Behavioural interventions that advance financial inclusion

Behavioural interventions that advance financial inclusion

March 6, 2018    

“A behavioural intervention is any customer interaction that has been explicitly designed to influence the financial decision (or behaviour) of an existing or potential customer.” 

Financial service providers (FSPs) are continually looking for innovative ways in which they can design and deliver financial services to reduce cost and increase the overall value of these services to customers.

In this context, FSPs are increasingly translating new insights from behavioural science – particularly on financial decisionmaking – into practical and implementable interventions. Such interventions have proven to effectively reduce the cost of acquiring new customers, improve the retention of existing customers and reduce the occurrence of customers that use financial services but that increase the cost of providing those services.

This report, identifies the benefits of the structure for transformation, as well as the risks inherent in the structure. It finds that, to unlock the transformation potential, an explicit industry commitment is required alongside clarity on core remaining areas of regulatory uncertainty.


Download the focus note Size 829KB
Similar Articles
Behavioural interventions for financial services
We highlight key insights from our research into behavioural interventions and how they could assist financi...
What can behavioural science tell us about the financial decisions of women?
Women are significantly less likely to use formal banking services than men, due to a range of barriers to access and use. A lack of gender-disagg...
Behavioural interventions that advance financial inclusion
“A behavioural intervention is any customer interaction that has been explicitly designed to influence ...