How Affordable Mobile App Development Services Can Foster Financial Inclusion

Affordable Mobile app Development Services in India can bring underprivileged banks into the banking services network. In various corners of the world there are a large proportion of people who do not comply with the necessary banking rules. Technology can be used to bridge the gap between Un-banks and financial institutions. The challenges here are manifold. The traditional brick-and-mortar banking model has many limitations. Geographical barriers make it impossible for banks to open branches in all areas, logistics and transportation issues, and primitive technological landscapes prevent banks and financial institutions from reaching people with different problems that can be addressed by technology. For starters, rural and suburban areas do not have the customer base needed to set up a brick-and-mortar store. A small customer base or a large number of customers with little or no savings is the biggest obstacle to establishing a brick-and-mortar store. The establishment of st...