El proceso de inclusión financiera ha permitido la expansión de servicios financieros a cada vez más lugares enfocados en buscar el desarrollo. Desde el punto de vista económico, el sistema financiero contribuye de forma útil en la economía a través del aporte en las decisiones de ahorro e inversión de un país y su funcionalidad valida el crecimiento económico. Por ello, resulta importante que la estructura financiera sea sólida e inclusiva para ser sostenible en el tiempo, ya que en presencia de fallas de mercado pueden crearse barreras subjetivas y objetivas de acceso a la inclusión financiera. En este contexto, el presente estudio evalúa si el componente inclusión financiera influye en el crecimiento económico en presencia de cooperativas de créditos. Considerando la literatura existente sobre el vínculo entre el crecimiento económico y el sistema financiero, la investigación considera que las cooperativas tienen influencia en la medida que tienen propias particularidades sociales y funcionan como mecanismo para expandir la inclusión financiera. En ese sentido, este trabajo se basa en la teoría de inclusión financiera para comprender el rol de las cooperativas y su efecto en el crecimiento económico. / The financial inclusion process has allowed the expansion of financial services to more and more places focused on seeking development. From the economic point of view, the financial system contributes in a useful way in the economy through the report on the saving and investment decisions of a country and its valid functionality economic growth. Therefore, it is important that the financial structure is solid and inclusive to be sustainable over time, since in the presence of market failures, subjective and objective barriers to access to financial inclusion can be created. In this context, the present study evaluates whether the financial inclusion component influences economic growth in the presence of credit cooperatives. Considering the existing literature on the link between economic growth and the financial system, the research considers that cooperatives have influence to the extent that they have their own social peculiarities and mechanisms as a mechanism to expand financial inclusion. In this sense, this work is based on the theory of financial inclusion to understand the role of cooperatives and their effect on economic growth. / Trabajo de investigación

This thesis is a critical, exploratory analysis of the impacts to the banking industry in South Africa, in light of the wave of technological change and emergence, termed in popular discourse as the Fourth Industrial Revolution or 4IR. The 4IR has been argued to offer the transformative potential to change and disrupt current societal organization and provide opportunities for developing countries such as South Africa to “leapfrog” into development. Many argue that as technology advances and progresses, it can be used to address socio-economic, developmental challenges and deliver services. In the banking sector, particularly in the context of developing countries, as large portions of the population remain excluded from formal financial services, digital banking methods premised on the technologies of the 4IR have emerged as potential “solutions”. What is often understated, however, that this study highlights, is that such technological advancements hold challenges. Moreover, as they are presented as solutions to the socioeconomic difficulties of developing countries, like financial exclusion, it is important that this is understood contextually, and critically and such challenges are presented. Through primarily qualitative case studies of two banks, Standard Bank and TymeBank, the study aimed to uncover the processes of digitisation occurring as well as the social processes that underlie them. Findings show that indeed, tangible examples of “4IR”/digitisation are identified at the two banks through technical application of emerging technologies, such as cloud computing and machine learning. However, more concerning are the social processes and strategic decisions that result in and out of their adoption. The 4IR in the context of this study appears to replicate ongoing social and economic inequalities, through inadequate digital infrastructures, and omni-present interests of neoliberalism presenting as digital capitalism. Additionally, carrying concern of adverse effects to the employment and labour landscape, the 4IR is deconstructed for its rhetorical meaning which contrasts with the reality. Hegemonic representations of a 4IR and its proposed ‘transformative benefits' do not correspond with actual phenomena and risk the neglecting of fundamental social challenges that are deepened by and new ones emerging out of digitisation.

Digital Financial Services (DFS) such as mobile money apps, have become increasingly recognized as a tool to increase Financial inclusion. Access and usage of mobile money services are expected to be beneficial in more ways than one, but one desirable outcome is enabling women to have greater control over their own finances, and thus enhance Empowerment through increased participation in household decision-making. With data collected through a phone survey distributed to 189 women in Jordan, we attempt to investigate if E-wallets are effective in achieving Financial inclusion and, if we as a result, might see a positive effect on Women’s Empowerment. Impacts on Financial inclusion are measured through a description of how women use their E-wallets, along with an OLS-regression on the likelihood of saving. Empowerment effects are analyzed through a regression on different indicators meant to reflect decision-making in the household. We find some evidence that indicates that E-wallets users might be slightly more likely to have saved money in the last year, however, results regarding empowerment indicators are more unclear. When performing regressions on subsamples of unmarried women, and only employed women, we see some indications that the e-wallet might lead to an increased control of her own finances and expenditures, but this does not seem to translate significantly to other household purchases.

The purpose of this study was to explore the role of microfinance in the Sekhukhune District, Limpopo Province. The Hulme’s Impact Framework and the Capabilities Approach were used to understand the role of microfinance. A qualitative approach was used to gain an insight into the perspective of both the beneficiaries and the providers of microfinance. Semi-structured interviews were used to collect in-depth data from 30 participants from two developmental Microfinance Institutions operating in the Sekhukhune District. The results showed that Microfinance offered a variety of services, such as savings, small loans as well as business and health education, mainly to women who were interested in doing business. Loan eligibility for the institutions depended on both the ability to pay back and to save. Failure to pay back resulted in being excluded from the programme. Although loans were meant for business purpose, some clients found a way to use them for income smoothening and loan repayment. Overall, the results indicate that microfinance was used to supplement other government poverty-eradication tools such as monthly grants to the elderly and children. Moreover, microfinance is perceived by both beneficiaries and providers to bring about both economic and social capabilities. It was also revealed that, even though microfinance has some benefits, there are still some challenges faced in the industry. Beneficiaries perceived the interest rate to be satisfactory microfinance. However, the interest rates charged by the Microfinance Institutions is higher than what is charged by commercial banks. In the quest to cover operational costs, such interest rates that have left some of the poor in an unending cycle of poverty. Based on the findings, this study recommends that, the government should come up with other intervention strategies in addition to supplement microfinance. For instance, to help micro-entrepreneurs, the government could assist by building smaller shops to rent out to micro-entrepreneurs they could sell their goods. In addition, the government should build financial systems that work for the poor; create legal systems which that encourage market entry. / Economics / M. Com. (Economics)

Digital aid to increase financial inclusion in developing countries is an increasing area of interest growing together with the global expansion of mobile phone penetration. This paper analyzes technical, social and financial aspects of the possibility of digitizing Xitique, a local community-based microfinance model in rural Mozambique. The aim was to understand the technical requirements of building a GSM based application while preserving cultural importance and the native features of the Xitique savings method. Data was gathered through field studies, where technical experts and the target group, being rural women, provided extensive contributions for the thesis’ findings. The results proved substantial evidence supporting the motive of developing a Xitique application from both a social as well as economic perspective. This was supported by the expressed customer demand that, as part of the result, emanated in a prototype and sustainable Social Business Model for the Xitique application’s service / Användning av digitala hjälpmedel för att öka ekonomiska inkludering i utvecklingsländer är ett växande intresseområde som tilltar tillsammans med den globala expansionen av mobilanvändning. I denna rapport analyseras tekniska, sociala och finansiella aspekter av möjligheten att digitalisera Xitique, en lokal samhällsbaserad mikrofinansmodell på landsbygden i Moçambique. Syftet med arbetet var att förstå de tekniska kraven för en GSM-baserad applikation och hur kulturell betydelse bäst kunde bevaras genom den digitala imitationen av de existerande metoderna som används i den traditionella Xitiquen. Data samlades genom fältstudier där tekniska experter och målgruppen, kvinnor på landsbygden, gav omfattande bidrag till avhandlingens resultat. Resultatet visade att det fanns väsentliga bevis som stöder motivet att utveckla en Xitique-applikation från både ett socialt som ekonomiskt perspektiv. Detta understödjs vidare av den uttryckta efterfrågan hos kvinnorna, som en del av resultatet, ledde till en prototyp och en hållbar social affärsmodell för en Xitique-applikation.

This study examines the experiences of financially and digitally vulnerable individuals in Sweden regarding the digitization of financial services. The study aims to understand how these individuals use digital financial services and what support they believe is needed to design an inclusive financial system. The study uses phenomenology as a research strategy and collects data through semistructured interviews. Data is analyzed with thematic analysis. The results were divided into two main areas, experiences around access to digital financial services and opinions about support measures to facilitate inclusion. The interview participants indicated that access to digital financial services is good, while barriers exist to being able to use them. These barriers were, lack of adequate technology, concerns about safety and non-independent use. Respondents emphasized the need for improved information and training to understand and navigate digital financial systems. The study suggests that future research is needed to deepen the understanding regarding the role of institutions and companies in the creation of a more inclusive financial landscape.

Women entrepreneurs play increasingly important roles in job creation and sustainable economic growth in developing economies, including sub-Saharan Africa. While Nigeria has made progress in closing gender gaps in women’s employment rights, financial inclusion and access to resources remain challenges for many women who seek to start and grow businesses. Barriers to venture creation are particularly problematic for women entrepreneurs living in rural Nigeria. Yet, few studies have examined women entrepreneurs’ access to capital in the context of rural Nigeria, including the perceived value of informal lenders and government support programs. This thesis informs the literature by reporting on women entrepreneurs who own and operate retail micro-enterprises in rural, South-West Nigeria, specifically Atakunmosa West, Osun State. The study findings demonstrate the value and limitations of informal lenders, such as Ajo and Esusu, in bridging institutional voids in banking practices and technology-enabled money services. Drawing on the social feminist and resource-based theory, the study advances a conceptual model of the gendered context of financial inclusion and considers the implications for research and policy.

Philosophiae Doctor - PhD / The Fourth Industrial Revolution has provided new opportunities to tackle problems in health, education, transport and many other sectors. In the financial sector, new financial technology (FinTech) is providing new ways of tackling the problem of financial exclusion. The uptake of cell phones has enabled financial service providers (FSPs) to expand into areas where the most vulnerable have hitherto been outside the reach of the banking agency model. This has ultimately allowed previously financially excluded individuals to have access to bank accounts. Through SMACT (Social Media, Mobile, Analytics, Cloud and the Internet of Things) technologies, FSPs are able to collect new types of data such as call detail record data and mobile app data which have been leveraged globally to enable the emergence of M-Pesa in Kenya, the WeChat payments module in China and KakaoBank, South Korea’s first online-only bank. The common thread in these innovations is that these are telecommunications company-led business models that have encroached into the area of finance. Such digital disruption has happened in South Africa but little is understood about how inclusive digital financial services are in the South African context. Moreover, what are the barriers to further financial inclusion, given that South Africa has significantly high bank account uptake rates? What role can the Fourth Industrial Revolution technologies have in breaking those barriers and reaching the lower-income population that has largely been mis-sold financial products that were created for the middle to upper-income population? This study sought to investigate how the diffusion of SMACT technology has contributed to financial inclusion in the South African financial services sector. The study made use of a mixed methods approach to answer this research question. Finscope data from 2012 to 2015 was used as the data source for the quantitative section and key informant interviews as the source of data for the qualitative section. The study found that roughly 80% of adults in South Africa are financially included through formal banks. Despite the near 100% uptake rates of cell phones across all income groups, proximity to an ATM or bank branch still significantly determined whether an individual accessed formal financial services. The study also found that ATM withdrawal, store withdrawal and internet banking were infrequently utilised by lower-income adults. In terms of internet banking and digital financial services in general, financial products, especially digital credit, do not appear to be well aligned with the needs of the lower-income consumer. The mismatch of financial products and the needs of lower-income consumers is further worsened by poor financial literacy levels in South Africa, especially among lower-income consumers. The study concludes that more needs to be done to increase economic inclusion, digital inclusion and financial inclusion for the lower-income population in South Africa. While consumer protection and transparency are well covered in the regulatory and legislative framework to which FSPs by and large adhere, a more inclusive and sustainable financial sector will only exist if product fit, affordability, financial literacy and convenience issues are addressed. This should happen in an enabling environment where ICT infrastructure benefits all, interoperability of digital financial services is reached and a regulatory framework more focused on financial inclusion is in place.

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Financial inclusion has gained recognition as both a domestic and international governance objective. However, full participation in the financial sector remains an elusive goal, and a number of significant questions present themselves regarding defining the scope of financial inclusion and formulating efficacious policy to ensure access to and promoting the usage of financial services. Paramount among these questions is the relationship between the geographic aspects of retail financial markets and consumer outcomes including rates of savings and indebtedness, the types of consumer credit utilized, and levels of unbanked and underbanked populations. The central aim of this research is to address this lack of understanding by using quantitative analytical tools including geographic information systems (GIS) and spatial regression analysis to examine relationships between the uneven geography of retail financial services, mortgage lending activity, and sociodemographic variables. Four metropolitan study areas in the United States—Las Vegas, Nevada; Los Angeles, California; Miami, Florida; and Philadelphia, Pennsylvania—are examined in order to address a range of question related to the neighborhood level determinants of financial inclusion. This study will provide a foundation for improving policy solutions through contributing to the understanding of how data-driven and analytical approaches can be applied to this problem. Specifically, the following research questions are addressed: 1) How does the spatial distribution of mainstream financial institutions (banks and credit unions) and alternative financial service providers (AFSPs) contribute to financial inclusion at the neighborhood level? What is the geographic relationship between these services; and how does access to these services interact with neighborhood demographic variables and mortgage lending activity? 2) How can traditional approaches to spatial analysis of mortgage lending be improved and expanded to incorporate new spatial analysis methods and better understand how mortgage credit denial and subprime lending interact with one another, as well as with neighborhood demographic variables? Building on scholarship in the academic areas of community reinvestment, asset building, and economic geography, this research contributes a number of new insights and refinements in methodology. The results of spatial regression analyses reveal significant predictive relationships, even after controlling for sociodemographic variables and spatial clustering by using simultaneous autoregressive (SAR) models. This research is unique in its examination of the relationship between the landscape of financial services in neighborhoods and mortgage lending activity, and finds that increasing levels of subprime mortgage lending in neighborhoods is predictive of nearer distance to AFSPs. Another finding is that higher percentages of black and Latino populations in neighborhoods are predictive of nearer proximity to AFSPs and greater distances to mainstream brick-and-mortar financial institution locations. A new method is developed to address the spatial void hypothesis, the spatial relationship between mainstream financial institutions and AFSPs. The results of binary logistic regression models indicate that neighborhoods where alternative service providers are more prevalent comparatively feature lower average income levels, higher percentages of minority residents, lower levels of educational attainment, and higher levels of both mortgage application denial and subprime mortgage lending. Advances are also made in developing regression models to address relationships between sociodemographic variables and mortgage lending activity. Using SAR modeling, this study finds that mortgage purchase denial is a strong predictor of subprime lending for home purchase and refinance loans. Confirming prior research findings with a new method, the percentage of the population that is black and Latino is found to be a statistically significant predictor of mortgage purchase denial, as well as rates of subprime mortgage purchase lending. / Geography