The increase in the use of technology in the financial industry (fintech) seems to have filled the void of inaccessibility to financial services.
The advent of fintech has created a way for all entities to have access to all financial tools and services at reasonable costs.
Examples of fintech developments that have increasingly been embraced by financial users include crowdfunding, robo-advisers, digital payments, peer-to-peer (P2P) or social lending, and insurance telematics.
While these innovative services have disrupted the financial world by including more participants in the money sector, there is still an untapped portion of the world population that remain unbanked or underbanked.
To begin a career of a financial analyst, one can take the position of the analyst or assistant analyst.
Responsibilities of the analyst or assistant analyst will be to work with mathematical models (at the initial stage of introduction and data processing), the collection of information on the particular market, or to perform other simple orders of the senior staff.
A graduate or young professional, having a good training (i.e.
he/she meets all of the requirements mentioned above), can start a career of a professional financial analyst.
With little access to banks, especially in rural areas, underbanked users mostly carry out transactions in cash or checks, making them vulnerable to theft and street frauds.
Even access to bank locations for conducting transactions like cash deposit, check cashing, money order, and funds transfer may come at high costs in terms of banking fees.