Banks are not for everyone

There are a lot of people who do not know what their options are when it comes to loans and savings accounts until someone helps them with those things.

Asdra

The world is a powerful place to live. It offers so many opportunities that it can be overwhelming at times, and banking services are no exception. There are a lot of people who do not know what their options are when it comes to loans and savings accounts until someone helps them with those things. In addition, most banks have pretty strict regulations and restrictions, leaving more than 1/4 of the population without financial security and access, also known as “the unbanked”.

The term “unbanked” refers to a diverse group of people who do not have banks or credit unions for their financial transactions.

There are 1.7 billion unbanked people, and nearly half of them live in just seven economies: China, India, Indonesia, Pakistan Nigeria Bangladesh, and Mexico. The most common groups of unbanked people include low-income households with little education, as well as female-headed households, young adults, and immigrants.

Why do they remain unbanked?

There are many reasons why people remain unbanked, and these can be a combination of the following:

  • poor credit history or unresolved issues from a previous banking relationship.
  • limited income
  • language barriers that make it difficult to navigate complicated forms that require certain information to open an account.

Asdra has the opportunity to change low-income communities for the better. The company’s innovative solutions combine modern technology with traditional banking, minimize red tape and fees, and maximize access no matter how far a person is from home.

The launch of Asdra represents a unique opportunity to give back by helping those in need achieve financial stability — whether they have an internet connection or not!

To learn more about our technology, Asdra Move, Asdra Protocol, Asdra Utility Token that binds the ecosystem, please visit asdra.com