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How the unbanked cope with financial exclusion: Evidence from Pakistan

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  • Sohail Kamran

    (Jyväskylä University School of Business and Economics, University of Jyväskylä)

  • Outi Uusitalo

Abstract

This article investigates both the coping strategies employed by low-income unbanked consumers in Pakistan and the consequences of those strategies. Qualitative data were gathered from low-income unbanked consumers through in-depth interviews. The findings suggest that unbanked consumers utilize their respective social networks and various market and personal resources to cope with financial exclusion. The utilization of social network resources to cope with financial exclusion typically enabled participants to fulfill their obligations in a positive manner and enhanced solidarity and trust among group members, whereas the use of market and personal resources tended to produce more negative consequences in the form of different types of risk. The article provides managerial implications for developing services that enhance the well-being of unbanked consumers.

Suggested Citation

  • Sohail Kamran & Outi Uusitalo, 2016. "How the unbanked cope with financial exclusion: Evidence from Pakistan," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 21(2), pages 153-165, June.
    • Handle: RePEc:pal:jofsma:v:21:y:2016:i:2:d:10.1057_fsm.2016.6
    DOI: 10.1057/fsm.2016.6
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    Cited by:

    1. Waqar Younas & K. Ramanathan Kalimuthu, 2021. "Telecom microfinance banking versus commercial banking: a battle in the financial services sector," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(2), pages 67-80, June.
    2. Chunhua Xin & Shuangshuang Fan & Zihao Guo, 2024. "Can digital finance promote inclusive growth to meet sustainable development in China? A machine learning approach," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 26(10), pages 26647-26677, October.
    3. Ademola Abimbola. O & Ben-Caleb Egbide & Adegboyegun Adekunle. E & Eluyela Damilola. F & Falaye Adebanjo. J & Ajayi Abiodun. S., 2020. "Rotating and Savings Credit Association (ROSCAs): A Veritable Tool for Enhancing the Performance of Micro and Small Enterprises in Nigeria," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(2), pages 189-199, February.

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