Anderloni New Frontiers in Banking Services

Emerging Needs and Tailored Products for Untapped Markets
1. Auflage 2007
ISBN: 978-3-540-46498-3
Verlag: Springer-Verlag
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 378 Seiten

This book is devoted to an issue that is the subject of growing interest amongst policy makers, financial providers and academics. That issue is the problem of unbanking or underbanking in developed countries. The issue has arisen because, faced with an ever more sophisticated and efficient financial system, an increasing number of people have found themselves in danger of being excluded from it. The goal of the papers that follow is to draw attention, both through a theoretical framework and through field study, to the need for banks, financial institutions, public authorities and non profit associations to increase their efforts to understand the process of financial exclusion, so that they can develop approaches to help people on low to moderate incomes to gain access to the whole range of financial services, from payment to savings, and from loans to investment. Some farsighted banks and financial institutions have already developed strategies, and introduced new products and services, to promote financial inclusion in these untapped markets. The research group is international and multi-disciplinary. The authors are grateful to the Italian Ministry for University Research (MIUR) for financial assistance provided under the “PRIN 2003” programme. The volume has been produced thanks to support from the University of Valle d’Aosta – Université de la Vallée d’Aoste (Italy), which has an leading reputation for encouraging research on financial innovation aimed at marginalised groups.

Autoren/Hrsg.

Anderloni, Luisa

Inhaltsverzeichnis

1;Preface;5
2;List of Contributions;6
3;Contents;8
4;Introduction;12
5;Part I;14
5.1;1 Access to Bank Accounts and Payment Services;15
5.1.1;1.1 Introduction: Financial Exclusion;15
5.1.2;1.2 Interests, Concerns and Possible Solutions;21
5.1.3;1.3 The Issue of Measurement and Comparative Analysis;40
5.1.4;1.4 Types of Response;45
5.1.5;1.5 Case Studies;53
5.1.6;1.6 Results from a Survey in France, Italy and Spain;94
5.1.7;1.7 Conclusions and Future Perspectives;105
5.1.8;1.8 References;109
5.2;2 Access to Credit: the Difficulties of Households;116
5.2.1;2.1 Introduction;116
5.2.2;2.2 The Use of Credit by Households;117
5.2.3;2.3 A Theoretical Framework for Credit Exclusion;126
5.2.4;2.4 Beating Credit Exclusion;132
5.2.5;2.5 Conclusions and Policy Implications;143
5.2.6;2.6 References;146
5.3;3 Access to Investments and Asset Building for Low Income People;150
5.3.1;3.1 Saving and Asset Accumulation for LMIs: Theoretic Framework;150
5.3.2;3.2 The USA Experience with the Individual Development Accounts ( IDAs);154
5.3.3;3.3 Saving and Asset Accumulation with Tax Refunds;171
5.3.4;3.5 Conclusions;181
5.3.5;3.6 References and Bibliography;182
5.3.6;3.7 APPENDIX;187
5.4;Appendix to Part I;191
5.4.1;Methodological Notes to the Field Research in France, Italy and Spain;191
6;Part II;196
6.1;4 What Are the Specific Economic Gains from Improved Financial Inclusion? A Tentative Methodology for Estimating These Gains;197
6.1.1;4.1 Introduction;197
6.1.2;4.2 Defining Financial Exclusion;198
6.1.3;4.3 European Evidence on Exclusion;199
6.1.4;4.4 Market Context and European Policy Responses;201
6.1.5;4.5 From Exclusion to Inclusion: Identifying the Costs and Benefits;205
6.1.6;4.6 Measuring the Economic Gains from Improved Financial Inclusion;213
6.1.7;4.7 Conclusion;215
6.1.8;4.8 References and Bibliography;216
6.2;5 From Financial Exclusion to Overindebtedness: the Paradox of Difficulties for People on Low Incomes?;218
6.2.1;5.1 Introduction1;218
6.2.2;5.2 A Definition of Financial Exclusion as a Social Phenomenon;220
6.2.3;5.3 Access and Use of Credit: the Importance of Social Constraints;226
6.2.4;5.4 The Mechanisms Underlying Access and Use Difficulties;232
6.2.5;5.5 Conclusion;246
6.2.6;5.6 References;248
6.3;6 The Role of German Savings Banks in Preventing Financial Exclusion;251
6.3.1;6.1 Introduction;251
6.3.2;6.2 Savings Banks as a Part of the German Banking System;253
6.3.3;6.3 Is the Public Mandate of the Savings Banks Obsolete or a Successful Strategy to Prevent Financial Exclusion?;258
6.3.4;6.4 Financing of Small and Medium-Sized Enterprises;263
6.3.5;6.6 Future Outlook on the Sparkassen-Finanzgruppe;266
6.3.6;6.7 References;269
6.4;7 Economic Growth and the Financial Inclusion: the Case of Poland;274
6.4.1;7.1 Introduction;274
6.4.2;7.2 Transformation of the Polish Banking Sector and Provision of Banking Services;276
6.4.3;7.3 Provision of Banking Services to Households and Corporations;285
6.4.4;7.4 Models of Bank Services to SME;290
6.4.5;7.5 Barriers to Providing Banking Services to SME: Results of Bank Surveys;293
6.4.6;7.6 Conclusions;297
6.4.7;7.7 References;300
6.5;8 Italian Banks’ Credit Approach Towards Low- Income Consumers and Microenterprises: Is There a Bias Against Some Segments of Customers?;302
6.5.1;8.1 Introduction;302
6.5.2;8.2 Methodologies of Credit Risk Measurement: Credit Scoring Models;305
6.5.3;8.3 Strengths and Weaknesses of Credit Scoring;310
6.5.4;8.4 The Effects of the Adoption of Credit Scoring on a Marginal Borrower’s Credit Process;313
6.5.5;8.5 The Experiences of Some Italian Banks;316
6.5.6;8.6 Conclusions;321
6.5.7;8.7 References;322
6.6;9 Banking the Poor: Policies to Bring Low- and Moderate- Income Households in the United States into the Financial Mainstream1;325
6.6.1;9.1 The “Unbanked” and the “Underbanked”;325
6.6.2;9.2 The Banking Sector;329
6.6.3;9.3 Payments Systems and Distribution Networks;335
6.6.4;9.4 Transforming Financial Services for the Poor;341
6.6.5;9.5 Conclusion;351
6.6.6;9.6 References;352
6.7;10 Migrants and Remittances;354
6.7.1;10.1 Migration Phenomena: Modern-day Elements of an Ancient Phenomenon;354
6.7.2;10.2 The Risk of Financial Exclusion Within a Broader Perspective;356
6.7.3;10.3 Migration Phases and Personal Variables as Key Elements of Financial Needs;357
6.7.4;10.4 Migrant Remittance Behaviour;366
6.7.5;10.5 Conclusions;369
6.7.6;10.6 References;371
6.8;11 Conclusions;373
7;Editors and Contributing Authors;376