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Wednesday, June 4, 2014

10:30 a.m. - 11:15 a.m.

FINANCIAL INCLUSION AND ROLE OF MOBILE MONEY

Michael McEvoy, Senior Principal, Payments Strategy, MASTERCARD ADVISORS

Approximately 50% of adults globally are “financially excluded” – meaning they do not have access to basic banking services, including the ability to access credit. However, there are now promising potential substitutes to “traditional data” that are emerging that can make financial inclusion possible. These alternative data sources include mobile prepaid, psychometric testing, social media data, as well as POS and online transaction data. This session will explore how financial institutions can use these alternative data to extend credit to the financially excluded and access an underserved market while contributing to economic development at the same time.

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