A growing number of adults in low- and middle-income countries now hold bank or other financial accounts, resulting in an increase in formal savings, according to the World Bank Group’s Global Findex 2025 report. This momentum in financial inclusion is fostering new economic opportunities. Mobile-phone technology has been pivotal in this surge, with 10 percent of adults in developing economies utilizing a mobile-money account to save—a 5-percentage-point increase from 2021.
In 2024, 40 percent of adults in developing economies saved in a financial account, marking a 16-percentage-point increase since 2021 and the fastest growth in over a decade. Enhanced personal savings—through banks or other formal institutions—promote national financial systems, making more funds available for investment, innovation, and economic expansion. In Sub-Saharan Africa, formal savings increased by 12 percentage points to 35 percent of adults.
Transforming lives through inclusion
“Financial inclusion has the potential to improve lives and transform entire economies,” stated World Bank Group President Ajay Banga. “Digital finance can convert this potential into reality, but several ingredients need to be in place. At the World Bank Group, we’re working on all of them. We’re helping countries get their people access to new or improved digital IDs. We’re constructing social protection programs with digital cash-transfer systems that deliver resources directly to those in need. We’re modernizing payment systems and helping to remove regulatory roadblocks—so that people and businesses have the financing they need to innovate and create jobs.”
Bill Gates, chair of the Gates Foundation, a supporter of the Global Findex, remarked: “More people than ever have the financial tools to invest in their futures and build economic resilience, including women and others previously left behind. This is real progress. The case for investing in inclusive financial systems, digital public infrastructure, and connectivity is clear—it’s a proven path to unlocking opportunity for everyone.”
The Global Findex serves as the definitive source of data on global access to financial services—from payments to savings and borrowing. It underscores a significant milestone in financial inclusion: nearly 80 percent of adults worldwide now have a financial account, up from 50 percent in 2011. However, 1.3 billion adults still lack access to financial services. Mobile phones could help bridge this gap: approximately 900 million adults without financial accounts possess a mobile phone, including 530 million with smartphones.
Enhancing financial usage with instant transfers
Investments in systems that enable instant money transfers—such as UPI in India or PIX in Brazil—could enhance financial usage. Furthermore, stronger consumer-protection frameworks and initiatives to secure phones and accounts may also help.
The Findex data illustrates that digital financial services are aiding in narrowing the gender gap in account ownership: globally, 77 percent of women have accounts compared to 81 percent of men. In low- and middle-income countries, women’s account ownership has nearly doubled—from 37 percent in 2011 to 73 percent in 2024.
For the first time, the report includes data on personal mobile-phone ownership and internet usage. Globally, 86 percent of adults owned a mobile phone, including 68 percent of adults with a smartphone, according to the Global Findex Digital Connectivity Tracker 2025. However, the growing use of mobile phones for digital transactions introduces new risks. Among the 4 billion adults in low- and middle-income economies who own a mobile phone, only about half use a password to protect their device.
Across all developing nations, a rising number of adults are also utilizing mobile phones or cards to make payments to merchants. In 2024, 42 percent of adults in low- and middle-income countries conducted an in-store or online digital merchant payment, up from 35 percent in 2021. Moreover, three-quarters of adults receiving government payments—and half of wage earners—receive their funds into an account, a practice that mitigates theft and ensures that money is directed to the right individuals.
Regional highlights
- East Asia and Pacific: This region leads globally in digital connectivity and financial service usage: 86 percent of adults own a smartphone, and 83 percent have a financial account.
- Europe and Central Asia: The region boasts the highest internet usage and social media engagement rates among developing economies, with mobile-phone ownership rates exceeding 94 percent.
- Latin America and the Caribbean: Approximately 70 percent of adults have an account, with over half using their account digitally via a card or phone.
- Middle East and North Africa: Account ownership rose to 53 percent from 45 percent in 2021. By 2024, 17 percent of adults save formally, up from 11 percent in 2021.
- South Asia: Nearly 80 percent of adults possess an account, driven largely by India, where 90 percent of both men and women have an account and 65 percent own a mobile phone.
- Sub-Saharan Africa: Account ownership in this region increased to 58 percent of adults, up from 49 percent in 2021, with mobile money account usage at the highest levels globally.
