The relationship between vulnerable financial consumers and banking institutions. A qualitative study in Spain
Autor: | Beatriz Fernández-Olit, Juan Diego Paredes-Gázquez, Marta de la Cuesta-González, Cristina Ruza |
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Rok vydání: | 2021 |
Předmět: |
Finance
Financial inclusion Sociology and Political Science Poverty business.industry 05 social sciences 0211 other engineering and technologies 0507 social and economic geography 021107 urban & regional planning 02 engineering and technology Focus group Social exclusion Financialization Business Underbanked 050703 geography Financial services Qualitative research |
Zdroj: | Geoforum. 119:163-176 |
ISSN: | 0016-7185 |
DOI: | 10.1016/j.geoforum.2021.01.006 |
Popis: | The financial exclusion phenomenon has been approached from different perspectives. After reviewing the recent literature, we adopt a financial ecology approach and propose a comprehensive framework to analyse the different types of difficulties (access, use and perception) that vulnerable financial consumers face in relationships with banking institutions as well as their underlying causes. We consider financial inclusion as the sustainable provision of financial services and products and an adjustment to individual needs. We examine a special group of urban vulnerable consumers: underbanked people facing poverty and social exclusion. Data were obtained from focus groups and were coded and analysed using qualitative data analysis software. The results show that use difficulties predominate, followed by perception difficulties. Bank pressure and lack of financial training stood out among the main causes of these financial difficulties. We conclude that poorer neighbourhoods constitute a distinctive financial ecology produced by the ‘discrimination’ of a significant number of their inhabitants in the use of mainstream financial services. The study provides evidence of the socio-spatial nature of the exclusion process and calls for further research on the role of policy responses to restrict abusive practices. |
Databáze: | OpenAIRE |
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