Account ownership is the fundamental measure of financial inclusion and the gateway to using financial services in a way that facilitates development. Owners of formal accounts—whether those accounts are with a bank or regulated institution such as a credit union, microfinance institution, or a mobile money service provider —are able to store, send, and receive money, enabling the owners to invest in health, education, and businesses.
Given the positive benefits enabled by account ownership, the growth captured in the Global Findex 2021 is cause for celebration. The following points are the headline findings on ownership:
- Worldwide, account ownership increased by 50 percent in the 10 years spanning 2011 to 2021, to reach 76 percent of the global adult population.