If we move away from a one-dimensional view of financial inclusion as the percentage of adults with a formal bank account, we find that formal financial services are in fact having a limited impact on people’s lives (or in some cases leaving people worse off). Insights from the MAP Global Insights series shows that for financial inclusion to deliver on its promise, a paradigm shift is required in how we think about financial inclusion. By switching the lens through which we view financial inclusion – away from providers and governments to the consumer – we start to understand why financial inclusion is in many ways not working and, importantly, what providers, policymakers and donors can do to change this.

Mapping the DNA – Using consumer insights to unlock the potential of financial inclusion (Note 6) concludes our analysis on the subject by providing an overview of the paradigm shift needed in how we think about financial inclusion as reflected in each of the preceding five notes in the series.