Banks have a notable history of extending financial services to an increasingly large segment of the world’s population. Still, more than a third of the world’s adult population and numerous small companies make little or no use of formal financial services. The majority of this population are found in low- and middle-income emerging markets; though in high-income countries, large numbers of people also do not draw on banks to help meet their day-to-day financial needs. From a business standpoint, it was reasonable for banks to leave such
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