39% of the population of Vanuatu has access to the internet in 2022.
No Open Banking
37% of adults in Vanuatu have bank accounts, leaving 63% unbanked.
According to the International Monetary Fund (IMF), Fintech could potentially allow Pacific island countries to alleviate the impact of structural impediments and persistent challenges, such as geographic remoteness and dispersion, small scale, limited infrastructure, and fragile correspondent banking relationships. Fintech solutions can complement existing efforts to promote financial inclusion, enhance financial sector development, and increase inclusive growth potential, thereby reducing poverty.