It will, for instance, become clear, that a very basic account with some restrictions on amounts and transactions can be obtained with no official documents whatsoever. Competition to prevent exploitation As I have argued, the excluded are typically risky, as well as costly to service. At the same time, they are also liable to exploitation because they have so little access.
Exploitation may come from a moneylender who charges usurious rates, or a banker demanding personal gratification for giving a government-subsidised loan. The fundamental way to deal with exploitation is to increase competition amongst suppliers of financial services. Regulation can help, but we should be careful that regulation does not shut out competition, thus enhancing exploitation.