Social banking would seek to closely understand the requirements of customers and develop products that are best suited to their needs. They work towards developing technology leveraged models that bring down the costs of providing services and make banking affordable to the masses.
By extending the reach and penetration of banks, social banking tries to make banking services available to the marginalized segments of the society. Social banking also needs to promote inclusion to address poverty About 2.5 billion people across the globe do not have access to basic banking services.