Digitizing the Kaleidoscope of Informal Financial Practices
Journal of Business Management & Social Science Research, Vol. 3, No. 5, May 2014
12 Pages Posted: 26 Nov 2013 Last revised: 21 May 2014
Date Written: December 18, 2013
This paper contrasts the psychological and cultural richness of informal savings mechanisms with the simpler, more rigid and yet less intuitive format of digital savings products. Financial inclusion should not imply a rejection of informal financial practices but a synthesis of the informal and the digital.
Keywords: financial inclusion, microfinance, savings, financial planning, mobile money
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