The relationship between vulnerable financial consumers and banking institutions. A qualitative study in Spain

Cuesta-González, Marta de la, Paredes-Gázquez, Juan Diego, Ruza, Cristina y Fernández-Olit, Beatriz . (2021) The relationship between vulnerable financial consumers and banking institutions. A qualitative study in Spain. Geoforum 119, 163-176

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Título The relationship between vulnerable financial consumers and banking institutions. A qualitative study in Spain
Autor(es) Cuesta-González, Marta de la
Paredes-Gázquez, Juan Diego
Ruza, Cristina
Fernández-Olit, Beatriz
Materia(s) Economía
Abstract The financial exclusion phenomenon has been approached from different perspectives. After reviewing the recent literature, we adopt a financial ecology approach and propose a comprehensive framework to analyse the different types of difficulties (access, use and perception) that vulnerable financial consumers face in relationships with banking institutions as well as their underlying causes. We consider financial inclusion as the sustainable provision of financial services and products and an adjustment to individual needs. We examine a special group of urban vulnerable consumers: underbanked people facing poverty and social exclusion. Data were obtained from focus groups and were coded and analysed using qualitative data analysis software. The results show that use difficulties predominate, followed by perception difficulties. Bank pressure and lack of financial training stood out among the main causes of these financial difficulties. We conclude that poorer neighbourhoods constitute a distinctive financial ecology produced by the ‘discrimination’ of a significant number of their inhabitants in the use of mainstream financial services. The study provides evidence of the socio-spatial nature of the exclusion process and calls for further research on the role of policy responses to restrict abusive practices.
Palabras clave financial exclusion
financial ecology
vulnerable consumer
financialization
discourse analysis
poverty
financial capability
Editor(es) Elsevier
Fecha 2021-01-05
Formato application/pdf
Identificador bibliuned:DptoEA-FECO-Articulos-Mcuesta0001
http://e-spacio.uned.es/fez/view/bibliuned:DptoEA-FECO-Articulos-Mcuesta0001
DOI - identifier https://doi.org/10.1016/j.geoforum.2021.01.006
Nombre de la revista Geoforum
Número de Volumen 119
Página inicial 163
Página final 176
Publicado en la Revista Geoforum 119, 163-176
Idioma eng
Versión de la publicación acceptedVersion
Tipo de recurso Article
Derechos de acceso y licencia http://creativecommons.org/licenses/by-nc-nd/4.0
info:eu-repo/semantics/openAccess
Tipo de acceso Acceso abierto
Notas adicionales Este es el manuscrito aceptado del artículo publicado por Elsevier en "Geoforum" en Febrero del 2021, disponible en línea: https://doi.org/10.1016/j.geoforum.2021.01.006

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Creado: Wed, 03 Nov 2021, 00:45:48 CET