Title: Improving the process of financial inclusion for women entrepreneurs in Indonesia

Authors: John Vong; Insu Song; Rakesh Dhananjay Salian; Rinu Kariath; Kritchawan Bunyong

Addresses: Financial IT Academy, Singapore Management University, 80 Stamford Road, 178902, Singapore ' James Cook University, 600 Upper Thomson Road, 574421, Singapore ' James Cook University, 600 Upper Thomson Road, 574421, Singapore ' James Cook University, 600 Upper Thomson Road, 574421, Singapore ' James Cook University, 600 Upper Thomson Road, 574421, Singapore

Abstract: The financial inclusion of women micro entrepreneurs is both important and necessary for the holistic socio-economic development of a nation. This paper aims to address the gap in the study of the processes of financial inclusion by women micro-entrepreneurs in Indonesia. The research will contribute to the pool of academic resources that pertains to financial inclusion, micro credit, and women entrepreneurship, intending to improve the processes and benchmarking for financial inclusion initiatives. There is an extensive literature research plus in situ research conducted in Indonesia. There is also significant evidence of factors pertaining to gender inequality, which is a result of financial inclusion of women. Both desk research and field research found financial exclusion is linked to financial education, cultural norms of rural Indonesia and high banking cost and mobile payments. In conclusion, the authors recommend a better processes in designing financial products, improving financial education, lowering cost of banking especially in the use of mobile payment technology, and instituting micro-insurance. Further research is recommended to generate hypotheses relating to financial inclusion and women entrepreneurship in Indonesia.

Keywords: financial inclusion; financial exclusion; cost of banking; bank products; female education; microfinance; rural areas; Indonesia; women micro-entrepreneurs; payment technology; gender inequality; access to finance; formal finance; micro credit; female entrepreneurs; entrepreneurship; women entrepreneurs; financial education; cultural norms; mobile payments; m-payment.

DOI: 10.1504/IJPMB.2014.060406

International Journal of Process Management and Benchmarking, 2014 Vol.4 No.2, pp.167 - 185

Available online: 13 Apr 2014 *

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