Financial Inclusion for Informal Workers in Urban Philippines
Keywords:
financial inclusion, informal workers, digital finance, urban Philippines, microfinance, fintechAbstract
Financial inclusion remains a critical challenge for informal workers in urban Philippines, where approximately 40% of the workforce operates outside formal employment structures. This study examines the barriers, opportunities, and interventions necessary to enhance financial access for informal sector workers in metropolitan areas. Through systematic analysis of recent literature and empirical evidence, this research explores the multidimensional nature of financial exclusion, including limited access to banking services, digital payment systems, credit facilities, and insurance products. The findings reveal that informal workers face structural, technological, and socioeconomic barriers that perpetuate their financial marginalization. However, emerging digital financial services, mobile banking platforms, and microfinance innovations present promising pathways toward greater inclusion. This study contributes to understanding how targeted policy interventions and fintech solutions can bridge the financial gap for urban informal workers, ultimately promoting economic resilience and poverty reduction in the Philippine context.
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