Extract of the Introduction

Financial exclusion is an important economic and social problem that has been present worldwide for thousands of years, albeit in different forms. But it was not until the second half of the 20th century that the changes taking place in the market of financial services have drawn the interest of scientists to the subject. In a narrow sense, the issue is connected with a lack of access to basic banking services. In a broader sense, it means the inability to use a set of financial products and services that would be optimum for the individual. 

Financial exclusion can affect every member of a particular community, not withstanding their place of living, age, sex or financial status. It directly affects the individual’s quality of life and may lead to their social exclusion. Financial exclusion is caused on the one hand by the representatives of the supply side, i.e. banks and financial institutions, which may, in the implementation of their strategy, limit access to their services for specific groups of customers. On the other hand, it is caused by the representatives of the demand side, i.e. the customers, who take actions on that market guided by economic and behavioural reasons. So the actual presence of the phenomenon in question depends not only on financial factors but also on the attitude of prospective customers to the use of financial services and on the level of financial education of the society.