But how to achieve this goal? Clearly accounts will need to add value to people’s lives to have any impact on poverty or prosperity. This can only be achieved if we understand what people value in accounts and what drives them to use them.
Interventions to rectify low usage of accounts in the past have focused on the provider lens, and on improving the environment within which accounts are available and taken up. However, while the provider is an important factor, it is ultimately the consumers’ decision-making framework that determines whether they use their accounts or not. Thus understanding this consumer lens is critical to discovering what ultimately drives usage.
This report explores what drives the usage of mobile money and bank accounts and, in looking through the consumer lens, it seeks to understand what the triggers, drivers and barriers to unlock usage are. This note includes recommendations for policymakers and providers on how to unlock usage to extend both client and firm value for sustainable inclusion.