[gexla]

> When people are asked why they remain on the fringe of the existing financial system, those who remain “unbanked” point to not having sufficient funds, high and unpredictable fees, banks being too far away, and lacking the necessary documentation.

Unfortunately the reality of being "unbanked" is that government regulations will still put up a barrier. KYC laws require "necessary documentation" which these big providers won't be able to get past. Local options may still be better in these cases.

For example, people who were born stateless may not be able to easily acquire KYC documentation. They may not have documentation of being born. Being locked out of ID options puts a limitation on getting past KYC.

In the Philippines, there are mobile options where you can deal with small amounts of money without having to verify your identity. These options are run by the major telco's here.