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 at...
| Main Authors: | , |
|---|---|
| Format: | Brief |
| Language: | English |
| Published: |
2012
|
| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2012/05/16541972/structured-approach-understanding-financial-service-needs-poor-mexico http://hdl.handle.net/10986/9441 |
| id |
okr-10986-9441 |
|---|---|
| recordtype |
oai_dc |
| spelling |
okr-10986-94412021-04-23T14:02:45Z A Structured Approach to Understanding the Financial Service Needs of the Poor in Mexico Faz, Xavier Breloff, Paul 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 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. 2012-08-13T08:36:14Z 2012-08-13T08:36:14Z 2012-05 http://documents.worldbank.org/curated/en/2012/05/16541972/structured-approach-understanding-financial-service-needs-poor-mexico http://hdl.handle.net/10986/9441 English CGAP Brief CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank Publications & Research :: Brief Publications & Research Latin America & Caribbean Mexico |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English |
| topic |
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 |
| spellingShingle |
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 Faz, Xavier Breloff, Paul A Structured Approach to Understanding the Financial Service Needs of the Poor in Mexico |
| geographic_facet |
Latin America & Caribbean Mexico |
| relation |
CGAP Brief |
| description |
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. |
| format |
Publications & Research :: Brief |
| author |
Faz, Xavier Breloff, Paul |
| author_facet |
Faz, Xavier Breloff, Paul |
| author_sort |
Faz, Xavier |
| title |
A Structured Approach to Understanding the Financial Service Needs of the Poor in Mexico |
| title_short |
A Structured Approach to Understanding the Financial Service Needs of the Poor in Mexico |
| title_full |
A Structured Approach to Understanding the Financial Service Needs of the Poor in Mexico |
| title_fullStr |
A Structured Approach to Understanding the Financial Service Needs of the Poor in Mexico |
| title_full_unstemmed |
A Structured Approach to Understanding the Financial Service Needs of the Poor in Mexico |
| title_sort |
structured approach to understanding the financial service needs of the poor in mexico |
| publishDate |
2012 |
| url |
http://documents.worldbank.org/curated/en/2012/05/16541972/structured-approach-understanding-financial-service-needs-poor-mexico http://hdl.handle.net/10986/9441 |
| _version_ |
1764409367179821056 |