How does getting access to financial products and services impact people’s lives?

Prepared by 60 Decibels and funded by the Centre for Impact Investing and Practices (CIIP) — part of the Temasek Trust ecosystem — the Southeast Asia Financial Service Providers 2023 Impact Report seeks to understand customer impact and experiences as a result of having access to lending and technology in Southeast Asia.

60 Decibels and CIIP spoke to nearly 8,500 clients of 31 financial service providers in Indonesia, Cambodia, the Philippines, Vietnam, Myanmar, and Thailand between October 2022 and June 2023. The participating providers extend financial services and capital to those who need it and who, by and large, do not have access to other ‘formal’ lending services.

The data and insights reflect customer profile, access, business impact, household impact, client protection, financial resilience, agency, and digitisation. 

For instance, clients who use their loans for a business purpose are more likely to report improvements in their financial management ability and resilience, according to the study.

“After receiving my loan from [a financial service provider], my income increased. I am now able to cover some of the household needs. Additionally, my child’s daily needs and school needs are more fulfilled,” a woman, aged 40, responded.

This deep-dive into customer impact forms part of the primary research carried out to highlight best practices that enable better financial health outcomes in Southeast Asia. 

It is an addendum to a report on financial inclusion in the region. Titled Financial Inclusion in Post-COVID Southeast Asia: Accelerating Impact Beyond Access, the main study was conducted by CIIP in collaboration with the United Nations Capital Development Fund and Helicap, with support from 60 Decibels. 

The financial inclusion report outlines investment opportunities as well as successful business models and practices to accelerate positive impact for underserved regional customers through access to credit. 

CIIP is a non-profit entity established by Temasek Trust in 2022 to foster impact investing and practices in Asia and beyond. The Centre aims to contribute towards a sustainable future for all. Follow CIIP on LinkedIn to stay updated. 

For the latest on the Temasek Trust ecosystem, follow us on LinkedIn, Instagram, Facebook, and YouTube.