Financial services providers for low-income customers typically believe that their business case is based on expanding the number of accounts or the number of transactions made by these customers. This is only part of the equation to business success.
Advances in digital technologies and the increased availability of data can be used to support low-income customers to do more than make payments. These advances can help them to make financial decisions and develop strategies to manage their finances.
Côte d’Ivoire is the largest producer and exporter of cocoa beans and cashew nuts, and a top exporter of coffee and palm oil. Nevertheless, Ivorian smallholder farmers who contribute the most to the agricultural sector are largely neglected by formal financial institutions.
Social norms can have a profound impact on financial inclusion for women because they can limit women’s ability to work outside the home, engage with male agents, or even own a phone. Knowing exactly how norms apply is critical for closing the gender financial inclusion gap.
CGAP conducted a nationally representative survey of smallholder households in Bangladesh in 2016. The survey explored the agricultural and nonagricultural activities, financial practices and interests, and challenges and aspirations of smallholder families in Bangladesh.
Generating greater value for customers is good for business. Research from a developed market context has found that customer retention leads to a decrease in operating costs, while a decrease in customer satisfaction leads to a decrease in return on investment.