\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/\"},\"author\":{\"name\":\"edx\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#\/schema\/person\/21faac779b9228efe960d1f4aac3f3f1\"},\"headline\":\"The ‘risk’ of financial inclusion\",\"datePublished\":\"2022-08-17T11:17:13+00:00\",\"dateModified\":\"2025-10-31T10:40:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/\"},\"wordCount\":1096,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg\",\"keywords\":[\"Africa\",\"Banking\",\"Digital banks\",\"Financial Services\",\"Onboarding\"],\"articleSection\":[\"Articles\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/\",\"url\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/\",\"name\":\"The 'risk' of financial inclusion - Elixirr - USA\",\"isPartOf\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg\",\"datePublished\":\"2022-08-17T11:17:13+00:00\",\"dateModified\":\"2025-10-31T10:40:08+00:00\",\"description\":\"Digital banks, listen up. Here's your strategy to increase your social impact and profit margins in one. A hybrid onboarding process.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#primaryimage\",\"url\":\"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg\",\"contentUrl\":\"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg\",\"width\":2400,\"height\":1440},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.elixirr.com\/en-us\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The ‘risk’ of financial inclusion\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#website\",\"url\":\"https:\/\/www.elixirr.com\/en-us\/\",\"name\":\"Elixirr - USA\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.elixirr.com\/en-us\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#organization\",\"name\":\"Elixirr\",\"alternateName\":\"Elixirr International PLC\",\"url\":\"https:\/\/www.elixirr.com\/en-us\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2025\/11\/elixirr-logo.png\",\"contentUrl\":\"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2025\/11\/elixirr-logo.png\",\"width\":200,\"height\":200,\"caption\":\"Elixirr\"},\"image\":{\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#\/schema\/person\/21faac779b9228efe960d1f4aac3f3f1\",\"name\":\"edx\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.elixirr.com\/en-us\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/162ae25ced79c001c564cbc5c8310d19e3cf4e71ace4075a77d65c92a7f6fb3a?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/162ae25ced79c001c564cbc5c8310d19e3cf4e71ace4075a77d65c92a7f6fb3a?s=96&d=mm&r=g\",\"caption\":\"edx\"},\"sameAs\":[\"http:\/\/elixirr.vps.staging.elixirrdigital.com\"],\"url\":\"https:\/\/www.elixirr.com\/en-us\/person\/edx\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"The 'risk' of financial inclusion - Elixirr - USA","description":"Digital banks, listen up. Here's your strategy to increase your social impact and profit margins in one. A hybrid onboarding process.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/","og_locale":"en_US","og_type":"article","og_title":"The 'risk' of financial inclusion","og_description":"Digital banks, listen up. Here's your strategy to increase your social impact and profit margins in one. A hybrid onboarding process.","og_url":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/","og_site_name":"Elixirr - USA","article_published_time":"2022-08-17T11:17:13+00:00","article_modified_time":"2025-10-31T10:40:08+00:00","og_image":[{"width":2400,"height":1440,"url":"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg","type":"image\/jpeg"}],"author":"edx","twitter_card":"summary_large_image","twitter_misc":{"Written by":"edx","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#article","isPartOf":{"@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/"},"author":{"name":"edx","@id":"https:\/\/www.elixirr.com\/en-us\/#\/schema\/person\/21faac779b9228efe960d1f4aac3f3f1"},"headline":"The ‘risk’ of financial inclusion","datePublished":"2022-08-17T11:17:13+00:00","dateModified":"2025-10-31T10:40:08+00:00","mainEntityOfPage":{"@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/"},"wordCount":1096,"commentCount":0,"publisher":{"@id":"https:\/\/www.elixirr.com\/en-us\/#organization"},"image":{"@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#primaryimage"},"thumbnailUrl":"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg","keywords":["Africa","Banking","Digital banks","Financial Services","Onboarding"],"articleSection":["Articles"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/","url":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/","name":"The 'risk' of financial inclusion - Elixirr - USA","isPartOf":{"@id":"https:\/\/www.elixirr.com\/en-us\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#primaryimage"},"image":{"@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#primaryimage"},"thumbnailUrl":"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg","datePublished":"2022-08-17T11:17:13+00:00","dateModified":"2025-10-31T10:40:08+00:00","description":"Digital banks, listen up. Here's your strategy to increase your social impact and profit margins in one. A hybrid onboarding process.","breadcrumb":{"@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#primaryimage","url":"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg","contentUrl":"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg","width":2400,"height":1440},{"@type":"BreadcrumbList","@id":"https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.elixirr.com\/en-us\/"},{"@type":"ListItem","position":2,"name":"The ‘risk’ of financial inclusion"}]},{"@type":"WebSite","@id":"https:\/\/www.elixirr.com\/en-us\/#website","url":"https:\/\/www.elixirr.com\/en-us\/","name":"Elixirr - USA","description":"","publisher":{"@id":"https:\/\/www.elixirr.com\/en-us\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.elixirr.com\/en-us\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/www.elixirr.com\/en-us\/#organization","name":"Elixirr","alternateName":"Elixirr International PLC","url":"https:\/\/www.elixirr.com\/en-us\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.elixirr.com\/en-us\/#\/schema\/logo\/image\/","url":"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2025\/11\/elixirr-logo.png","contentUrl":"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2025\/11\/elixirr-logo.png","width":200,"height":200,"caption":"Elixirr"},"image":{"@id":"https:\/\/www.elixirr.com\/en-us\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/www.elixirr.com\/en-us\/#\/schema\/person\/21faac779b9228efe960d1f4aac3f3f1","name":"edx","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.elixirr.com\/en-us\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/162ae25ced79c001c564cbc5c8310d19e3cf4e71ace4075a77d65c92a7f6fb3a?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/162ae25ced79c001c564cbc5c8310d19e3cf4e71ace4075a77d65c92a7f6fb3a?s=96&d=mm&r=g","caption":"edx"},"sameAs":["http:\/\/elixirr.vps.staging.elixirrdigital.com"],"url":"https:\/\/www.elixirr.com\/en-us\/person\/edx\/"}]}},"card":"<article class=\"wp-component-card edwp-component wp-component-card--resource wp-component-card--link js-card-link\n edwp-fade-in\">\n <figure class=\"wp-component-card__image-wrapper\">\n <img width=\"2400\" height=\"1440\" src=\"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg\" class=\"wp-component-card__image\" alt=\"\" decoding=\"async\" srcset=\"https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33.jpg 2400w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-300x180.jpg 300w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-1024x614.jpg 1024w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-768x461.jpg 768w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-1536x922.jpg 1536w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-2048x1229.jpg 2048w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-87x52.jpg 87w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-319x191.jpg 319w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-479x287.jpg 479w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-567x340.jpg 567w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-767x460.jpg 767w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-1023x614.jpg 1023w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-1278x767.jpg 1278w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-1378x827.jpg 1378w, https:\/\/www.elixirr.com\/en-us\/wp-content\/uploads\/sites\/2\/2022\/08\/Untitled-design-33-1640x984.jpg 1640w\" sizes=\"(max-width: 2400px) 100vw, 2400px\" \/> <div class=\"wp-component-card__preview-icon\">\n <span class='edwp-svg '><svg width=\"47\" height=\"47\" viewBox=\"0 0 47 47\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<g>\n<path d=\"M23.4141 0.539062C36.1232 0.539183 46.4258 10.8416 46.4258 23.5508C46.4257 36.2599 36.1231 46.5624 23.4141 46.5625C10.7049 46.5625 0.402465 36.2599 0.402344 23.5508C0.402344 10.8415 10.7048 0.539062 23.4141 0.539062ZM23.4141 1.68945C11.3606 1.68945 1.55273 11.4974 1.55273 23.5508C1.55286 35.6041 11.3607 45.4111 23.4141 45.4111C35.4673 45.411 45.2743 35.604 45.2744 23.5508C45.2744 11.4974 35.4674 1.68957 23.4141 1.68945Z\" fill=\"currentColor\"\/>\n<path d=\"M19.2841 33.6992C18.9579 33.6986 18.6374 33.6111 18.3543 33.4454C17.7167 33.0759 17.3203 32.3585 17.3203 31.5797V15.8189C17.3203 15.0379 17.7167 14.3227 18.3543 13.9531C18.6442 13.7827 18.9735 13.6951 19.3078 13.6994C19.6421 13.7037 19.9692 13.7998 20.2548 13.9776L33.4237 22.0406C33.6981 22.2166 33.9244 22.461 34.0812 22.751C34.238 23.0409 34.3203 23.3668 34.3203 23.6982C34.3203 24.0295 34.238 24.3555 34.0812 24.6454C33.9244 24.9353 33.6981 25.1798 33.4237 25.3558L20.2527 33.421C19.9604 33.6017 19.6256 33.6979 19.2841 33.6992Z\" fill=\"currentColor\"\/>\n<\/g>\n<\/svg>\n<\/span> <\/div>\n <\/figure>\n <div class=\"wp-component-card__content edwp-row-load\">\n <p class=\"wp-component-card__eyebrow\">\n Articles <\/p>\n <a href='https:\/\/www.elixirr.com\/en-us\/the-risk-of-financial-inclusion\/' class='wp-component-card__title'>\n <h2>\n The ‘risk’ of financial inclusion\n <\/h2>\n <\/a> <div class=\"wp-component-card__description\">\n The rise of digital banks, especially within the retail space, is the modern-day gold rush, with an entrant growth of 150% in the last 5 years. Within the developed economies, the… <\/div>\n <div class=\"wp-component-card__meta\">\n <p class=\"wp-component-card__date\">\n 17 August 2022 <\/p>\n <div class=\"wp-component-card__terms\">\n <div class=\"wp-component-tags edwp-component\">\n <div class=\"wp-component-tags__tag\">\n Financial Services <\/div>\n <\/div>\n <\/div>\n <\/div>\n <div class=\"wp-component-card__button-wrapper\">\n <button class=\"btn btn--link arrow wp-component-card__button\">\n Read more <span class='edwp-svg '><svg width=\"20\" height=\"20\" viewBox=\"0 0 20 20\" fill=\"none\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\">\n<g id=\"Lg\">\n<path id=\"Vector\" d=\"M1.12509 9.50162H15.8648L9.43259 3.06941C9.374 3.0113 9.3275 2.94216 9.29576 2.86599C9.26403 2.78981 9.24769 2.70811 9.24769 2.62559C9.24769 2.54307 9.26403 2.46137 9.29576 2.38519C9.3275 2.30902 9.374 2.23988 9.43259 2.18177C9.54971 2.06535 9.70814 2 9.87328 2C10.0384 2 10.1969 2.06535 10.314 2.18177L17.8151 9.6829C17.8737 9.74101 17.9202 9.81014 17.9519 9.88632C17.9837 9.96249 18 10.0442 18 10.1267C18 10.2092 17.9837 10.2909 17.9519 10.3671C17.9202 10.4433 17.8737 10.5124 17.8151 10.5705L10.314 18.0717C10.1975 18.1871 10.0404 18.2522 9.87641 18.2529C9.79414 18.2534 9.71259 18.2376 9.63643 18.2065C9.56027 18.1754 9.491 18.1296 9.43259 18.0717C9.374 18.0135 9.3275 17.9444 9.29576 17.8682C9.26403 17.7921 9.24769 17.7104 9.24769 17.6278C9.24769 17.5453 9.26403 17.4636 9.29576 17.3874C9.3275 17.3113 9.374 17.2421 9.43259 17.184L15.8711 10.7518H1.12509C0.959309 10.7518 0.800312 10.686 0.683084 10.5687C0.565857 10.4515 0.5 10.2925 0.5 10.1267C0.5 9.96093 0.565857 9.80193 0.683084 9.68471C0.800312 9.56748 0.959309 9.50162 1.12509 9.50162Z\" fill=\"#1D0F25\"\/>\n<\/g>\n<\/svg>\n<\/span> <\/button>\n <\/div>\n <\/div>\n<\/article>\n","_links":{"self":[{"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/posts\/37673","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/comments?post=37673"}],"version-history":[{"count":3,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/posts\/37673\/revisions"}],"predecessor-version":[{"id":58476,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/posts\/37673\/revisions\/58476"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/media\/37690"}],"wp:attachment":[{"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/media?parent=37673"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/categories?post=37673"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/tags?post=37673"},{"taxonomy":"related_service","embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/related_service?post=37673"},{"taxonomy":"related_industry","embeddable":true,"href":"https:\/\/www.elixirr.com\/en-us\/wp-json\/wp\/v2\/related_industry?post=37673"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}