Overall, 38% of surveyed fintechs served rural and remotely located customers, with a higher concentration in EMDEs (40% versus 31% in AEs). Given the inherent difficulty in serving this customer segment, it was worth examining the mechanisms used to acquire these customers. Firms reported a tendency to use more individualized and tailored approaches, such as agent networks (43%), multilingual service offerings (42%) and financial literacy programmes (31%) (Figure 24). Firms in SSA led in outreach to rural customers, employing a more diverse range of strategies than other regions. SSA fintechs cited financial literacy programmes (66%), providing services in local languages (66%), using agent networks (66%) and providing services through USSD (unstructured supplementary service data) or SMS (short message service) channels (61%) as their most popular strategies. In general, firms in EMDEs employed multiple customer acquisition mechanisms more extensively than their counterparts in AEs. At the vertical level, there was considerable variation between fintechs’ approaches to last-mile customers. Insurtechs demonstrated the highest volumes of rural customers harnessing agent networks (73%), offering services in local languages (67%), conducting financial literacy programmes (63%) and providing services through USSD or SMS (50%). In contrast, digital capital raising firms showed the least interest in reaching rural customers, likely due to lower disposable income in these areas.Mechanisms for acquiring customers in rural/remote areas FIGURE 24 Providing services through USSD** or SMS channelsServices and customer support in local languages Financial literacy programmes and workshops Other* Planning regular visits to remote areas Designing additional liquidity (cash out) support Network connectivity extensionNetwork of agents/local representatives Self-service kiosks for basic banking functions43% 42% 31% 30% 19% 19% 18% 17% 4% *Other = mobile apps, social media, referrals; **USSD = unstructured supplementary service data. 73% of insurtechs’ customers harness agent networks.Mechanisms for acquiring customers in rural or remote areas The Future of Global Fintech: From Rapid Expansion to Sustainable Growth 35

Future of Global Fintech Second Edition 2025