2023 New Value Report

Financial Inclusion Can Generate $380 Billion in Revenues for Banks

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Banks could generate $380 billion in annual revenues by leveraging financial inclusion opportunities in emerging markets in five years, according to a report by Accenture.

Accenture estimates that the revenues will come from “closing the small business credit gap” and expanding access to unbanked adults. A $90 billion share of these profits will come from just twelve countries.

Estimated revenue potential in USD billion:


Of course, the existence of such a huge opportunity also speaks to how banks have traditionally shied away from targeting developing economies as compliance costs ramp up and the industry’s appetite for risk diminishes. The result is that huge swaths of the world remain unbanked.


Still, Accenture believes there are two forces that could drive an industry shift. One is the rise of digital technology that could lower costs while expanding access. Today, more than 80 percent of retail banking customers bank online.

The second is the opportunity of inaction as competitors and non-bank entrants capture this growing market. This is most evident in the growing prominence of mobile network operators (MNOs) such as the well-documented success of M-Pesa in Kenya. As Accenture notes, “invest now or be left behind.”

Read the full Accenture reports here:

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