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Joris Lochy

Joris Lochy

  Scott, thanks a lot for the feedback. Much appreciated. Indeed even though the list of examples I gave in the article is already quite long, this list is far from exhaustive.  A few more examples are: * Discrimination against certain minorities. Although laws exist to avoid this, we can not ignore there is an inherent (often unintentional) bias both in the automated risk algorithm and manual risk decision process. This means that certain minority groups are definitely "underbanked". * For medical insurance, obviously people with a history of cancer is not the only example. Everyone with a history of medical expenses or pre-existing conditions might be impacted. In many countries medical insurances are even more expensive for women, due to the expected medical costs associated with child birth. * Any form of non-traditional employment. In the blog I refer to freelancers and gig-workers, but obviously other non-traditional roles like e.g. artists, performers, or creatives are also impacted. * People with disabilities might need specialized financial products and services that aren't widely available or are offered at higher costs. * Language barriers for non-native speakers * Temporary Residents and people doing remote work (due to complex tax regulations) * ... Clearly the list is enormous, leading to a considerable percentage of the population being underbanked in some form.
Scott Hamilton

Scott Hamilton

  Very thorough analysis, Joris Lochy! Perhaps we can chat on further issues here, some of which we've previously explored in Finextra articles?
Sonali Patil
Blog group founder

Sonali Patil

  Thank you everyone for 1000+ views on my blog. Hope this information helped you to design cloud solutions
Hitesh Thakkar

Hitesh Thakkar

  Does this 51 million customers across 7 countries are inter-operate?

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