Why Technology Is Now the Front Door to Financial Inclusion

For decades, conversations about financial inclusion focused on access to products, such as bank accounts, insurance, and retirement plans. Those remain essential building blocks of financial security. But the foundation of financial inclusion is evolving. Today, inclusion begins with access to technology.

The ability to participate in the financial system is increasingly determined by digital infrastructure, data, and platforms. The shift to digital financial services has unlocked innovation and scale, but it has also introduced a new gap. Communities and markets with strong digital access are advancing fastest, while those without risk falling further behind. 

Digital platforms can open doors, but literacy can turn access into security.

The implication is clear: Financial inclusion and access to technology are no longer separate challenges. They are inseparable.

Technology Is Reshaping Who Participates

Across the global economy, technology is transforming how individuals manage their financial lives. Mobile platforms now make it possible for people to open accounts, invest, and access benefits and protection products in ways that were difficult or impossible just a decade ago.

Artificial intelligence represents the next stage of this transformation. Used responsibly, these tools could help millions of people make better decisions about saving, investing, and protecting their income. Without intentional design, the same tools that expand access could also reinforce inequality. Algorithms trained on biased data may replicate disparities in credit access, underwriting, pricing, and financial advice. Digital platforms built without expanding connectivity or digital literacy risk excluding populations that already face barriers to financial participation. 

In simple terms, technology can widen opportunity or deepen inequality. The outcome depends on how we design, deploy, and govern these systems.

We have clear evidence that digitization drives financial inclusion. The Global Financial Inclusion Index, created by the Centre for Economics and Business Research in partnership with Principal Financial Group^®highlights that the fastest gains in inclusion occur when markets invest in digital infrastructure such as instant payments and open banking. 

Countries including Brazil, Argentina, Thailand, and South Korea illustrate how quickly progress can occur when these systems are integrated into everyday economic activity. In Brazil, for example, the instant payments platform Pix now reaches more than 170 million users, dramatically expanding access to secure and affordable financial transactions.

However, access to technology is only part of the solution. The index also underscores the importance of financial literacy in enabling individuals to fully benefit from digital financial tools. As tools become more sophisticated, understanding how to use them effectively becomes just as important as having access to them. Digital platforms can open doors, but financial literacy helps people turn opportunity into better decisions, greater resilience, and long-term financial security.

As digital access expands, a new challenge is emerging: trust in the technology enabling that access. Today, sentiment around AI often reflects more concern than confidence. While AI holds significant potential to improve financial well-being and expand opportunity, those benefits will only be realized if people trust the technology behind them.

Consumers want transparency in how their data are used. They want confidence that algorithms guiding financial recommendations are fair and responsible. And they expect financial institutions to clearly explain the value, safeguards, and protections behind the products they provide.

For organizations adopting these technologies, governance matters as much as innovation. Responsible AI requires strong oversight, disciplined data practices, and clear ethical frameworks. It also requires ongoing investment in education for those interacting with these systems every day.

Inclusion Requires Collective Action

The next phase of financial inclusion will not be defined solely by the number of accounts opened or products offered. It will be defined by whether people have the tools, knowledge, and trust they need to participate fully in an increasingly digital financial system. 

No single institution can close this digital financial gap alone. Progress requires coordinated action:

• Governments must create policy frameworks that protect consumers while enabling responsible innovation.
• Employers must connect employees with the tools and education that support long-term financial security.
• Industry and technology leaders must continue building solutions that expand access while maintaining transparency, trust, and accessibility.

We are all working towards a financially inclusive future. Technology does not change that mission. But it dramatically accelerates how we achieve it.