Vikram Pandit notes, in this recent Quartz article he penned, that while American ingenuity is part of the answer to financial inclusion, other countries have demonstrated that it requires a dynamic architecture to bring together the innovators, providers and government, regulators and central banks to work toward the same goal.
The ubiquitous availability of inexpensive technology and data sciences holds the promise of making affordable financial services accessible to all. And entrepreneurs are working hard to close the gap for the un- and under-banked in the US, using new technologies and business constructs to significantly reduce the cost of financial services, improve inclusion through electronic access and address the needs of clients. Examples of recent innovations include peer-to-peer lending for individuals and small businesses, mobile finance, cashless societies, and affordable savings and borrowing vehicles.
http://qz.com/296031/vikram-pandit-on-how-to-address-americas-two-speed-economic-recovery/