The phrase "access to basic financial services" is correct and usable in written English.
You can use it when discussing the availability or provision of essential financial services to individuals or communities, particularly in contexts related to economic development or social equity.
Example: "Ensuring access to basic financial services is crucial for empowering low-income families and promoting financial inclusion."
Alternatives: "availability of essential financial services" or "entry to fundamental financial services".
Microfinance institutions aim to reach the two billion people who lack access to basic financial services.
This means that they do not have access to basic financial services, such as savings, bank accounts, or credit.
Estimates suggest that 2 billion people globally do not have access to basic financial services, making it harder, if not impossible, for them to save for the future or invest in their own businesses and communities.
CGAP estimates that worldwide, nearly 1 billion people still lack access to basic financial services, and Isern expects new and existing microfinance institutions to continue to build their capacity to reach those potential clients.
"The alternative to today's news - the loss or the joint award of the contract - would have undoubtedly resulted in at least 3,000 unplanned post office closures, decimating the national network as sub-postmasters are forced out of business through loss of income and significantly reducing vulnerable customers' access to basic financial services.
Though, access to basic financial services, such as saving, credit and insurance do not necessarily allow people to move swiftly out of poverty, they do provide tools with which to manage risk and avoid the downward spirals that can occur when disaster strikes and that in itself is a reason why such services should be available to all who wish to use them.
The proliferation of new mobile and online financial services, such as e-banking, money transfers, and payment processing has the potential to provide access to basic financial products and services to financially excluded people.
Part of the disadvantaged and low-income segments of global population is left without (i.e. financially excluded) or very limited access (i.e. financially underserved) to basic financial services, creating a highly critical equality deficit in different parts of the world.
About half of the world's population is "unbanked", without access to the basic financial services you need.
What he described as "financial inclusion," or allowing those without formal bank accounts to access basic financial services, is transforming national economies.
Southeast Asian ride-hailing platform Grab bought Kudo earlier this year as a way to get its customers access to basic digital financial services, and Ola built out a standalone app for the same reason.
