Financial inclusion: perceptions of visually impaired older Nigerians

2018 ◽  
Vol 12 (1) ◽  
pp. 10-21
Author(s):  
Patrick Emeka Okonji ◽  
Darlington Chukwunalu Ogwezzy
Keyword(s):  
Older People ◽  
Financial Services ◽  
Visually Impaired ◽  
Rapid Evolution ◽  
Financial Inclusion ◽  
Vision Impairment ◽  
Digital Inclusion ◽  
Content Type ◽  
Southwest Nigeria ◽  
Qualitative Data Analysis Software

Purpose The purpose of this paper is to explore areas of challenge in managing personal finances among visually impaired older people, with critical appraisal of current structures available in financial institutions for equal access to financial services. The paper intends to create understanding of the drawbacks to financial inclusion from the perspectives and experiences of older people with vision impairment in Nigeria as well as highlighting areas where support is/are needed to tackle digital exclusion. Design/methodology/approach This study employed a qualitative approach, interviewing 30 visually impaired older adults, aged 60 years and over. Participants were drawn from a voluntary organisation for people living with vision impairment in Southwest Nigeria. Interview data were transcribed verbatim and analysed thematically using qualitative data analysis software – NVivo (version 11). Findings Results provide clear insight on the nature of the challenges faced by visually impaired older people, particularly with managing finances on computer-enabled platforms. The findings also revealed fears and hopes of this group about the rapid evolution of technologies for managing finances. Originality/value The study critically explored an understudied population, showing peculiar challenges and made a case for inclusive designs that are useful for digital inclusion of this population.

Quality financial inclusion and its determinants in South Africa: evidence from survey data

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kudakwashe Joshua Chipunza ◽  
Ashenafi Fanta
Keyword(s):  
South Africa ◽  
Survey Data ◽  
Financial Services ◽  
Ordinary Least Squares ◽  
Financial Inclusion ◽  
Least Squares Regression ◽  
Content Type ◽  
Demographic Groups ◽  
Financial Products ◽  
Data Limitations

PurposeThe study measured quality financial inclusion, a more comprehensive measure of financial inclusion, and examined its determinants at a consumer level in South Africa.Design/methodology/approachThis study leveraged on FinScope 2015 survey data to compute a quality financial inclusion index using polychoric principal component analysis. Subsequently, a heteroscedasticity consistent ordinary least squares regression model was employed to assess determinants of quality financial inclusion.FindingsThe empirical findings indicated that gender, education, financial literacy, income, location and geographical proximity determine quality financial inclusion. These findings could inform policymakers and financial services providers on how quality financial inclusion can be promoted through tailoring financial products for various socio-demographic groups.Research limitations/implicationsDue to data limitations, the study was confined to South Africa and did not capture digital financial inclusion. Hence, future studies could replicate the study in Sub-Saharan Africa's context and compute an index that captures digital financial inclusion.Practical implicationsThese findings could inform policymakers and financial services providers on how quality financial inclusion can be promoted through tailoring financial products for various socio-demographic groups.Originality/valueThis study proposed a more comprehensive measure of quality financial inclusion from a demand-side perspective by accounting for important dimensions that include diversity, affordability, appropriateness and flexibility of financial products and services.

Building blocks of financial inclusion through customer experience value at financial touchpoints in Southern Africa

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nkosinathi Sithole ◽  
Gillian Sullivan Mort ◽  
Clare D'Souza
Keyword(s):  
Southern Africa ◽  
Low Income ◽  
Financial Services ◽  
Building Blocks ◽  
Customer Experience ◽  
The Body ◽  
Financial Inclusion ◽  
Structured Interviews ◽  
Content Type ◽  
Low Income Consumers

PurposeThis paper aims to examine customer experience value orchestrated by non-banks' financial touchpoints to understand how they enhance the financial inclusion of low-income consumers.Design/methodology/approachTwo independent but related studies were conducted using qualitative comparative analyses (QCA) research design with semi-structured interviews to compare and contrast customer experience value at two rural locations in Southern Africa. The interview transcripts were analysed using ATLAS.ti, which is a powerful operating system for analysing qualitative data.FindingsThe results indicate that non-banks in the two countries design financial services that include functional, economic, humanic, social and mechanic customer experience value dimensions.Research limitations/implicationsThe data for this study was collected from financial services customers of retailers and mobile phone network operators in only one research setting in each country. Further research could extend the comparative context for qualitative studies across similar markets. Other limitations are discussed in the paper.Originality/valueThis paper contributes to the body of knowledge by highlighting the salient and germane dimensions and components found to be important in understanding financial inclusion using customer experience value. To the best of the authors’ knowledge, this is the first study that incorporates customer experience value dimensions in understanding the financial inclusion of low-income consumers at the base of the social and economic pyramid in emerging markets.

Turning on the township: financial inclusion in South Africa

2019 ◽  
Vol 31 (3) ◽  
pp. 420-446
Author(s):  
Louise Whittaker ◽  
Graunt Kruger
Keyword(s):  
Financial Services ◽  
Service Providers ◽  
Financial Inclusion ◽  
Subject Position ◽  
Sub Saharan Africa ◽  
Content Type ◽  
Strategic Actions ◽  
Starting Point ◽  
Sub Saharan ◽  
Economic Engagement

Purpose The purpose of this paper is to explore practitioner and academic conceptualisations about what drives individuals (who are the target of financial inclusion efforts) to adopt and use financial services. It compares this with individual’s personal subjectivities to understand how the similarities and differences might contribute to problems in financial inclusion efforts. Design/methodology/approach To uncover such conceptualisations, a Foucauldian discourse analysis of three texts is conducted. Findings The analysis uncovers the ways in which financial subjects are produced. Important points of discontinuity are evident between texts, pointing to potential failures within financial inclusion constructs. Distilling aspects of continuity between texts shows up three kinds of subjects produced predicated on the site of economic engagement as owners of bodies, tangible property and intangible property. These subjects are shown to all share concerns with income and expense management. The analysis shows that subject positions and strategic actions (including the use of financial service providers) are mutually reinforcing, and that therefore financial subjects will engage only to the extent that the product or service enacts their subject position. With the financial subject as the starting point, it is possible to understand the use or rejection of particular financial products and services. Research limitations/implications Asset building is proposed as a field of activity not currently considered part of mainstream financial inclusion, questioning the terms on which individuals are to be financially “included”. Originality/value Approximately 2 billion people globally, and 66 per cent of adults in sub-Saharan Africa, are excluded from the formal financial system. While financial inclusion is considered beneficial, many projects face significant challenges. This suggests insufficient understanding of what drives individuals to adopt and use financial services. This paper makes a contribution by exploring the gap between academics, practitioners and individuals using a method that has not previously been applied in this field, and uncovering differences in understanding that have not previously been explored. The insights into financial inclusion in provided in this paper are original in the literature.

Systematized literature review on financial inclusion and exclusion in developed countries

2019 ◽  
Vol 38 (3) ◽  
pp. 600-626 ◽  
Author(s):  
Beatriz Fernández-Olit ◽  
José María Martín Martín ◽  
Eva Porras González
Keyword(s):  
Literature Review ◽  
Financial Services ◽  
Meta Analysis ◽  
Developed Countries ◽  
The Body ◽  
Financial Inclusion ◽  
Vulnerable Groups ◽  
Theoretical Frameworks ◽  
Content Type ◽  
The Impact

Purpose The purpose of this paper is to provide a systematic literature review of the research published on financial inclusion (FI) and financial exclusion (FE) in developed countries using key terms and strict inclusion and exclusion criteria. Design/methodology/approach In total, 52 papers were deemed to be relevant to the analysis. These works were critiqued using a framework that addressed geographical contexts, topics, methodologies and theoretical frameworks. Findings This review highlights the uneven level of development of the academic debate between North America, the UK and continental Europe, and identifies the different theoretical frameworks that construe the body of literature in each region. In addition, the findings show the scant offer of work on the impact that the digital economy has on FE, as well as the reduced number of studies which have focused on certain vulnerable groups and the access to some financial services. Social implications The studies reviewed have not analyzed the specific needs of vulnerable groups while considering the different contexts and pathways to exclusion. The evaluation of solutions and strategies to achieve inclusion is one of the least addressed aspects in the literature. Originality/value The paper synthesizes the main contributions of the top literature on the redefinition of FI/FE in developed countries, the role of fringe services and new determinants of exclusion. The proliferation of studies regarding FI in low- and middle-income countries has generated a great amount of meta-analysis and systematized reviews of asymmetric results. However, no systematized literature review on the broad scope of FI/FE in developed countries has been published in the last decade. This work sheds light over poorly analyzed areas of research that refer to notable social problems.

Factors impacting the adoption of m-banking: understanding brand India’s potential for financial inclusion

2017 ◽  
Vol 11 (1) ◽  
pp. 22-40 ◽  
Author(s):  
Madhurima Deb ◽  
Aarti Agrawal
Keyword(s):  
Financial Services ◽  
Secondary Data ◽  
Cost Effective ◽  
Perceived Usefulness ◽  
Financial Inclusion ◽  
Content Type ◽  
Personal Innovativeness ◽  
The Future ◽  
The Government ◽  
Digital Channels

Purpose The purpose of this study has been to understand brand India’s potential for financial inclusion in the future. As, digital channels like mobile banking (m-banking) are likely to provide better coverage and more cost-effective services to the unbanked population of India. Conventional banking might not be cost-effective for low-ticket-size transactions, hence financial inclusion, which is on the “Digital India” agenda of the Government of India (GoI), might not be feasible. However, to understand brand India’s potential for financial inclusion in the future, it would be essential to understand Indian customers’ attitudes toward m-banking, especially those who have not yet adopted it. This would bring out the potential of m-banking as a channel to drive financial inclusion based on customers’ intentions to adopt it. Until every Indian has access to a wider range of financial services, there cannot be financial inclusion. Similarly, until every Indian adopts digital channels to access a wider range of financial and non-financial services, the GoI’s initiatives for “Digital India” cannot be realized. Furthermore, a review of the literature suggests that there are very few studies concerning m-banking worldwide and still fewer in the context of India. Design/methodology/approach The present study used IBM SPSS and Amos software to test the conceptual model developed using secondary data. Findings The findings of the study suggest that subjective norm, output quality and personal innovativeness have impacts on the perceived usefulness of, and attitudes toward, the ultimate adoption of m-banking. Originality/value The paper is the original work of the authors. An attempt has been made to integrate all the existing literature on m-banking to develop a complete model for the technology’s adoption.

scholarly journals Ageing, Vision Impairment and Digital Inclusion in Ireland

2012 ◽  
Vol 8 (1) ◽  
Author(s):  
Blaithin Anna Mary Gallagher ◽  
Emma Murphy ◽  
Antoinette Fennell
Keyword(s):  
Older Adults ◽  
High Risk ◽  
Older People ◽  
Digital Divide ◽  
Economic Life ◽  
Vision Impairment ◽  
Digital Inclusion ◽  
Digital Revolution ◽  
Ict Competence ◽  
Highly Correlated

Our population is ageing. Vision impairment is highly correlated with ageing and the population of older people with vision impairment is increasing. ICT competence is essential to fully partake in society. Older people, in particular those with vision impairment, are at a high risk of being excluded from the digital revolution and must be ecnourage to use ICT's. This paper outlines four projects in which NCBI has been involved in relation to older adults and digital inclusion. Improving access to ICT for older people with vision impairment will enhance their participation in social, cultural and economic life and bridge the digital divide.

Improving productivity among smallholder farmers in Ghana: does financial inclusion matter?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
James Atta Peprah ◽  
Isaac Koomson ◽  
Joshua Sebu ◽  
Bukari Chei
Keyword(s):  
Financial Services ◽  
Smallholder Farmers ◽  
Agricultural Productivity ◽  
Financial Inclusion ◽  
Living Standard ◽  
Content Type ◽  
Access To Credit ◽  
Pooled Data ◽  
Financial Products ◽  
Practical Implications

PurposeDoes financial inclusion matter for productivity among smallholder farmers? The authors answer this question by using the sixth and seventh rounds of the Ghana Living Standard Survey to examine the extent to which financial inclusion affects productivity among smallholder farmers in Ghana.Design/methodology/approachThe study uses a pooled data of the 6th and 7th rounds of the Ghana Living Standard Survey which are national representative data. The authors model an Instrumental Variable (IV) to correct for endogeneity in financial inclusion and a dominance analysis to examine the effects of access to credit, ownership of savings account and insurance product on farmers' productivity.FindingsResults from the study indicate that financial inclusion significantly enhances productivity. Moreover, credit, savings and insurance products influence productivity at various degrees. Thus, expanding the scope of financial services (access to credit, savings and insurance) among smallholder farmers is crucial for inclusive finance and sustainable agricultural production.Practical implicationsThe findings of the study have implications for financial institutions in the design of financial products that the meet the needs of smallholder farmers.Originality/valueSeveral studies have looked at how access to credit influences agricultural productivity in Africa. However, in recent times financial inclusion has been advocated for because it goes beyond mere access to credit. This paper to the best of our knowledge is the first of its kind to examine how financial inclusion could affect agricultural productivity in Ghana.

Mobile money adoption and usage and financial inclusion: mediating effect of digital consumer protection

2020 ◽  
Vol 22 (3) ◽  
pp. 157-176
Author(s):  
George Okello Candiya Bongomin ◽  
Joseph Mpeera Ntayi
Keyword(s):  
Consumer Protection ◽  
Financial Services ◽  
Structural Equation ◽  
Partial Least Square ◽  
Financial Inclusion ◽  
Least Square ◽  
Mediating Effect ◽  
Content Type ◽  
Mobile Money ◽  
The Relationship

Purpose Drawing from the argument that mobile money services have a significant potential to provide a wide range of affordable, convenient and secure financial services, there have been rampant frauds on consumers of financial products over the digital financial platform. Thus, this study aims to establish the mediating effect of digital consumer protection in the relationship between mobile money adoption and usage and financial inclusion with data collected from micro small and medium enterprises (MSMEs) in northern Uganda. Design/methodology/approach To achieve the main objective of this study, a research model was developed to test for the mediating effect of digital consumer protection in the relationship between mobile money adoption and usage and financial inclusion. The data were collected from MSMEs and structural equation modelling in partial least square (PLS) combined with bootstrap was applied to analyze and test the hypotheses of this study. The direct and indirect effect of mobile money adoption and usage on financial inclusion was tested through digital consumer protection as a mediator variable. Findings The findings from the PLS-structural equation modelling (SEM) showed that mobile money adoption and usage has both direct and indirect effect on financial inclusion. Moreover, financial inclusion is influenced by both mobile money adoption and usage and digital consumer protection. Research limitations/implications The study used partial least square (PLS-SEM) combined with bootstrap confidence intervals through a formative approach to establish the mediating effect of the mediator variable. Hence, it ignored the use of covariance-based SEM and the MedGraph programme. Furthermore, data were collected from samples located in Gulu district, northern Uganda and specifically from MSMEs. This limits generalization of the study findings to other population who also use mobile money services. Practical implications Promoters of digital financial services, managers of telecommunication companies, and financial inclusion advocates should consider strengthening the existing digital consumer protection laws on the mobile money platform. A collaborative approach between the mobile network operators, financial institutions and regulators should tighten the existing laws against mobile money fraudsters and an efficient mechanism for recourse, compensation and remedy should be set up to benefit the victims of frauds and cybercrime on the Fintech ecosystem. Originality/value The current study gives a useful insight into the critical mediating role of digital consumer protection as a cushion for promoting financial inclusion through mobile phones over the Fintech that face great threat and risk from cyber insecurity.

Financial self-efficacy: a determinant of financial inclusion

2017 ◽  
Vol 35 (3) ◽  
pp. 338-353 ◽  
Author(s):  
Rachel Mindra ◽  
Musa Moya ◽  
Linda Tia Zuze ◽  
Odongo Kodongo
Keyword(s):  
Financial Services ◽  
Self Efficacy ◽  
Structural Equation ◽  
Structural Equation Models ◽  
Service Providers ◽  
Financial Service ◽  
Financial Inclusion ◽  
Financial Behavior ◽  
Cross Sectional ◽  
Content Type

Purpose The purpose of this paper is to examine the relationship between financial self-efficacy (FSE) and financial inclusion (FI) among individual financial consumers in Uganda. Design/methodology/approach Using a quantitative approach and cross-sectional research design, a sample of 400 individuals from urban Central and rural Northern Uganda was drawn. SPSS and AMOS™ 21, regression analysis and structural equation models were used to establish the hypothesized relationship between FSE and FI. Findings The results suggest a strong positive and significant relationship between FSE and FI. The results further suggest that other variables which were controlled for, such as age and gender, had significant influence on an individual’s usage of formal financial services. Research limitations/implications The study was assessed using both potential and actual consumers of financial services collectively. However, if separately assessed, possibly there would be a variation in behavioral responses toward FI. Practical implications Formal financial service providers need to enhance individuals’ levels of confidence in management of finances and utilization of formal financial products and services, so that the financial consumers can realize the changes in financial behavior and consequently FI. Social implications The enhancement of individuals’ level of confidence in evaluating the available financial service options will guide them to take financial decisions that will improve their livelihood. Originality/value The results contribute toward the limited empirical and theoretical evidence for FSE and FI from a behavioral demand-side perspective.

Financial self-efficacy: a mediator in advancing financial inclusion

2017 ◽  
Vol 36 (2) ◽  
pp. 128-149 ◽  
Author(s):  
Rachel Mindra ◽  
Musa Moya
Keyword(s):  
Financial Literacy ◽  
Financial Services ◽  
Self Efficacy ◽  
Structural Equation ◽  
Structural Equation Models ◽  
Financial Inclusion ◽  
Mediating Effect ◽  
Mediation Effects ◽  
Content Type ◽  
The Relationship

Purpose The purpose of this paper is to examine the mediating effect of financial self-efficacy (FSE) on the relationship between financial attitude, financial literacy and financial inclusion (FI) among individuals in Uganda. Design/methodology/approach Using a quantitative approach and cross-sectional research design, a sample of 400 individuals from urban Central and rural Northern Uganda was drawn. Using SPSS and AMOS™ 21, structural equation models and bootstrapping methods were used to establish the hypothesized relationships and mediation effects between financial attitude, financial literacy and FI. Findings The results suggested FSE as a mediator of the relationship between financial attitude, financial literacy and FI. Further, there was a significant and insignificant relationship between financial literacy, financial attitude and FI, respectively. Research limitations/implications The study was assessed using both potential and actual consumers of financial services collectively. However if separately assessed, possibly there would be a variation in perceptions or behavioural responses towards FI. Practical implications There is a need to develop and sustain high levels of financial confidence among individuals to enable them use formal financial services. Social implications Possession of financial knowledge, skills, an evaluative judgement with high levels of financial confidence enable individuals make financial decisions that improve their integration into the formal financial system and improved welfare. Originality/value The results contribute towards the limited empirical and theoretical evidence regarding the mediating role of FSE in explaining the financial behaviour.

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