This study, conducted by the BRAC Institute of Governance and Development (BIGD) in collaboration with Quicksand Design Studio with support from the Bill & Melinda Gates Foundation, investigates digital financial inclusion in Bangladesh, focusing on the onboarding experiences of unbanked and underbanked individuals onto digital financial service (DFS) platforms. It addresses critical obstacles and identifies key opportunities in the onboarding process in a context marked by rural-urban disparities in mobile phone access, digital literacy, and gender norms.
Researchers: Dr Shahaduz Zaman (principal investigator); Faruq Hossain (co-investigator); Fariza Rahman; Md. Rohmotul Islam; Aishwarya Sanjukta Roy Proma; Jumana Asrar; and Ajmain Fayak Al Nasif
Partners: Quicksand Design Studio (India); Somia CX (Indonesia); and Three Stones International, LLC (Uganda)
Timeline: 2021–2023
Status: Ongoing
Contact: Jumana Asrar; jumana.asrar@bracu.ac.bd
Context
Digital financial services (DFS) are essential for integrating unbanked and underbanked individuals into the formal financial sector, and the adoption of these services hinges on the onboarding process onto DFS platforms. However, in Bangladesh, disparities in mobile phone access, varying internet speed, low digital literacy, and gender-related restrictions faced by rural citizens, particularly women, present significant obstacles.
Objectives
The study seeks to investigate and document the digital financial onboarding experiences of unbanked, underbanked, and banked individuals, with a special focus on marginalized and vulnerable communities in Bangladesh. Its specific objectives include identifying key challenges and opportunities in the onboarding process and generating localized, actionable insights that can support digital financial inclusion efforts by service providers. Additionally, the research will explore various DFS use cases and the roles of agents, banking correspondents, non-governmental organization (NGO) field workers, and other stakeholders in facilitating the onboarding process.
Methodology
Part of a two-year, four-country study, this research will involve data collection through interviews, using participatory activities and design thinking methods, with 200 unique DFS users. Rich media documentation, such as pictures, videos, and recordings, will complement the insights gathered.
Findings and Recommendations
Forthcoming.
