A financial sector that works for consumers has a suite of products and features that are suitable to consumers’ needs, are safe from cybercrime and that protect consumers’ privacy. Ideally, empowered consumers exercise an informed choice, understand the information disclosed to them, and have their voice heard in their interaction with financial services providers and agents.
The reality is often different. Cenfri’s consumer outcomes work aims to bridge the gap. We have worked with Consumers International, CGAP, GIZ, FSD Kenya, FSCA South Africa and the SADC Secretariat. Our track record includes policy briefs, regional consumer protection guidelines, financial inclusion measurement, measurement of consumer outcomes, and country-level consumer protection technical assistance.
We also have a significant body of work on behavioural science and its application in the financial sector.
Real-time retail payments that enable consumers to send and receive cross-border and domestic transactions digitally are on the rise globally. The increasing proliferation of QR codes, apps, tap-and-go card technology, and small-value payments using proxy identifiers (aliases) such as phone numbers and email addresses have made payments one of
Consumers face several frustrations with the potential to affect their experience of digital financial services. These include system glitches, inappropriate design, fraud, cybercrime, data breaches, opaque pricing, and more. The Digital finance: The consumer experience, 2023 report, which Cenfri developed for Consumers International, provides an assessment of the scale of
As we reflect on International Women’s Month 2020, we look back on the different things we’ve learned about women’s financial needs, and all the things we are yet to learn! Under the banner #EachForEqual, International Women’s Day 2020 drew attention to the importance of collective individualism – recognising that we
Whereas financial inclusion has seen a steady increase over the past few years, this positive trend has not necessarily taken women along. A gender gap in financial access and usage persists, and has not decreased over the years. Our efforts at understanding and closing the gender gap are hampered by
A synthesis report on what we’ve learned As we set out to understand what our financial inclusion measurement quest would be, it became apparent that it matters what you try to measure. Financial inclusion targets (percentage of adults with a bank account, say) remain valid, but they don’t tell you
Financial health is a potentially powerful concept that is attracting interest around the world. Citizens, politicians and policymakers know that effectively managing one’s financial resources – being financially healthy – is central to the success of both individuals and broad populations. If financial health is to be a useful construct,
