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Overview
The Architectures of Trust in Financial Inclusion Systems project examines how trust, transparency, and product design shape financial inclusion in Medellín, Colombia. Led by researchers at the University of Oxford, York University (Toronto), and the Interledger Foundation, the project explores how individuals evaluate financial products and the institutions that provide them, with a particular focus on vulnerable households that are often underserved by formal financial systems. The project is funded by the Interledger Foundation and contributes to growing international debates on inclusive finance, consumer protection, and equitable economic development.
Financial inclusion is frequently understood in terms of access: whether individuals have access to bank accounts, credit products, insurance, or digital payment systems. However, access alone does not guarantee meaningful participation in financial systems. Many individuals may avoid using available products because they perceive them as risky, confusing, expensive, or untrustworthy. Others may engage with financial services without fully understanding the terms, conditions, or risks involved. In this context, transparency and trust are central to financial inclusion, influencing both decision-making and long-term engagement with formal financial institutions.
Medellín provides an important setting for this research because it combines a relatively developed financial sector with persistent inequalities in income, access to information, and economic opportunity. The project therefore seeks to understand not only what kinds of financial products people prefer, but also why they prefer them and how those preferences are shaped by broader social and institutional relationships.
Principal Investigator
Carlos Vargas-Silva, Professor in Migration Studies, University of Oxford
Researchers
Isabel Ruiz, Professor of Political Economy, University of Oxford
Anna Sheard, Communications Director, Interledger Foundation
Yvonne Su, Associate Professor, York University