BusinessTelecom

Telcos Transform Into Banks For Next Two Billion Customers

Telecommunications companies across Africa and Latin America are pivoting from traditional services to banking solutions. With 2 billion new users coming online and 1.4 billion adults remaining unbanked, telcos are positioned to bridge the financial services gap through mobile technology.

Telecommunications companies are rapidly evolving into banking providers for the next two billion customers, leveraging their extensive mobile networks to deliver financial services to previously unbanked populations. This strategic shift comes as telcos face staggering customer churn rates while sitting on untapped technological potential that could revolutionize financial inclusion across developing regions.

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