Publication:
Financial Inclusion and Consumer Protection in Peru: The Branchless Banking Business

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dc.contributor.authorSuperintendence of Banks, Insurance and AFPs of Peru
dc.contributor.authorConsultative Group to Assist the Poor
dc.date.accessioned2015-04-30T17:05:46Z
dc.date.available2015-04-30T17:05:46Z
dc.date.issued2010-02
dc.description.abstractAs part of its Global Policy Initiative, Consultative Group to Assist the Poor (CGAP) partnered with the Superintendence of Banks, Insurance and AFPs of Peru in late 2008, with the purpose of enhancing the understanding of the issues and trends in consumer relations when financial services are delivered through branchless banking, particularly through agents, which are used in ever increasing scale in Peru. The product was this joint report. Three other countries with relevant experience in branchless banking (Kenya, Brazil and India) participated in a similar exercise at approximately the same time. As in the case of Peru, the exercise gave an opportunity for regulators of each jurisdiction to look at their regulatory and institutional framework for protecting branchless banking users, evaluate their regulatory and supervisory actions, and identify areas for improvements. A forthcoming CGAP focus note complements the effort, by making an overall evaluation of the lessons learned in these countries and drawing on the knowledge from other pioneer countries such as South Africa, Mexico, Colombia and the Philippines. The focus note will point out and address priority areas of concern and possible regulatory and policy options to address them. The first part of the report outlines the financial inclusion efforts currently being undertaken by the Superintendence. The following section summarizes the most important points of the legal and regulatory framework for financial consumer protection, pointing out any specificity of branchless banking. The third part describes the branchless banking business in Peru and describes the issues and problems identified in the relationship between branchless banking clients and providers, and the supervisory and enforcement implications. The last section draws conclusions and makes recommendations for achieving a balance between openness to innovation and protection in a branchless banking environment.en
dc.identifierhttp://documents.worldbank.org/curated/en/2010/02/24224934/financial-inclusion-consumer-protection-peru-branchless-banking-business
dc.identifier.doi10.1596/21838
dc.identifier.urihttps://hdl.handle.net/10986/21838
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO BANK
dc.subjectACCESS TO INFORMATION
dc.subjectACCOUNT HOLDERS
dc.subjectACCOUNTING
dc.subjectACCOUNTING RULES
dc.subjectADVERTISING
dc.subjectAGENCY RELATIONSHIP
dc.subjectARBITRATION
dc.subjectATM
dc.subjectATMS
dc.subjectAUTOMATED TELLER MACHINES
dc.subjectBANK ACCOUNT
dc.subjectBANK ACCOUNTS
dc.subjectBANK BRANCH
dc.subjectBANK BRANCHES
dc.subjectBANK SECRECY
dc.subjectBANKING SERVICES
dc.subjectBANKS
dc.subjectBASIS POINTS
dc.subjectBRANCH NETWORK
dc.subjectBUSINESS MODELS
dc.subjectBUSINESS REGULATION
dc.subjectCAPABILITY
dc.subjectCASH BALANCE
dc.subjectCIVIL CODE
dc.subjectCLIENT IDENTIFICATION
dc.subjectCOMMERCIAL ACTIVITIES
dc.subjectCOMMERCIAL ACTIVITY
dc.subjectCOMMERCIAL BANKS
dc.subjectCONFIDENTIALITY
dc.subjectCONSUMER
dc.subjectCONSUMER COMPLAINT
dc.subjectCONSUMER COMPLAINTS
dc.subjectCONSUMER CREDIT
dc.subjectCONSUMER PROTECTION
dc.subjectCONSUMER PROTECTION LAW
dc.subjectCONSUMER RIGHTS
dc.subjectCONTRIBUTION
dc.subjectCREDIBILITY
dc.subjectCREDIT CARD
dc.subjectCREDIT CARD RATES
dc.subjectCREDIT CARDS
dc.subjectCREDIT COOPERATIVES
dc.subjectCREDIT SOURCE
dc.subjectCREDITOR
dc.subjectCREDITOR BANK
dc.subjectCREDITS
dc.subjectCURRENT ACCOUNTS
dc.subjectCUSTOMER EXPERIENCE
dc.subjectCUSTOMER SERVICE
dc.subjectDEBIT CARD
dc.subjectDEEDS
dc.subjectDELIVERY MECHANISMS
dc.subjectDELIVERY SERVICES
dc.subjectDEPOSIT
dc.subjectDEPOSIT-TAKING INSTITUTIONS
dc.subjectDEPOSITOR
dc.subjectDEPOSITS
dc.subjectDIGITAL CERTIFICATES
dc.subjectDIGITAL SIGNATURES
dc.subjectDISCLOSURE REQUIREMENTS
dc.subjectDISPUTE RESOLUTION
dc.subjectDOMESTIC BANK
dc.subjectDUE DILIGENCE
dc.subjectE-BANKING
dc.subjectE-MONEY
dc.subjectECONOMIC DEVELOPMENT
dc.subjectEDUCATION PROGRAMS
dc.subjectENFORCEMENT POWERS
dc.subjectEQUIPMENT
dc.subjectFINANCIAL CONSUMER
dc.subjectFINANCIAL CONSUMERS
dc.subjectFINANCIAL CONTRACTS
dc.subjectFINANCIAL CRIMES
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL EDUCATION
dc.subjectFINANCIAL INSTITUTION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL LITERACY
dc.subjectFINANCIAL MARKETS
dc.subjectFINANCIAL OPERATIONS
dc.subjectFINANCIAL PRODUCT
dc.subjectFINANCIAL PRODUCTS
dc.subjectFINANCIAL RISKS
dc.subjectFINANCIAL SECTOR
dc.subjectFINANCIAL SERVICE
dc.subjectFINANCIAL SERVICE PROVIDER
dc.subjectFINANCIAL SERVICES
dc.subjectFINANCIAL SERVICES PROVIDERS
dc.subjectFINANCIAL STABILITY
dc.subjectFINANCIAL SYSTEM
dc.subjectFINANCIAL TRANSACTION
dc.subjectFINANCIAL TRANSACTIONS
dc.subjectFRAUD
dc.subjectFRAUDS
dc.subjectFRAUDULENT ACTIONS
dc.subjectGENERAL PUBLIC
dc.subjectGEOGRAPHIC DISTRIBUTION
dc.subjectGROWTH RATE
dc.subjectHOLDING
dc.subjectIDENTIFICATION NUMBER
dc.subjectINCOME LEVELS
dc.subjectINFLATION
dc.subjectINFORMATION ASYMMETRIES
dc.subjectINFORMATION ASYMMETRY
dc.subjectINFORMATION SHARING
dc.subjectINFORMATION SYSTEMS
dc.subjectINNOVATION
dc.subjectINNOVATIONS
dc.subjectINSPECTIONS
dc.subjectINSTITUTIONAL FRAMEWORK
dc.subjectINSURANCE
dc.subjectINSURANCE PRODUCTS
dc.subjectINTELLECTUAL PROPERTY RIGHTS
dc.subjectINTEREST RATES
dc.subjectINTERFACE
dc.subjectINTERNATIONAL FINANCIAL MARKETS
dc.subjectINTEROPERABILITY
dc.subjectJURISDICTION
dc.subjectJURISDICTIONS
dc.subjectLEGAL AUTHORITY
dc.subjectLEGAL FRAMEWORK
dc.subjectLEGISLATION
dc.subjectLEVY
dc.subjectLIABILITY
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectLOAN APPLICATIONS
dc.subjectLOAN RATES
dc.subjectLOCAL FINANCIAL MARKETS
dc.subjectLOCAL MEDIA
dc.subjectLOW-INCOME
dc.subjectLOW-INCOME CUSTOMERS
dc.subjectMAINTENANCE FEES
dc.subjectMAJOR BANK
dc.subjectMAJOR BANKS
dc.subjectMANDATES
dc.subjectMARKET DISCIPLINE
dc.subjectMARKET FAILURES
dc.subjectMARKETING
dc.subjectMASS MEDIA
dc.subjectMATERIAL
dc.subjectMEDIA CAMPAIGNS
dc.subjectMETROPOLITAN AREAS
dc.subjectMICROFINANCE
dc.subjectMICROFINANCE INSTITUTIONS
dc.subjectMOBILE BANKING
dc.subjectMOBILE PHONES
dc.subjectMONEY LAUNDERING
dc.subjectMUNICIPALITIES
dc.subjectNETWORKS
dc.subjectONLINE PRICE
dc.subjectOPERATIONAL RISK
dc.subjectPAYMENT POINTS
dc.subjectPAYMENT SERVICES
dc.subjectPAYMENT SYSTEM
dc.subjectPAYMENT SYSTEMS
dc.subjectPENSION
dc.subjectPENSION FUNDS
dc.subjectPENSION SYSTEM
dc.subjectPENSIONERS
dc.subjectPERSONAL DATA
dc.subjectPERSONAL IDENTIFICATION
dc.subjectPHONE
dc.subjectPHONE BANKING
dc.subjectPRICE COMPARISON
dc.subjectPRICE INFORMATION
dc.subjectPRICE TRANSPARENCY
dc.subjectPRIVACY
dc.subjectPRIVATE BANK
dc.subjectPRIVATE COMMERCIAL BANKS
dc.subjectPRIVATE PENSION
dc.subjectPRIVATE SECTOR
dc.subjectPROBABILITY
dc.subjectPROTECTION OF INTELLECTUAL PROPERTY
dc.subjectPUBLIC AWARENESS
dc.subjectPUBLIC CONFIDENCE
dc.subjectQUALITY OF SERVICE
dc.subjectQUERIES
dc.subjectRADIO
dc.subjectREGULATOR
dc.subjectREGULATORS
dc.subjectREGULATORY FRAMEWORK
dc.subjectREGULATORY REPORTS
dc.subjectREGULATORY REQUIREMENTS
dc.subjectREGULATORY TREATMENT
dc.subjectREMITTANCES
dc.subjectREMOTE LOCATIONS
dc.subjectRESPONSIBILITIES
dc.subjectRESULT
dc.subjectRESULTS
dc.subjectRISK EVALUATION
dc.subjectRISK FACTORS
dc.subjectSALE
dc.subjectSALES
dc.subjectSATELLITE
dc.subjectSAVINGS
dc.subjectSAVINGS ACCOUNTS
dc.subjectSETTLEMENT
dc.subjectSOURCE OF INFORMATION
dc.subjectSTAKEHOLDERS
dc.subjectSTATE BANK
dc.subjectSUPERVISION
dc.subjectSUPERVISORY FRAMEWORK
dc.subjectSYSTEM DEVELOPMENT
dc.subjectTARGETS
dc.subjectTAX
dc.subjectTAX YEAR
dc.subjectTAXATION
dc.subjectTELLERS
dc.subjectTRANSACTION
dc.subjectTRANSACTION VOLUMES
dc.subjectTRANSPARENCY
dc.subjectUNEMPLOYMENT
dc.subjectUSER
dc.subjectUSERS
dc.subjectUSES
dc.subjectWEB
dc.subjectWEB SITE
dc.subjectWEB SITES
dc.subjectWORTH
dc.titleFinancial Inclusion and Consumer Protection in Peruen
dc.title.alternativeLa inclusion financiera y la proteccion del consumidor en el Peru : la actividad de la banca sin sucursalesen
dc.title.subtitleThe Branchless Banking Businessen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.date.disclosure2015-04-01
okr.date.doiregistration2025-05-07T11:06:16.804780Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Other Financial Sector Study
okr.docurlhttp://documents.worldbank.org/curated/en/2010/02/24224934/financial-inclusion-consumer-protection-peru-branchless-banking-business
okr.globalpracticeFinance and Markets
okr.guid986931468057898691
okr.guid382121468145192303
okr.identifier.externaldocumentum000333037_20150401093534
okr.identifier.internaldocumentum24224934
okr.identifier.report95387
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/04/01/000333037_20150401093534/Rendered/PDF/953870WP0Box380ion0in0Peru0Feb02010.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countryPeru
okr.topicBanks and Banking Reform
okr.topicFinance and Financial Sector Development::Financial Literacy
okr.topicPrivate Sector Development::Emerging Markets
okr.topicFinance and Financial Sector Development::Debt Markets
okr.topicPrivate Sector Development::E-Business
okr.unitFinance & Markets - Consult. Grp (GFMGP)
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