Learning from the popularity of local financial service providers

Learning from the popularity of local financial service providers

26 February, 2016    

In the six countries featured in the MAP Global Insights series, informal financial services persist despite an explicit push both globally and within the countries to migrate consumers towards formal financial services. Whilst it is increasingly acknowledged that informal services often offer benefits that formal services do not (such as accepting collateral like gold or jewellery or providing more flexible terms), the persistence of informality is still commonly attributed to people having little to no alternative.


Homefield advantage – learning from the popularity of local financial services providers (Note 3) reports that the widespread use of informal financial services has less to do with the fact that they are informal than with the value that clients derive from the local nature of such services.

Download the note Size 1mb



Similar Articles
Impact of remittances for recovery and resilience through digital and financial inclusion
In 2021, migrants’ remittance flows to low- and middle-income countries (LMICs) reached US$540 billion, onl...
Risks, harms and opportunities in data-driven technology for financial inclusion
How can data and data-driven technologies impact financial inclusion efforts in Africa? ...
Regulatory adaptation: The changing role of financial sector regulators
Considering the changing role of financial regulators and responses to innovation Inno...
Guidance for policymakers on financial health
The UNSGSA Financial Health Working Group (FHWG) was convened by HM Queen Máxima of the Netherlands, the United Nations Secretary-General’s Spec...