Financial inclusion is measured in three dimensions: (i) access to financial services; (ii) usage of financial services; and (iii) the quality of the products and the service delivery. The Basic Set was developed in 2012, and addressed key access and usage indicators. This set of indicators was extended in 2013 and renamed the G20 Financial Inclusion Indicators; the revised set of indicators covered the same three dimensions and provided further insight into access and usage aspects, including indicators on the emerging mobile financial services space. Both supply-side and demand-side data were included to form a comprehensive view.
Under the leadership of the Chinese G20 Presidency and in consultation with G20 members and other GPFI members and implementing partners, new indicators have been added to the G20 Financial Inclusion Indicators to measure the use, availability, and quality of digital financial services. The expansion and revision of the existing set of indicators was driven by the development of new digital models, as well as the availability of new data on both the demand for and supply of digital financial services. The updated and new indicators measure both use of digital payments and access to digital infrastructure.
Countries are encouraged to collect their own data and supplement the indicators given in the table below with data on areas of specific relevance to the country context. The data sources listed in the table below provide a useful starting point with which to populate the key indicators. The availability, sustainability and robustness of data were the key criteria, with appropriateness and comprehensiveness, in selecting the G20 Financial Inclusion Indicators.
The primary data sources are the World Bank Global Findex, the IMF Financial Access Survey, the World Bank Enterprise Survey, and the World Bank Global Payments Systems Survey; additional sources include the Gallup World Poll, the OECD National Financial Literacy and Inclusion Surveys, the OECD SME Scoreboard, the World Bank Financial Capability Surveys, the World Bank Global Consumer Protection Survey, and the World Bank Group’s Doing Business.