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This study aims to explore how banks in Nigeria are marketing financial services to financially vulnerable customers.

A multiple case study research strategy was used to analyse three commercial banks and two microfinance banks. Data were collected using semi-structured interviews with the banks' directors as well as from banks' published annual reports and archival images.

The study reveals that Nigerian banks develop different product development portfolios, adopt innovative traditional marketing schemes and apply inclusive technologies to reach and extend services to the unbanked and financially vulnerable customers in the society.

Banks should focus on consumer engagement through the proactive development of technologies and employ innovative marketing methods. Customers' banking experiences can be enhanced if banks communicate with and educate customers about technological modes of engagement. In addition, financial service transaction support and financial literacy education can assist banks in marketing their services to financially vulnerable customers, in mutually beneficial ways.

This study shows how financial service operators' market and extend their services to financially vulnerable customers in emerging markets. It empirically establishes the importance of financial services to financially excluded customers.

To understand the financial services experience and consumption in Nigeria from the perspectives of both the customers and managers. This study aims to explore this under-researched area and contribute towards a transformative financial service in the country.

Semi-structured interviews with 26 bank customers and seven top bank executives.

A conceptual framework, which has emerged from the analysis of the results, revealed three overarching factors that shape these experiences from the perspective of both consumers and managers – service maintenance, service technology and service dynamics.

For sustainable service maintenance, bank executives need to increase the overall level of transparency in their operations, particularly regarding bank charges, to ensure that customers are not subjected to hidden and unnecessary charges. The use of technology in service provision and delivery should play a prominent role. Managers should also provide innovative and user-friendly technology, communicating with customers and raising awareness of the benefits. Customers who are reluctant to adopt the technology should be educated and reassured. Recognising the service dynamics, managers should improve customer services and relationships, effectively manage the mobile money agent relationship and market new and relevant products to their target audience.

The understanding of the financial services experience and consumption of citizens and residents in the demonstrate how the appropriate programmes and policies that enhance financial inclusion could be introduced and implemented in the country. It enables financial service managers to improve their services to their customers and policymakers to develop timely, relevant and appropriate policies to address and/or bridge the identified gaps in financial inclusion. The understanding of the financial services experience and consumption of citizens and residents in the demonstrate how the appropriate programmes and policies that enhance financial inclusion could be introduced and implemented in the country.

Through the sampling, this paper reiterates the need for consumer engagement and collaborative customer-provider relationships in redesigning financial services. This aligns with the transformative research agenda, which aims to increase access to financial services, decrease disparity and ensure consumers’ financial well-being.