Microfinance started to help reduce world poverty but, in the long run, without bank accounts it is hard for beginning entrepreneurs to really get going and to help the economy. Now that paying is possible through cellular phones, more people will have the opportunity to have a bank account and hopefully cause a decrease in poverty.

In combatting poverty, a giant informal economic system has quietly emerged in Africa. Women participate in micro-finance organizations that loan money in order to allow them to create businesses and become self-managing.

The rapid evolution of technology is continually opening new doors for how microfinance projects can be implemented, improved, and scaled. The team at ADDO A.I. sees artificial intelligence as the catalyst for both microfinance and microinsurance in the emerging markets of Asia. A.I. reduces the need for human assessments, facilitating faster pay-outs and reduced losses through predictive data, while combining information such as financial histories and social media activity with historic context data to create fair, realistic risk assessments that lead to improved credit products.

BRAC, the largest NGO in the world and one of the leaders in microfinance as an approach to combating poverty, discovered that despite its successes, microcredit did not always reach what are called the Ultra-Poor in effective, sustainable ways. So they formed partnerships and launched a new, comprehensive initiative that involves consumption support, technical and financial literacy training, and asset management to create a pathway to prosperity called the "graduation approach."