Category
World
Layered Getaways
Trend cluster
Category
Rural
Bank
Financial institutions are looking to become accessible for rural communities.
1.9
Trend score
Trend
What is the Rural Bank trend?
Rural Bank: Many financial institutions—from traditional to digital-first banks—are attempting to reach rural communities with the help of technology. The movement calls for improved banking access through the implementation of small ATMs, biometric readers, cloud-based platforms and more.
Insight
The consumer insight behind the Rural Bank trend
Technology is enabling a higher degree of accessibility for services and many consumers are taking advantage of this. As the world evolves and individuals in rural communities become more connected, these features become more readily available in remote regions. They enable consumers without access to as many convenience-based services as people in cities to feel more empowered and prepared to take charge in the case of a crisis.
Trend themes
Themes within the Rural Bank trend
Three behaviours holding the trend together01
Improved Rural Banking Access through Technology
Many financial institutions are implementing small ATMs, biometric readers, cloud-based platforms and more to improve accessibility for rural communities.
02
Mobile-First Neobanks
Neobanks such as Albo provide secure and efficient banking options through mobile applications for underserved populations.
03
Cloud-Based Financial Services for the Unbanked
PearlPay is testing cloud-based financial services to provide core banking solutions and agent banking solutions, which can be accessed by people without an internet connection.
Industry implications
What the Rural Bank trend means for industry
Where the trend changes the playbookFor
Banking
Financial institutions are using technology to provide accessible banking solutions for those living in underserved rural communities.
For
Fintech
Fintech companies like Albo and PearlPay are providing secure and efficient financial services through mobile and cloud-based solutions.
For
International Development
Partnerships between organizations such as Fidelity Bank and the Nigerian Postal Services or initiatives like NERLP in India are expanding rural banking accessibility and encouraging economic growth.
Workshop question
How could your service/product reach a more off-grid consumer?
Trend signals
Trend signals for Rural Bank
Trend score 1.9 out of 10, from popularity 26%, activity 21%, freshness 9%.
Popularity26%
Activity21%
Freshness9%
Audience
50%Men
50%Women
- Gen Alpha
- Gen Z
- Millennial
- Gen X
- Boomer (not a primary audience)
Market
North America
Europe
Asia-Pacific
South America
Africa
Evidence
Examples of the Rural Bank trend
5 featured examples from Aug 27 to Nov 20, 2019CategoryBusiness
Rural Banking Development Projects
BANKIT Brought Micro ATMs to Improve Rural Banking in India
The banking industry can leverage micro ATMs and Aadhaar Enabled Payment Systems to expand their services and reach more customers in rural areas.
CategoryBusiness
Mobile-First Neobanks
Connecting to the MasterCard Network, Albo Enables Payments Through an App
The fintech industry can leverage mobile-first neobanks to offer more innovative and accessible financial services to the unbanked population.
CategoryBusiness
Rural Banking Accessibility Projects
Fidelity Bank Partnered with the Nigeria Postal Services
Creating opportunities for banks to extend their reach into untapped rural markets through innovative partnerships with non-traditional banking facilities.
CategoryBusiness
Cloud-Based Financial Services
PearlPay is Testing Rural Banking Solutions in the Philippines
The banking industry can explore the adoption of cloud-based solutions, like PearlPay's pilot program, to improve accessibility, streamline operations, and reach untapped markets.
CategoryBusiness
Empowering Rural Banking Solutions
World Bank's NERLP Initiative Improved Banking Access in Sikkim
Disruptive innovation opportunity: Develop and implement innovative banking technologies such as small ATMs, biometric readers, and thermal printers to improve accessibility in ru…
