AcuFi Experts and Founder, Nicholas Kohlschreiber, On How Developing Countries Can Benefit from Improved Access to Financial Services

IRVINE, CA / ACCESSWIRE / April 3, 2023 / To this day, poverty and economic inequality remain important challenges in many countries and for the world’s leaders. This is despite all the registered progress in the technological and social sectors, in the last 100 years. But various digital solutions have improved the rhythm of financial inclusion. This process was called by the World Bank “a cornerstone of development.” The key importance of this progress is also highlighted by the prominent element in eight of the 17 Sustainable Development Goals that the United Nations aims to achieve by 2030. “Worldwide, around 1.4 billion people remain unbanked, the majority of them in developing countries,” notes the founder of debt resolution platform AcuFi, Nicholas Kohlschreiber. “With the advent of financial technology (fintech) in the 21st century, there is great hope that emerging economies will benefit from improved access to financial services and reap all the benefits associated with it.”

AcuFi recognizes fintech as a disruptive force that carries the promise of dramatic change across developing regions. The global pandemic provided a tremendous boost to the adoption of digital services, creating powerful ecosystems that have supported financial inclusion. Due to the rise of fintech, the proportion of account holders in developing countries has risen to 71% compared to 42% a decade ago, as per the World Bank’s Global Findex 2021. As a result of this expansion, the people of these nations have benefited from new economic opportunities and improved household resilience to financial shocks. Moreover, fintech has helped narrow the gender gap when it comes to account ownership.

“While certain barriers to adoption remain, there is no doubt that developing countries stand to make tremendous gains by embracing fintech,” Nicholas Kohlschreiber says. “The key issues now are reaching populations in rural areas, educating people about the advantages of alternative financial services, implementing effective regulatory frameworks, and guaranteeing consumer and data protection. Strong fintech adoption carries profound implications for the economic and social well-being of people in developing regions. Financial inclusion plays a central role in reducing poverty, creating jobs, driving economic growth, improving health, promoting gender equality, fostering innovation, and advancing sustainability.”

About AcuFi:

AcuFi is a company dedicated to advocating for consumers burdened with unsecured debt to help them develop viable repayment plans and strategies. It provides debt resolution services to those looking for an alternative to bankruptcy, making it possible to reduce the amounts owed and settle the debts faster. AcuFi representatives work on behalf of the consumer with experts to create personalized debt relief plans.

AcuFi: http://acufi.com

AcuFi Founder, Nicholas Kohlschreiber, Examines the Future of FinTech with AI: https://www.yahoo.com/now/acufi-founder-nicholas-kohlschreiber-examines-021000601.html

Nick Kohlschreiber, Founder of AcuFi, Teaches Small Businesses to Use FinTech: https://www.yahoo.com/now/nick-kohlschreiber-founder-acufi-teaches-220000221.html

Contact Information:
Nicholas Kohlschreiber
AcuFi
[email protected]
949-992-2834
http://acufi.com

SOURCE: AcuFi