IDEAS home Printed from https://ideas.repec.org/a/spr/infosf/v25y2023i5d10.1007_s10796-022-10345-7.html
   My bibliography  Save this article

Banking the Unbanked: Conceptualizing Success of the Business Correspondent Model

Author

Listed:
  • Kanika Goel

    (Queensland University of Technology)

  • Wasana Bandara

    (Queensland University of Technology)

  • Guy Gable

    (Queensland University of Technology)

Abstract

The Business Correspondent (BC) model is an IT-enabled business process outsourcing initiative to provide financial services to the unbanked. It is a complex banking system involving multiple actors, system elements and settings, intended to address financial exclusion. Given the BC-Model’s potentially significant role in economic sustainability, it is important to evaluate its success. Efforts to measure the success of the BC-Model have been limited to date; this paper therefore presents a conceptual framework of BC-Model-Success consisting of six dimensions- economic, strategic, technological, customer satisfaction, employee satisfaction, and social, resulting from a three-phase study design. The relevance of the framework was empirically validated across four implementations of the BC-Model. The resulting framework provides strong theoretical foundations for understanding what BC model success is, for assisting practitioners with evaluating the success of the BC-Model and with identifying possible improvements, and for facilitating future research on the BC-Model.

Suggested Citation

  • Kanika Goel & Wasana Bandara & Guy Gable, 2023. "Banking the Unbanked: Conceptualizing Success of the Business Correspondent Model," Information Systems Frontiers, Springer, vol. 25(5), pages 1953-1984, October.
    • Handle: RePEc:spr:infosf:v:25:y:2023:i:5:d:10.1007_s10796-022-10345-7
    DOI: 10.1007/s10796-022-10345-7
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s10796-022-10345-7
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.
    File URL: https://libkey.io/10.1007/s10796-022-10345-7?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Abhinav Gupta, 2016. "Service quality and delivery in banking services—An Indian perspective," Cogent Business & Management, Taylor & Francis Journals, vol. 3(1), pages 1243504-124, December.
    2. Allen, Franklin & Demirguc-Kunt, Asli & Klapper, Leora & Martinez Peria, Maria Soledad, 2016. "The foundations of financial inclusion: Understanding ownership and use of formal accounts," Journal of Financial Intermediation, Elsevier, vol. 27(C), pages 1-30.
    3. Ooi Ee & Hasliza Abdul Halim & T. Ramayah, 2013. "The effects of partnership quality on business process outsourcing success in Malaysia: key users perspective," Service Business, Springer;Pan-Pacific Business Association, vol. 7(2), pages 227-253, June.
    4. Ozili, Peterson K, 2020. "Social inclusion and financial inclusion: international evidence," MPRA Paper 101811, University Library of Munich, Germany.
    5. Neaime, Simon & Gaysset, Isabelle, 2018. "Financial inclusion and stability in MENA: Evidence from poverty and inequality," Finance Research Letters, Elsevier, vol. 24(C), pages 230-237.
    6. Jun Tian & Kanliang Wang & Yan Chen & Björn Johansson, 2010. "From IT deployment capabilities to competitive advantage: An exploratory study in China," Information Systems Frontiers, Springer, vol. 12(3), pages 239-255, July.
    7. repec:eme:ijoes0:ijoes-04-2020-0054 is not listed on IDEAS
    8. Nurudeen Abubakar Zauro & Ram Al Jaffri Saad & Aidi Ahmi & Mohd Yahya Mohd Hussin, 2020. "Integration of Waqf towards enhancing financial inclusion and socio-economic justice in Nigeria," International Journal of Ethics and Systems, Emerald Group Publishing Limited, vol. 36(4), pages 491-505, August.
    9. Shigufta Hena Uzma & Suvendu Kr. Pratihari, 2019. "Financial Modelling for Business Sustainability: A Study of Business Correspondent Model of Financial Inclusion in India," Vikalpa: The Journal for Decision Makers, , vol. 44(4), pages 211-231, December.
    10. Syaiful Ali & Peter Green, 2012. "Effective information technology (IT) governance mechanisms: An IT outsourcing perspective," Information Systems Frontiers, Springer, vol. 14(2), pages 179-193, April.
    11. Dominika Wach & Ute Stephan & Marjan, J. Gorgievski & Jürgen Wegge, 2020. "Entrepreneurs’ achieved success: developing a multi-faceted measure," International Entrepreneurship and Management Journal, Springer, vol. 16(3), pages 1123-1151, September.
    12. Demirguc-Kunt,Asli & Klapper,Leora & Singer,Dorothe, 2017. "Financial inclusion and inclusive growth : a review of recent empirical evidence," Policy Research Working Paper Series 8040, The World Bank.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Banna, Hasanul & Kabir Hassan, M. & Rashid, Mamunur, 2021. "Fintech-based financial inclusion and bank risk-taking: Evidence from OIC countries," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 75(C).
    2. Mohammed Amidu & Joshua Yindenaba Abor & William Coffie & Agnes Akpene Akakpo, 2021. "Financial Inclusion, Livelihood Activities, and Stock Market Participation," Emerging Economy Studies, International Management Institute, vol. 7(1), pages 23-61, May.
    3. Wang, Rui & Luo, Hang (Robin), 2022. "How does financial inclusion affect bank stability in emerging economies?," Emerging Markets Review, Elsevier, vol. 51(PA).
    4. Ozili, Peterson K, 2020. "Financial inclusion research around the world: a review," MPRA Paper 101809, University Library of Munich, Germany.
    5. Murshed, Muntasir & Ahmed, Rizwan & Al-Tal, Raad Mahmoud & Kumpamool, Chamaiporn & Vetchagool, Witchulada & Avarado, Rafael, 2023. "Determinants of financial inclusion in South Asia: The moderating and mediating roles of internal conflict settlement," Research in International Business and Finance, Elsevier, vol. 64(C).
    6. Rajabrata Banerjee & Admasu Asfaw Maruta & Ronald Donato, 2023. "Does higher financial inclusion lead to better health outcomes? Evidence from developing and transitional economies," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 31(2), pages 363-401, April.
    7. Ongo Nkoa, Bruno Emmanuel & Song, Jacques Simon, 2020. "Does institutional quality affect financial inclusion in Africa? A panel data analysis," Economic Systems, Elsevier, vol. 44(4).
    8. Gallego-Losada, María-Jesús & Montero-Navarro, Antonio & García-Abajo, Elisa & Gallego-Losada, Rocío, 2023. "Digital financial inclusion. Visualizing the academic literature," Research in International Business and Finance, Elsevier, vol. 64(C).
    9. Ozili, Peterson K, 2020. "Financial inclusion: a strong critique," MPRA Paper 101813, University Library of Munich, Germany.
    10. Úbeda, Fernando & Mendez, Alvaro & Forcadell, Francisco Javier, 2022. "The sustainable practices of multinational banks as drivers of financial inclusion in developing countries," LSE Research Online Documents on Economics 115063, London School of Economics and Political Science, LSE Library.
    11. Grohmann, Antonia & Klühs, Theres & Menkhoff, Lukas, 2018. "Does financial literacy improve financial inclusion? Cross country evidence," EconStor Open Access Articles and Book Chapters, ZBW - Leibniz Information Centre for Economics, vol. 111, pages 84-96.
    12. Sadeq Damrah & Mohammad I. Elian & Mohamad Atyeh & Fekri Ali Shawtari & Ahmed Bani-Mustafa, 2023. "A Linear Mixed Model Approach for Determining the Effect of Financial Inclusion on Bank Stability: Comparative Empirical Evidence for Islamic and Conventional Banks in Kuwait," Mathematics, MDPI, vol. 11(7), pages 1-17, April.
    13. Dan Ma & Wenchun Wang, 2023. "Mandatory inclusive finance policy and small banks' operating performance: Evidence from China," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 63(4), pages 4761-4777, December.
    14. Bao Zhu & Shiting Zhai & Jing He, 2018. "Is the Development of China’s Financial Inclusion Sustainable? Evidence from a Perspective of Balance," Sustainability, MDPI, vol. 10(4), pages 1-16, April.
    15. Zhao, Congyu & Jia, Rongwen & Dong, Kangyin, 2023. "Does financial inclusion achieve the dual dividends of narrowing carbon inequality within cities and between cities? Empirical evidence from China," Technological Forecasting and Social Change, Elsevier, vol. 195(C).
    16. Guillermo Boitano & Deybi Franco Abanto, 2020. "Challenges of financial inclusion policies in Peru," Revista Finanzas y Politica Economica, Universidad Católica de Colombia, vol. 12(1), pages 89-117, June.
    17. Tram, Thi Xuan Huong & Lai, Tien Dinh & Nguyen, Thi Truc Huong, 2023. "Constructing a composite financial inclusion index for developing economies," The Quarterly Review of Economics and Finance, Elsevier, vol. 87(C), pages 257-265.
    18. Kebede, Jeleta & Naranpanawa, Athula & Selvanathan, Saroja, 2023. "Financial inclusion and income inequality nexus: A case of Africa," Economic Analysis and Policy, Elsevier, vol. 77(C), pages 539-557.
    19. Shahid Manzoor Shah & Amjad Ali, 2022. "A Survey on Financial Inclusion: Theoretical and Empirical Literature Review," Journal of Policy Research (JPR), Research Foundation for Humanity (RFH), vol. 8(4), pages 310-330, December.
    20. Besong, Susan Enyang & Okanda, Tellma Longy & Ndip, Simon Arrey, 2022. "An empirical analysis of the impact of banking regulations on sustainable financial inclusion in the CEMAC region," Economic Systems, Elsevier, vol. 46(1).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:infosf:v:25:y:2023:i:5:d:10.1007_s10796-022-10345-7. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.