CONTENTS HIGHLIGHTS In brief 17 Executive summary Page 1 1. The limited scope of finance in emerging economies today Page 17 Millions without access to financial services 2. The power of digital to transform finance Page 31 31 3. Quantifying the benefits of digital finance Page 43 4. Capturing the opportunity Page 57 The solution is in the palm of people’s hands Focus country profiles Page 73 57 Acknowledgments Page 88 Technical appendix Page 93 Three building blocks for change Bibliography Page 107