Road to Inclusion

This study - both quantitative and qualitative - looks at the financially `excluded' and `underserved' across Europe.

  • Click on the video above to see an animation giving a brief overview of findings from the research

MasterCard commissioned Ipsos MORI to help it understand what the impact of being financially ‘excluded’ or ‘underserved’ is on people’s everyday lives. This study – both quantitative and qualitative – looked at the financially ‘excluded’ and ‘underserved’ across Europe, who were defined for this study as;

  • Those who are totally financially excluded (without any access to formal banking services);
  • The financially underserved (those who have some sort of account, but no access to any form of electronic payment, such as a debit, credit or prepaid card).

This research aimed to illustrate the everyday lives of those who are often hidden from financial institutions in Europe, as they currently have little or no relationship with them. The research approach was designed with breadth and depth in mind. The quantitative element contained a sample of over 630 people without any access to electronic payments at all, in some cases not even a bank account, and was designed to look at the types of services people have (or do not have) access to. This was combined with an in-depth ethnographic study, looking qualitatively at how 36 different households live day-to-day under these circumstances, understanding the ways in which people manage whilst financially excluded/underserved. Combined, it makes one of the largest studies of its type to research this population, and details both the attitudes and behaviours towards living in this manner. The picture is made more vivid by conducting the research in different markets across six countries: UK, France, Spain, Italy, Poland and Russia. In exploring the challenges of financial exclusion, four key themes emerged that demonstrate an obvious perception gap of this group: that money management is an issue, access to technology varied, and that education about financial inclusion is very important.

More insights about Retail

Consumer & Shopper