Digital Financial Inclusion in South East Asia

Koh, Francis; Phoon, Kok Fai; Ha, Cao Duy

doi:10.1016/b978-0-12-812282-2.00015-2

Cited by 40 publications

(34 citation statements)

References 4 publications

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“…However, whilst the notion of 'financial inclusion' focuses on 'access', a distinction needs to be made between 'access' to financial products and services, and 'usage', that is, the ways customers use the services available (Koh et al, 2017). This distinction is crucial because 'access' does not automatically translate into 'usage', as previous studies have shown (Morawczynski et al, 2010;O'Neill, Dhareshwar, and Muralidhar, 2017).…”

Section: Financial Inclusionmentioning

confidence: 99%

“…Digitization of salary payments in Afghanistan, for instance, was found to deliver immediate benefits in terms of cost savings to the employer organization, whereas the impact on recipients' financial well-being was found to be negligible (Blumenstock et al, 2015). Koh et al (2017) model the journey of building the infrastructures and providing the services for an inclusive digital economy as a four-stage, evolutionary process. In the first stage, the main objective is to provide mobile and internet connectivity to the people.…”

Section: Digital Financial Servicesmentioning

confidence: 99%

See 1 more Smart Citation

Rethinking Financial Inclusion: from Access to Autonomy

Muralidhar

Bossen

O’Neill

2019

Comput Supported Coop Work

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Financial inclusion has been defined and understood primarily in terms of access, thereby constituting 'inclusion'/'exclusion' as a binary. This paper argues such a view to be myopic that risks treating financial inclusion as an end in itself, and not as means to a larger end. 'Access' oriented perspectives also fail to take into account considerations of structural factors like power asymmetries and pay inadequate attention to user practices. Through the case of auto-rickshaw drivers in Bangalore, India, and their use of Ola, a peerto-peer taxi hailing service similar to Uber, we show that access is a necessary, but not sufficient condition to achieve financial inclusion in a substantive sense. By examining in detail, the financial needs and practices of rickshaw drivers, we identify the opportunities and constraints for digital technology to better support their financial practices and enhance their wellbeing. The paper proposes adding 'autonomy' and 'affordances' as two crucial factors to be included in the discourse on financial inclusion. Finally, we outline design implications for P2P technologies to contribute towards the financial inclusion of drivers.

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Section: Financial Inclusionmentioning

confidence: 99%

Section: Digital Financial Servicesmentioning

confidence: 99%

Rethinking Financial Inclusion: from Access to Autonomy

Muralidhar

Bossen

O’Neill

2019

Comput Supported Coop Work

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“…Nevertheless, most of these studies have been conducted from digitally advanced contexts, such as Singapore, India, China, Taiwan, or USA, where digital ecosystem is conducive to the adoption of MFS platforms (Sampaio et al, 2017;Koh et al, 2018;World Bank, 2019). In contrast, customers' digital behavior in a least developed country like Bangladesh is not as penetrated as in other neighboring, western or Southeast Asian contexts (Babar, 2017).…”

Section: Introductionmentioning

confidence: 99%

Users' attitude and intention to use mobile financial services in Bangladesh: an empirical study

Himel

Ashraf

Bappy

et al. 2021

SAJM

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PurposeWhile the usage of mobile financial services (MFSs) is increasing rapidly in developing countries, research on users' attitudes and behavioral intention to adopt MFS is limited. Thus, this study aims to investigate customers' attitudes and intentions to adopt MFS from a Bangladeshi perspective.Design/methodology/approachA mixed research design was employed to conduct this study. Data of 196 respondents were analyzed using partial least squares (PLS) path modeling. For the quantitative part, data collection was conducted using non-probability sampling through a structured survey questionnaire. A focus group discussion with ten MFS users from divergent backgrounds was conducted to validate the quantitative findings.FindingsThis paper integrated both the technology acceptance model (TAM) and innovation resistance theory (IRT) to validate the results. The authors found that perceived usefulness (PU), perceived ease of use (PEOU) and perceived trust (PT) positively contribute to customers' attitudes toward MFS adoption. Besides, barriers to acceptance had unfavorable effects on users' attitudes and usage intentions. Furthermore, a focus group discussion revealed valuable insights on the constructs used in this study.Practical implicationsThe study results have implications for both MFS providers and researchers. The outputs and recommendations presented in this paper will encourage the MFS practitioners to stimulate users' attitudes and behavioral intentions by ensuring useful, easy to use, credible and risk-free mobile payment platforms.Originality/valueThis is one of the very few studies in Bangladesh that have taken a contemporary and emerging research topic, providing theoretical, methodological and practical contributions regarding the determinants and consequences of attitude toward using MFSs.

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“…Peric, (2015) stated that the benefits of digital financial inclusion access to formal financial services by the poor people those who were financially excluded, the other benefit is that, digital financial inclusion helps to preserve the disposable incomes of the households because digital financial services and products are usually offered at a lower cost to the customer and the service provider. The use of AI also allows customers to be able to transact in irregular small amounts to assist them to manage their uneven incomes (Mhlanga, 2020a, Koh, Phoon andHa, 2018). The other benefit of digital financial services is that it helps to reduce the risks of loss, theft, and other financial crimes posed by cash-based transactions (Mhlanga, 2020a;Muneeza, Arshad and Arifin, 2018).…”

Section: 4ai and Digital Financial Inclusionmentioning

confidence: 99%

Artificial Intelligence (AI) and Poverty Reduction in the Fourth Industrial Revolution (4IR)

Mhlanga¹

2020

Preprint

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Though the share of the world population living in extreme poverty declined to 10 percent in 2015, from 16 percent in 2010 and 36 percent in 1990, data shows that the world is not on track in achieving the target of less than 3 percent of people living in extreme poverty by 2030. Hence the study sought to investigate the influence of AI on poverty reduction. Using content analysis one of the unobtrusive research techniques, the study found out that, the availability of relevant data is making AI be able to deliver value to humanity and AI has a strong influence on poverty in areas of relevant data collection through poverty maps, its ability to revolutionize agriculture, education, and the financial sector through digital financial inclusion. The study also discovered that many countries especially developing nations are not collecting as much data to identify the number of poor people and the regions where these people are located. However, the existence of AI is assisting to change this, or instance the study discovered that the research team at Stanford University is using satellite images to provide an alternative to map poverty, to identify the regions where poverty is more concentrated. Also, various robotics and AI programs such as Google and Stanford University’s Sustainability and Artificial Intelligence Lab, are coming forth with AI programs in agriculture which are doing a lot to improve farming, through the identification of diseases, prediction of crop yields, and location of areas prone to a scarcity among several other notable signs of progress in education. Therefore, the study recommends that governments, development institutions and other organizations that are striving to fight poverty to invest more in AI as well as adopting and scaling up its use as it presents benefits in the quest to ensure that poverty is reduced.

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Digital Financial Inclusion in South East Asia

Cited by 40 publications

References 4 publications

Rethinking Financial Inclusion: from Access to Autonomy

Rethinking Financial Inclusion: from Access to Autonomy

Users' attitude and intention to use mobile financial services in Bangladesh: an empirical study

Artificial Intelligence (AI) and Poverty Reduction in the Fourth Industrial Revolution (4IR)

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