Only 51 percent of adults in Latin America and the Caribbean have a bank account, according to the World Bank. The rest of the population, or the unbanked, pay cash each time they go to the supermarket or pharmacy. Paying their cell phone or utility bill often means standing on a long line, making the process tedious and time consuming.
But that has been changing with financial technology companies, also known as fintech companies, which offer new options. These are startups that are providing creative alternatives to traditional banking, like using mobile phones to pay bills or for sending and receiving money. It's transforming the way businesses and consumers use financial services. READ MORE AT NBC NEWS
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