Financial Inclusion in Russia: The Demand Side Perspective

This paper aims to fill some of the information gaps with respect to the demand-side aspects of financial inclusion in Russia. It presents key findings and conclusions of the research, organized around the three dimensions of the G20 Financial Inclusion Indicators: access to financial services, usage of financial services, and quality of products and service delivery. The paper also attempts to identify characteristics of the segments of the Russian population that do not use or do not have access to financial services. It determines the level of demand for financial products and services and identifies barriers to accessing them in the country. The paper covers:

• Physical access infrastructure for key financial services and delivery channels;
• Survey findings regarding customer awareness and usage of financial services and financial service delivery channels;
• Findings on quality-related aspects of financial inclusion in Russia;
• Observations that could be useful for financial service providers, researchers and policy makers working on financial inclusion issues in Russia.