Latin America: financial inclusion cycle 2020

The source establishes an approach to financial inclusion, which categorizes consumers according to six pre-defined stages within the financial inclusion cycle:
1. Cash-only consumers: people who do not use financial services.
2. Cash preferrer: people with access to at least one financial product but who uses it rarely.
3. Willing to try: People with a financial account who make small deposits.
4. Cash displacer: People with a financial account who use their basic features, such as transfers, purchases, and bill payments.
5. True believer: People with a financial account who use more advanced features like personal loans, insurances, investments, etc.
6. Master: people with frequent use of advanced banking products.