A Structured Approach to Understanding the Financial Service Needs of the Poor in Mexico
Financial service providers have
traditionally focused more on the supply side of financial
inclusion than on the demand side. Undoubtedly, it is easier
to measure number of branches; total customers served, and
aggregated portfolios rather than attempt to get into the
messy business of poor and underserved customers'
lives, businesses, and needs. However, authors are starting
to recognize the fundamental importance of working directly
with customers to understand their financial habits and
needs, as well as the role of finance in their lives. This
brings a new perspective on the problem of financial
inclusion: a deeper understanding of demand could be key to
designing a more meaningful and sustainable offering,
particularly as authors realize how little we actually know.
The study also helped us understand the value of informal
options used today. Saving at home is easy, low cost, and
convenient. Informal credit is easily accessible from family
and friends, bears little or no interest, and has flexible
terms of repayment.
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Bibliographic Details
| Main Authors: |
Faz, Xavier,
Breloff, Paul |
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| Language: | English |
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| Published: |
2012-05
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| Subjects: | ACCESS TO CREDIT,
AGRICULTURE,
BANKS,
BASIC NEEDS,
BONDS,
BORROWING,
BUSINESS CYCLES,
BUSINESS FINANCES,
BUSINESS OPPORTUNITIES,
CREDIT OPTIONS,
DEBT,
ENTREPRENEUR,
ENTREPRENEURS,
FAMILIES,
FINANCES,
FINANCIAL ASSETS,
FINANCIAL CHALLENGES,
FINANCIAL CHOICES,
FINANCIAL INSTITUTION,
FINANCIAL INSTITUTIONS,
FINANCIAL MANAGEMENT,
FINANCIAL NEEDS,
FINANCIAL NETWORK,
FINANCIAL PRODUCTS,
FINANCIAL RELATIONSHIPS,
FINANCIAL SERVICE,
FINANCIAL SERVICE PROVIDERS,
FINANCIAL STABILITY,
FIXED INCOME,
FORM OF CREDIT,
FORMAL FINANCIAL SERVICES,
GROUPS OF PEOPLE,
HOUSEHOLD INCOME,
HOUSEHOLDS,
INCOMES,
INFORMAL CREDIT,
INFORMAL FINANCE,
INSURANCE,
INTEREST RATES,
LIQUIDITY,
MEDICAL EXPENSES,
MERCHANT,
MIDDLE-INCOME COUNTRY,
MONEY MANAGEMENT,
NEW BUSINESS,
OCCUPATIONS,
PORTFOLIO,
PORTFOLIOS,
REPAYMENT,
SAVINGS,
SAVINGS PRODUCTS,
SOCIAL NETWORKS,
SOURCE OF INCOME,
TERM CREDIT,
TRANSACTION COST, |
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| Online Access: | http://documents.worldbank.org/curated/en/2012/05/16541972/structured-approach-understanding-financial-service-needs-poor-mexico
https://hdl.handle.net/10986/9441
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