Measuring Financial Inclusion: The Global Findex Database

This paper provides the first analysis of the Global Financial Inclusion (Global Findex) Database, a new set of indicators that measure how adults in 148 economies save, borrow, make payments, and manage risk. The indicators are constructed with survey data from interviews with more than 150,000 nationally representative and randomly selected adults aged 15 and above in those 148 economies during the 2011 calendar year. The data shows that 50% of adults worldwide have an account at a formal financial institution. In addition, 22% of adults report having saved at a formal financial institution in the past 12 months, and 9% report having taken out a new loan from a bank, credit union or microfinance institution in the past year. Although half of adults around the world remain unbanked, at least 35% of them report barriers to account use that might be addressed by public policy. Findings include:

• Use of formal accounts varies widely across regions, economies, and individual characteristics;
• Removing physical, bureaucratic, and financial barriers could expand the use of formal accounts;
• Formal borrowing and insurance are relatively rare in the developing world.

See also: Global Findex WebsiteFinancial Inclusion Data PortalWorld Bank eAtlas of Financial InclusionWorld Bank Little Data Book on Financial Inclusion