Financial Empowerment – Glossary

Banking Services: Financial services provided by banks, including account management, payments, credit, and money transfers.

Consumer: An individual who purchases goods and services for personal use.

Digital Exclusion: The lack of access to digital technologies, such as the internet and computers, which prevents individuals from participating fully in modern society.

Digital Inclusion: Efforts and policies designed to ensure that all individuals and communities, including the most disadvantaged, have access to and use of information and communication technologies.

Digital Skills: The ability to use digital devices, communication applications, and networks to access and manage information.

Financial Exclusion: The lack of access to necessary financial services in mainstream banking systems that hinders an individual’s ability to fully participate in economic life.

Financial Inclusion: The availability and equality of opportunities to access financial services.

Financial Services: Economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including banks, credit-card companies, insurance companies, accountancy companies, consumer-finance companies, stock brokerages, investment funds, and some government-sponsored enterprises.

Internet Proficiency: The skill level and expertise an individual has in utilizing the internet effectively for various tasks.

Liquidity: The availability of liquid assets to a market or company. In personal finance, it often refers to the ease with which an individual can access funds or assets.

Socioeconomic: Relating to or concerned with the interaction of social and economic factors.