Key takeaways from webinar: Inclusive Finance

To explore what financial inclusion really means, why it matters, and how fintech is reshaping access for millions, FINTECH Circle hosted an insightful webinar with Meaghan Johnson and Alessandro Hatami, co-authors of the book Inclusive Finance. The session was moderated by Susanne Chishti, Founder & Chair of FINTECH Circle.

Date: October 10 2025
Author: FINTECH Circle

Around 1.7 billion people globally remain unbanked, and millions more are underbanked—unable to access the full suite of financial services needed to build a secure future. This isn’t just a developing world issue—it’s happening in major economies too, including the UK, where nearly a million adults still don’t have a bank account.

This blog summarises the depth of the conversation—covering global challenges, real-world examples, innovation use cases, and a live Q&A that addressed everything from regulation to crypto, investor sentiment, and scaling inclusive fintech solutions.

Defining Financial Inclusion – More Than Just Access

Meaghan Johnson opened the discussion by setting the foundation:

At its core, financial inclusion is about access—specifically, ensuring that individuals and businesses can use affordable, useful and responsible financial services. Drawing from the World Bank definition, Meaghan highlighted that true financial inclusion goes beyond opening bank accounts—it must be sustainable and meaningful.

She unpacked three layers of barriers that prevent people from engaging with the financial system:

1. Level: State/National
Barriers: Weak digital ID systems, lack of financial infrastructure, poor policy frameworks

2. Level: Private Sector
Barriers: Limited investment in underserved segments, outdated distribution models

3. Level: Individual
Barriers: Low financial literacy, mistrust, lack of proximity to financial services

Meaghan also clarified two key categories of exclusion:

Unbanked: No access to any formal financial services
Underbanked: Have limited services but lack full access to savings, loans, insurance, or investments

Despite challenges, she noted positive momentum—global financial exclusion is slowly shrinking, largely due to digital financial services and mobile money.

The Business Case for Inclusion – It’s Not Charity, It’s Opportunity

Taking over from Meaghan, Alessandro Hatami shifted the narrative. He emphasised that financial inclusion should not be viewed as ESG or charity—but as a business opportunity.

He highlighted three categories of benefit:

1. Social
Benefits: Reduced poverty, lower inequality, improved financial resilience

2. Economic
Benefits: Increased productivity, entrepreneurship, GDP growth

3. Financial
Benefits: Larger customer base, long-term loyalty, new revenue streams

Who Drives Financial Inclusion?

Alessandro also broke down who is responsible for driving financial inclusion and why collaboration is essential. He explained that consumers are at the heart of the ecosystem, as they are the ones who ultimately use and demand financial services.

However, governments play a foundational role by creating enabling policies and building critical infrastructure such as national digital identity systems, which greatly simplify access to financial services. Financial service providers—including banks, fintechs, and alternative lenders—are responsible for designing products that are fair, affordable, and accessible to underserved populations.

Supporting them are enablers such as identity verification companies, data platforms, and credit-scoring providers that supply the tools needed to onboard and evaluate new customers efficiently. Alessandro emphasised that digital identity is one of the most powerful accelerators of financial inclusion today.

He highlighted Sweden as a leading example—thanks to widespread adoption of BankID, financial exclusion is nearly eliminated—whereas countries like the UK still lag behind due to the absence of a national digital identity framework.