According to the World Bank, the number of "unbanked" adults who do not engage with financial services products has decreased by 700 million since 2011. The decline is a product of the surge in mobile payments, which has increased poor's use of banking products.
Almost two-thirds of adults around the globe are now thought to have a bank account, which the United Nations believes is an important step in alleviating poverty. Jim Yong Kim, president of the World Bank, said: "Access to financial services can serve as a bridge out of poverty. We have set a hugely ambitious goal - universal financial access by 2020 - and now we have evidence that we're making major progress. "This effort will require many partners - credit card companies, banks, microcredit institutions, the United Nations, foundations, and community leaders. But we can do it, and the payoff will be millions of people lifted out of poverty." Technology was cited as a particular boon to Sub-Saharan Africa, one of the world's poorest regions, particular because of the rise of mobile money accounts.