This shows that people are now moving towards using a broader portfolio of financial services and products to satisfy their needs. The use of combinations of all formal prudential, formal non-prudential, other formal and informal financial services except the excluded has been rising from 16% in 2006 to 25% in 2009 and to 29% in 2013.
These patterns demonstrate that financial sector participants require choices and therefore the need to maintain diversity and encourage competition amongst providers of the different financial products in different market segments.