Uncovering Barriers to Branchless Banking: A Synthesis of Consumer Capability Research in India, Malawi, Philippines, and Zambia
This synthesis report summarizes the findings from market research studies Microfinance Opportunities (MFO) carried out with customers of four branchless banking project partners: FINO in India, RBAP-MABS in the Philippines, Zoona in Zambia and Opportunity Bank Malawi in Malawi. The research findings shed light on digital literacy of low-income consumers in developing countries. The research was further used to design the content and to identify the optimal delivery channels for partner-level consumer education campaigns.
The studies assessed target consumers' existing attitudes, knowledge, skills, self-efficacy and behaviors with respect to managing their money and carrying out financial transactions using branchless banking. The research aimed at answering the following questions:
- What knowledge, skills, and attitudes do potential consumers need in order to make informed decisions on adopting and effectively carrying out financial transactions using branchless banking services and technologies?
- How could consumer education, combined with branchless banking, help low-income consumers improve their money management and facilitate their active use of financial services?