Emerging-market citizens and business owners typically meet their financial needs through informal systems that are insecure and costly. Banks, telecommunications companies, and the development community are developing ICT solutions to supplant these informal systems. ICTs can help the unbanked weather financial shocks, transform their livelihoods, and lift themselves out of poverty. Transitioning to a “cash-light” economy can also lower the cost of service delivery in areas such as health and education. Yet, to have such impact, digital financial services must scale to a national level.
Vital Wave works with development organizations, governments, mobile operators, financial service providers, and technology companies to foster financial inclusion and economic development through access to mobile money transfers, loans, insurance, and savings programs. The company has frequently guided the implementation of digital financial services, including non-technical systems and processes that enable scale.