Despite the broad recognition that mobile financial services can serve as a means for “banking the unbanked” on a global basis, wide-scale adoption has yet to be achieved, according to a new report released by the World Economic Forum. To meet the financial needs of underserved populations, most countries – even those that have achieved scale with mobile money transfer – should focus on the flexibility of regulatory provisions for non-bank players, the competitiveness of market structures and the strengthening of financial literacy skills of individuals.

The Mobile Financial Services Development Report 2011 provides a comprehensive analysis of over 100 variables across 20 countries in Africa, Latin America and Asia. Developed in conjunction with The Boston Consulting Group, the report measures the critical factors necessary to achieve meaningful scale of mobile financial services and to meet the needs of billions excluded from the formal economy.

Click to read the Mobile Financial Services Development Report for 2011, which draws on work done by IMTFI researchers.