New Banking, Banking for All: the Peru Model

Produced by: 
BBVA Research
Available from: 
May 2015
Paper author(s): 
Noelia Cámara
David Tuesta
Financial Economics

This paper presents a quantitative approach to the potential demand of formal financial services offered from the unique platform launched under the name of Peru Model for financial inclusion. It is based on the creation of an ecosystem for mobile financial services that rely on electronic money. The aim is twofold. First, to extend access to formal financial system to most of the population. Second, to minimize the perceived barriers to financial inclusion: distance, fees, documents required, security and trust. We quantify the number of potential customers of electronic money and divide them into three categories: Early Adopters, Majority Adopters and Late Adopters.


Research section: 
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