Fiji has seen a significant growth of mobile money in terms of accounts opened and its usage, states the Reserve Bank of Fiji’s Financial Services Demand Side Survey Fiji 2020.
However, significant effort is still required to increase user confidence and convert prospective users into actual customers, states the study.
“Climate-related products, such as insurance and credit, is an area that requires more awareness.”
“Knowledge of climate-related financial products is largely limited to insurance and majority of the respondents did not see value and therefore the need to spend on such products.
“This highlights the need for effective consumer awareness campaigns on climate risk and the benefits of climate-related products.
“Customer-centric efforts to develop products and services which can drive customer interest and thus uptake among diverse economic and demographic is key to addressing the different climate risk profiles.”
