Microfinance Institutions and the Core Poor in Bangladesh: A Review of Their Operations

Soetan, Taiwo

doi:10.13189/aeb.2014.020103

Cited by 6 publications

(7 citation statements)

References 13 publications

(8 reference statements)

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“…Furthermore, this study provides a tentative support to the assertion that residents of urban areas experience a higher level of financial inclusion compared to residents of rural areas due to the low or limited presence of financial services providers in rural areas. While there are several other factors apart from the presence of financial services providers that may influence financial inclusion, the evidence in this study lends support to a significant relationship between presence of financial services providers and financial inclusion (Soetan, 2014). Finally, this study reiterates the role and importance of transformative service research on financial inclusion in the efforts toward the attainment of the 2030 SDGs.…”

Section: Discussion Of Findings and Conclusionsupporting

confidence: 64%

“…Customers can become financially vulnerable when they become unemployed and are unable to service their debts (De Clercg et al 2019) or when they lack access to credit facilities from financial services providers such as banks (Sashi, 2010;Soetan, 2014;Soetan, 2020;Soetan and Umukoro, 2023). Many residents in emerging and developing economies are further disadvantaged by the lack of financial services which precludes them from realizing their life"s goals and ambition (Rosenbaum et al 2017;Wayne et al 2020).…”

Section: Financial Vulnerabilitymentioning

confidence: 99%

“…1) It allows more people to engage in economic activities (Demirguc-Kunt and Klapper 2013, Soetan, 2014) which enhance their wellbeing.…”

Section: Introductionmentioning

confidence: 99%

“…It has been observed that poor, unemployed/under-employed and low status individuals are often excluded from financial services by financial service providers (Mogaji et al 2021, Soetan, 2014). These individuals rarely own a bank account and mostly operate in the informal sector of the society.…”

Section: Introductionmentioning

confidence: 99%

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Toward the Attainment of Sustainable Development Goals: The Impact of Transformative Service Research on Financial Inclusion

Soetan,

Umukoro,

Hassan

2024

IBR

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Adopting approaches of Transformative Service Research (TSR), the study explored rural and urban perspectives of Financial Inclusion, an enabler of the attainment of the 2030 Sustainable Development Goals, in an emerging economy. A cross-sectional survey was conducted in one of the largest cities in Africa with specific emphasis on an urban and a rural population. The urban sample was obtained from a major urban setting in the city while the rural sample was obtained from the outskirts of the city. Non-probability sampling methods were used to derive the study sample, which included a combination of purposive and convenient sampling. The study sample was made up of 453 participants with 46.8% of them being rural residents and 53.2% being urban residents. A structured questionnaire was utilized in eliciting relevant information from the study participants. Outcomes as depicted by an empirical framework showed that residential status had a significant main effect on access to financial inclusion services, such that rural residents had limited access to financial inclusion services; while perceived cost of financial inclusion had a significant main effect on usage of financial inclusion services, such that perceptions of high cost of perceived inclusion resulted in less usage of financial inclusion services. Based on the study outcomes, financial institutions may consider rural-urban differentials in ascribing service charges for financial inclusion services to encourage usage.

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Section: Discussion Of Findings and Conclusionsupporting

confidence: 64%

Section: Financial Vulnerabilitymentioning

confidence: 99%

“…1) It allows more people to engage in economic activities (Demirguc-Kunt and Klapper 2013, Soetan, 2014) which enhance their wellbeing.…”

Section: Introductionmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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Toward the Attainment of Sustainable Development Goals: The Impact of Transformative Service Research on Financial Inclusion

Soetan,

Umukoro,

Hassan

2024

IBR

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“…However, the provision of these services could enable them to engage in entrepreneurial initiatives, which would promote the provision of meaningful contributions to society and assist them in improving their lives (Sashi, 2012). The consulting services being provided would need to offer sound advice on which markets to invest in, the type of technology to use in enhancing financial inclusion as well as microfinance, which focuses on group lending techniques that rely on joint liability to secure repayments (Sashi, 2012; Soetan, 2014; Wayne et al , 2020). However, emerging market commercial banks often avoid FVCs because they are viewed as risky and unprofitable, with the added complications of having asymmetrical information and increased transaction costs.…”

Section: Literature Reviewmentioning

confidence: 99%

Marketing bank services to financially vulnerable customers: evidence from an emerging economy

Mogaji

Adeola

Hinson

et al. 2021

IJBM

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PurposeThis study aims to explore how banks in Nigeria are marketing financial services to financially vulnerable customers.Design/methodology/approachA multiple case study research strategy was used to analyse three commercial banks and two microfinance banks. Data were collected using semi-structured interviews with the banks' directors as well as from banks' published annual reports and archival images.FindingsThe study reveals that Nigerian banks develop different product development portfolios, adopt innovative traditional marketing schemes and apply inclusive technologies to reach and extend services to the unbanked and financially vulnerable customers in the society.Research limitations/implicationsBanks should focus on consumer engagement through the proactive development of technologies and employ innovative marketing methods. Customers' banking experiences can be enhanced if banks communicate with and educate customers about technological modes of engagement. In addition, financial service transaction support and financial literacy education can assist banks in marketing their services to financially vulnerable customers, in mutually beneficial ways.Originality/valueThis study shows how financial service operators' market and extend their services to financially vulnerable customers in emerging markets. It empirically establishes the importance of financial services to financially excluded customers.

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Financial Services Providers in Nigeria

Soetan,

Mogaji

2024

Sustainable Development Goals Series

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Microfinance Institutions and the Core Poor in Bangladesh: A Review of Their Operations

Cited by 6 publications

References 13 publications

Toward the Attainment of Sustainable Development Goals: The Impact of Transformative Service Research on Financial Inclusion

Toward the Attainment of Sustainable Development Goals: The Impact of Transformative Service Research on Financial Inclusion

Marketing bank services to financially vulnerable customers: evidence from an emerging economy

Financial Services Providers in Nigeria

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