Hidden constraints to digital financial inclusion: the oral-literate divide

Matthews, Brett

doi:10.1080/09614524.2019.1654979

Cited by 21 publications

(14 citation statements)

References 10 publications

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“…An added challenge for the financial literacy arm, we suspect, could have been the difficulty in comprehending study materials and/or transitioning from learning to using financial services. Prior research suggests that financial inclusion services assume universal literacy and a certain degree of numerical skills, which may not always be viable, particularly in "oral cultures", where women often predominate (Matthews 2019). While prior research has, overall, seen positive trends in layered programmes with gender transformative components, there have been instances of mixed findings (Gibbs, Jacobson, and Kerr Wilson 2017).…”

Section: Discussionmentioning

confidence: 99%

A couple-based gender transformative intervention to enhance women’s participation in household decision-making: results from a cluster randomised control trial in Ibadan, Nigeria

OlaOlorun¹,

John

2021

Development in Practice

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Women's empowerment is recognised as an important strategy to foster gender equality. Its achievement requires an approach that targets normative and structural drivers of gender inequality. Nigerian women continue to face socio-economic challenges and are unable to exercise their agency within their homes. We evaluated a cluster-randomised control trial that aimed to increase women's household decision-making by working with couples in three critical areas: spousal relations; and financial and reproductive decision-making. The trend overall suggested gains in some domains of decision-making but the results were mixed. More research is needed for improved context-specific measurement of decision-making as well as programme adaptation.

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Section: Discussionmentioning

confidence: 99%

A couple-based gender transformative intervention to enhance women’s participation in household decision-making: results from a cluster randomised control trial in Ibadan, Nigeria

OlaOlorun¹,

John

2021

Development in Practice

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“…This is particularly visible amongst the "oral population," those who do not read but recognise colours and patterns. This oral population learn to use cash by recognising colours, pictures and the relative sizes of notes (Matthews, 2019). Such functionality is still under-developed in e-wallets and, therefore, affects the use of digital money (Matthews, 2019).…”

Section: Fintech Benefits and Challenges For Poverty Entrepreneursmentioning

confidence: 99%

Financial technology to address the liability of poorness? A typology of FinTech organisations

Ranabahu

2022

EJIM

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PurposeThis paper explores how financial technology (FinTech) organisations address poverty-related challenges when providing digital financial services. Employing the conceptual foundation of the liability of poorness (i.e. literacy gaps, a scarcity mindset, intense non-business pressures and a lack of financial slack), this paper explores the innovative strategies that FinTechs use to address these liabilities and promote entrepreneurship.Design/methodology/approachThe paper uses detailed case data collected from three FinTech organisations operating in one South Asian country.FindingsFinTech organisations' innovative strategies reflect a combination of “high touch” (human) vs “low touch” (digital) solutions. All the organisations simplified internal systems or procedures to accommodate customers. The degree to which the three organisations adopted each of the identified strategies shows an emerging typology of FinTechs; that is, innovators with high digital interactions, a mix of digital-human interactions and high human interactions.Research limitations/implicationsThe paper develops a typology which categorises FinTech innovative strategies. The typology highlights strategies pro-poor FinTechs use and explains the types of entrepreneurial support innovative organisations provide for their customers. Both the typology and the innovative strategies contribute to enhanced financial inclusion and entrepreneurial promotion amongst the poor.Originality/valueThe originality of the paper comes from its focus on FinTechs' innovative pro-poor strategies. Existing studies typically address the technology-side of innovations. In contrast, this paper combines innovative strategies with the liability of poorness to identify issues associated with financial inclusion.

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“…Financial numeracy requires the ability to recognize numbers, input these numbers, place value on large numbers, do simple calculations and have an idea of time. People who do not have numeric literacy do not have the capacity or the incentives to use digital wallets, and they need “Oral intelligence Management” (Matthews, 2019). One solution for this would be developing and combining data analysis on user experience with assistive technology through smartphones.…”

Section: Opportunitiesmentioning

confidence: 99%

Artificial intelligence and fintech: An overview of opportunities and risks for banking, investments, and microfinance

2021

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Artificial Intelligence (AI) is creating a rush of opportunities in the financial sector, but financial organizations need to be aware of the risks inherent in the use of this technology. Financial organizations are integrating AI in their operations: in-house, outsourced, or ecosystem-based. The growth of AI-based fintech firms has encouraged several mergers and acquisitions among financial service providers and wealth managers as they grapple with volatility, uncertainty, complexity, and ambiguity. AI's unique promise of combined cost reduction and increased differentiation makes it generally attractive across the board. However, perhaps other than fraud detection, these benefits depend on the scale of an organization. Risk arises from nonrepresentative data, bias inherent in representative data, choice of algorithms, and human decisions, based on their AI interpretations (and whether humans are involved at all once AI has been unleashed). Risk reduction requires a vigilant division of labour between AI and humans for the foreseeable future.

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Hidden constraints to digital financial inclusion: the oral-literate divide

Cited by 21 publications

References 10 publications

A couple-based gender transformative intervention to enhance women’s participation in household decision-making: results from a cluster randomised control trial in Ibadan, Nigeria

A couple-based gender transformative intervention to enhance women’s participation in household decision-making: results from a cluster randomised control trial in Ibadan, Nigeria

Financial technology to address the liability of poorness? A typology of FinTech organisations

Artificial intelligence and fintech: An overview of opportunities and risks for banking, investments, and microfinance

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