Branching Out

The vast majority of the adult population in advanced economies has access to basic financial services -- deposit accounts via bank branches and automated teller machines (ATM). In contrast, the availability of such financial services in developing economies is much more limited. This more limited access to financial services impedes economic growth and development. However, over the past five years financial services have been expanding in the developing world. Given the low access levels in developing countries, each new ATM or bank branch has a strong impact. Technological advances have played a big role in these developments.