A new study conducted by think tank Caribbean Policy Research Institute, CaPRI, has revealed that the real cause of the slow crawl towards financial inclusion is largely due to banks disinterest in tailoring products to meet the needs of societys most vulnerable. The study titled Cheque In: Increasing Access to the Formal Financial System, found that such markets are not deemed profitable for financial institutions, particularly the larger players. The report is the sixth out of nine studies being financed by the European Union seeking to explore obstacles to financial inclusion.
Source: https://jamaica-gleaner.com/article/business/20220130/new-push-open-banking