Gig Platforms and Financial Inclusion

Across emerging markets, millions of informal workers are joining gig platforms in sectors like ride-hailing and deliveries. Amidst welcome scrutiny towards fair and sustainable gig work, this growth trajectory will continue as informal work is increasingly digitally mediated and gig platforms become a significant source of income for low-income segments globally. 

Workers joining platforms in emerging markets like India, Kenya and Indonesia are often taking their first steps into a digitized, formal work identity. They get paid into digital accounts and generate reams of data on the quantity, regularity, and quality of their work. But most workers are financially excluded so offering them financial services via platform can help solve long-sustaining challenges in financial inclusion. In all, the rise of digitally intermediated work is a unique opportunity for the financial inclusion of informal worker.

CGAP’s 3-year engagement with platforms and fintechs and direct research with gig workers offers a glimpse into what the future could look like.