Despite the significant global economic and social progress achieved in the past 30 years, many countries in the developing world are grappling with financial inclusion challenges (see Appendix A). Technology-enabled strategies can address challenges such as the two billion adults who still transact on a cash basis, the 35 percent of women globally excluded from the formal financial system, and the $110 billion in tax revenue losses incurred by governments annually. Moreover, many of these economies have high levels of informality, with millions of people operating outside of formal regulations and tax structures, lacking official identification (ID), and being excluded from the financial system writ large. Regulatory challenges, weak governance, lack of access to digital infrastructure, and other structural and sociocultural barriers explain the global gaps in this space (Figure 1).