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In this episode of our series on financial technology, we sat down with Katie Macc, co-founder and chief operating officer of Juntos Global, a fintech company that serves as a bridge between financial access and financial inclusion for the world's newly banked. Kate tells us about the ways technology can help solve many of the problems facing the unbanked around the world.

Some of the key takeaways from our conversation include:

• Lack of trust is a key barrier to getting the newly banked to use their new accounts.
• For fintech products to be successful, new users need to trust the financial institution, the product itself, and their own ability to use it.
• Socioeconomic status can play a huge role in how people use fintech. The differences between users within a country can be greater than similar groups across multiple countries.
• Necessity is the mother of innovation. Fintech in emerging markets has been forced to adapt to low profit margins and information constraints. These experiences could offer insights for firms aiming to fill gaps in financial inclusion in the United States.

The views expressed are not necessarily those of the Federal Reserve Bank of San Francisco or of the Federal Reserve System.