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

Abstract

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

Suggested Citation

Mas, Ignacio, Digitizing the Kaleidoscope of Informal Financial Practices (December 18, 2013). Journal of Business Management & Social Science Research, Vol. 3, No. 5, May 2014. Available at SSRN: https://ssrn.com/abstract=2359942 or http://dx.doi.org/10.2139/ssrn.2359942

Ignacio Mas (Contact Author)

Tufts University ( email )

Medford, MA 02155
United States

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