Question

An organization's accounting department decides to send out a bill to a new customer. What type of decision does this represent?

Answer 1

Worldwide don’t use formal financial services and more than 50% of adults in the poorest households are unbanked. The unbanked population consists of adults who have no easy access to banks in their regions or who have developed a deep mistrust of the financial system. An initiative by the World Bank Group called Universal Financial Access 2020 is taking measures to ensure that the unbanked community has access to traditional platforms like checking accounts by 2020. People who have basic transaction accounts are classified as the underbanked. The underbanked are adults who have secured the traditional tools for conducting transactions (such as a bank account) but are not privy to the digital incorporation of these transactions (such as digital payments). Because having a basic bank account is the foundation on which disruptive innovations are built, fintech offers the underbanked a ticket to financial digital inclusiveness.