Who is well placed to support financial inclusion and access over the next couple of decades? Frankly, it isn’t the banks. The largest holders of broad identity data sets today are Facebook, Apple, Tencent, Amazon, Alibaba/Alipay, Uber, Snapchat and other platforms with massive scale. Those platforms not only have basic identity data, but they often have quite sophisticated behavioural data sets along with biometric data like facial recognition, etc. It is likely that Facebook18 today has better identity information than the majority of retail banks in the world. Oh, and they are all on the
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