What Makes Customers Choose One Transaction Product Over Another?

There has been tremendous progress when it comes to improving access to financial services, with 515 million more adults globally reporting account ownership at a financial institution or a mobile money provider in 2017 than in 2014, for a total of 69% of the world population. However, to improve the overall financial well-being of customers, appropriate and consistent usage of financial accounts is a prerequisite.

In this article, BFA evaluated from the perspective of the customer what currently contributes to low account activity in emerging markets, what can drive adoption of new transaction products, and what can contribute to increased and sustained account usage