The migrant and their unbanked families in emerging and frontier markets have been
suppressed for the longest time without any access to basic services, financial or
otherwise. About 2.4 billion poor people worldwide are often excluded from free
movement, basic rights which often leads them to corruption, crime, including slavery,
human trafficking and in extreme cases, death.
Banks, financial institutions and even local financiers do not participate in these markets
because they are not able to adequately assess price risks. Lack of reliable identification
systems, financial data, unreliable intermediaries, zero credit history and unpredictable
legal systems further limit the capital available for financial inclusion at grassroots. This
uncertainty and severely limited access to financing and other financial products
cripples’ individuals, micro entrepreneurs, small businesses, stymies growth and
entrenches poverty. LALA World is all set to change that.