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Redefining banking for dependent vulnerables in India
48% of total bank accounts in India were dormant in 2018 and 38% of people are dependent on other people to fill bank forms. There are deeper layers to financial accessibility and this research uses various tools to uncover low usage levels of Indian Bank accounts. Confidence affects national financial inclusion and this research builds insights and strategic interventions for
its improvement.
Design Research | Research Design | Banking |
Financial Inclusion | Primary Research
Team & Role
Design researcher in a team of 3, as an academic project at National Institute
of Design
Objective
This project focused on designing research processes and tools of inquiry for a chosen area of study. From this, insights were derived from this field of inquiry and guidelines were suggested for intervention.
Area of enquiry
Understanding the barriers to true financial inclusion for the group of dependent vulnerables.
Timeline
8 weeks ( May-June 2022)
Final Outcome
From the research process, we generated insights and understood the crux of the reason why true financial inclusion is hindered: There is more to accessibility of bank accounts, as confidence of the users plays an even more important role in this. Furthermore, guidelines to address this issue were also suggested.
Is confidence the key to unlock true financial inclusion?
Research tools
Insights
Way Forward
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