The Gender Performance Initiative (GPI) evaluates how effectively MFIs are serving women to ultimately build the business case that women are valuable customers and employees, as well as catalysts for social and economic change.
The boom in behavioral research methods means that gaining a deeper, more evidence-based understanding of how actors in a financial market behave, what incentives drive them, and what new policies or products can lead to responsible and inclusive financial systems.
We know more today than every before about how customers use financial services. But we still don’t know enough about what information customers access about products they are considering, and how this informs their financial decisions.
Disclosure and pricing transparency are important building blocks for countries looking to develop effective consumer protection regimes. They also are of particular importance for low-income populations, who often have lower levels of literacy and numeracy, and limited experience with formal financial products.
More and more policymakers are now recognizing that financial exclusion is a risk to political stability and impedes economic advancement, and that financial inclusion measures can complement, not undermine, financial stability, financial integrity, and consumer protection.
Typically, mystery shopping is associated with consumer market research. However, financial regulators - such as the Bangko Sentral ng Pilipinas - are also using it as a tool to check if financial institutions are complying with regulations.