DFS Dreamers
DFS Dreamers are individuals who recognize the potential benefits of Digital Financial Services (DFS) and have either committed to obtaining them or have already begun the process. However, they often face a range of infrastructural, social and individual obstacles that prevent them from achieving this goal. For instance, many of these individuals may not be able to afford a personal or high-quality smartphone, limiting their access to conventional DFS.
Some might not even have a phone number, while others live in areas with poor network connectivity, making it difficult to download necessary applications. Alongside this there are eligibility issues, such as problems with identity verification or the lack of a bank account, that can also prevent access to DFS.
Additionally, financial challenges, such as high down payments, credit score requirements, and costs associated with obtaining DFS—such as traveling to a centre or losing a day's wage to visit one—can significantly impede an individual's ability to access these services. In some cases, social barriers may arise from prevailing norms that hinder access to digital services. For those who overcome social and infrastructural barriers, the heavy reliance on literacy during self-onboarding can still pose significant challenges, leading many ‘DFS Dreamers’ to abandon the process.
