ICT‐equipped bank boat and the financial inclusion of the riverine population of Marajó Island in the Brazilian Amazon

Abstract

AbstractThe challenge in offering public services in less developed areas in Brazil has mobilized the government in search of new and creative approaches that can reduce major interregional disparities, including lack of access to the financial system, which is the prevailing situation on Marajó Island in the state of Pará in the Brazilian Amazon. To transform this reality, an information and communication technology (ICT)–equipped travelling bank branch installed on a boat—named Agência Barco—was designed for the purpose of meeting the financial needs of the riverine population that lives in a vast territory with low population density, marked transportation difficulties, and a limited supply of ICT. Thus, this research aims to assess the impact of this bank boat in the financial inclusion of a riverine population of Marajó Island in the state of Pará, which is the unit of analysis of this work. The research outcomes indicate that Agência Barco, via ICT, has partially managed to provide access to financial products and services that might be of interest to the riverine population of Marajó Island. However, the lack of basic financial education and context‐based issues related to the ICT infrastructure has been obstacles to the financial inclusion of this riverine population. Finally, the absence of involvement of local people in this endeavour has not stimulated dynamics of empowerment and participation that could lead to sustainable financial inclusion.