Millions lack access to basic banking, facing barriers like cost, ID requirements, distance and mistrust. This piece explains who the unbanked are, why exclusion persists and what innovations can bridge the gap.
The perception paradox in wealth assessment suggests that individuals’ self-proclaimed economic status often differs significantly from objective measures of wealth. Research indicates that many individuals who identify as “poor” actually possess substantial assets and financial resources, challenging traditional notions of poverty and wealth distribution. This phenomenon highlights the complexity of economic inequality and underscores the need for nuanced approaches to understanding socioeconomic disparities.
Despite facing financial challenges, a sizeable portion of individuals underestimate their economic standing. Studies reveal that many who self-identify as “poor” actually fall within the top 10% of global income earners. This disparity highlights the subjective nature of wealth perception and the need for a more nuanced understanding of economic well-being.