With the support of
This report is produced under the International Partnership Programme (IPP) at the UK Space Agency. IPP uses the UK Space sector’s research and innovation strengths to deliver sustainable, economic, and societal benefits to developing countries.
This report outlines why and how the space industry has a role to play in addressing challenges within the finance sector in developing countries. The unique benefit that space solutions offer is global, repeatable, scalable data that can deliver high-value insights about the Earth, especially on developing countries where existing data and insight are limited. There are several organizations using space technology, in particular Earth Observation (EO) and Global Navigation Satellite System (GNSS), to enable greater access to financial services. For this report Caribou interviewed eight organizations (five from IPP and three external to IPP) and conducted a literature review on the applications of space technology in the finance sector today.
Space technology for financial services is comparatively new. Its full potential is being explored and tested, but it is clear that space technology offers advantages in areas where other sources of information are limited. The examples presented by IPP and other organizations in this report provide a perspective and a path forward to leveraging space technology in financial services.
