Over 3/4ths of adults remain unbanked or underbanked

Executive Summary: Data from the World Bank Financial Inclusion Project reveals a staggering gap in global finance: 27% of adults (1.54 billion) remain completely unbanked. An additional 50% (2.82 billion) are classified as "underbanked"—operating without access to credit cards or formal lending. Despite 89% mobile phone penetration worldwide, 44% of adults still rely on cash for essential utility payments.

According to the World Bank’s Financial Inclusion Project, 27% of the world’s adults remain unbanked; while a further 50% remain underbanked, defined as an adult without a credit card. 44% of the world’s adults are still using cash to make at least one of their utility payments each month, and the largest group of unbanked adults reside in Asia Pacific - due sheerly to large population sizes in rural Asia, despite the largest portion of unbanked people reside in Africa. While there are 493 million unbanked adults in the Middle East and Africa, there are nearly twice that many - or 820 million unbanked adults in APAC. APAC also houses the most underbanked adults with 1.8 billion people living and operating without a credit card.

Regional Breakdown: Where the Unbanked Reside

While the highest percentage of unbanked individuals is found in the Middle East and Africa, the highest raw volume is concentrated in the Asia-Pacific (APAC) region due to its massive population density.

• Asia-Pacific (APAC): Houses the largest unbanked population with 820 million adults. It also leads the "underbanked" category, with 1.78 billion people operating without a credit card.

• Middle East & Africa (MEA): Has the highest concentration of financial exclusion, with 52% of adults (493 million) remaining unbanked.

• Latin America: Shows a significant reliance on physical currency, with 60% cash usage—the highest of any major global region.

The Mobile-First Opportunity

There is a profound disconnect between digital connectivity and financial inclusion. Globally, 89% of adults own a mobile phone, yet only a fraction utilize that device for formal banking. This "mobile-first" landscape represents a multi-billion dollar opportunity for fintechs to bridge the gap in regions like Europe and North America, where mobile penetration sits at 96% and 93% respectively.

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Global Financial Inclusion Stats by Region

2026 Regional Comparison: Unbanked vs. Underbanked

Region	Unbanked (%)	Unbanked (M)	Cash Usage (%)	Mobile Penetration
World Total	27%	1,546M	44%	89%
Asia-Pacific	25%	820M	59%	85%
Middle East & Africa	52%	493M	58%	83%
Latin America	35%	164M	60%	87%
Europe	8%	54M	23%	96%
North America	5%	15M	21%	93%

FAQ

How many people are unbanked in the world in 2026?

According to the World Bank, approximately 1.54 billion adults worldwide remain unbanked. This accounts for 27% of the global adult population.

What is the difference between unbanked and underbanked?

Unbanked individuals lack any account at a formal financial institution. Underbanked individuals (affecting 2.82 billion people) may have a basic account but lack access to essential financial tools like credit cards or insurance.

Which region has the most unbanked adults?

By raw numbers, the Asia-Pacific (APAC) region has the most unbanked adults with 820 million. However, by percentage, the Middle East & Africa leads with 52% of its population remaining unbanked.

What percentage of the world still uses cash for utilities?

Global statistics show that 44% of adults still use cash to pay at least one utility bill per month. This number is highest in Latin America (60%) and the Asia-Pacific (59%).

Read More: The Future of Fintech in Africa