Financial Inclusion in Action

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Winter is coming: Key lessons on digital transformation for financial institutions

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In the previous blog, we discussed the “why” – a business case for digital transformation. In this blog, we look at the “how” – the detailed steps for digital transformation. Digitise processes Digital processes are quicker, more efficient and cheaper than manual processes. A digital transformation of processes reduces the cost and friction points of… Continue reading

Blankets and wine for financial inclusion – Beyond digital access

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Is registration for mobile accounts (wallets) really enough? What is an ideal measure of financial inclusion? The Alliance for Financial Inclusion (AFI) defines a core set of indicators for measuring financial inclusion. The first dimension is access to the services and products that formal financial institutions offer. Yet to achieve meaningful access, we have to… Continue reading

Winter is coming: Managing the digital onslaught

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In the previous blog of this series, we discussed the changing nature of the financial services industry. We talked about how digital disruption has had an impact on traditional financial institutions. In this blog, we discuss how the incumbents can bring about a digital transformation to utilise the disruptive power of technology and innovation. Traditional… Continue reading

Winter is coming: Digital disruption and its impact on the financial services industry

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The financial services industry is changing rapidly. A convergence of technology with finance, which, in turn, resulted in the emergence of FinTechs, has been changing the very fundamental nature of the financial industry. Apart from technology, demographic and cultural shifts continue to alter the financial services value chains. Traditional financial institutions are losing their market… Continue reading

Why do so Few Fintechs Focus on the Mass Market?

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Howls of disbelief and denial greeted the assertion in Can Fintech Really Deliver On Its Promise For Financial Inclusion? that “fintech is irrelevant for most villagers because providers have made little effort to tailor interfaces or use-cases for the low-income market.” At the time of writing, the vast majority of fintech providers across the globe… Continue reading

Consumer Protection in the Digital Age

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Why does consumer protection matter? In November 2017, in Can Fintech Really Deliver On Its Promise For Financial Inclusion?, we noted, “It is quite clear that till date, the regulatory environment and consumer protection provisions remain too weak to secure the poor. Many have already lost money in basic money transfer transactions. Millions are negatively… Continue reading

Fintechs for LMI segments – Tapping the untapped

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In our first blog in this series, we highlighted how the low- and middle-income (LMI) segments in India present immense opportunities for ecosystem players.  To read our report on the fintech landscape in India, click here   To know more about the Financial Inclusion Lab and to apply, click here These players may include fintechs,… Continue reading

Fintechs for LMI segments – Demystifying myths and delving into realities

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In our previous blog in this series, we presented recent trends in the fintech space in India. In that blog, we also defined the low- and middle-income (LMI) segments and examined the challenges that fintechs and investors face in catering to these segments.  To read our report on the fintech landscape in India, click here… Continue reading

Fintechs for LMI segments – What’s the intricate puzzle?

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In 2017, J.P.Morgan commissioned MicroSave and IIM Ahmedabad's Centre for Innovation Incubation and Entrepreneurship (CIIE) to undertake a study on the fintech  landscape in India. This comprehensive study focused on the low- and middle-income (LMI) segments in the country. The research team consulted over 60 stakeholders spread across various industries, institutions, leadership levels, and geographies.… Continue reading

Digital consumer credit: nano loans, macro problems

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Introduction Digital small and medium enterprise (SME) lending offers enormous potential to revolutionise access to credit for small businesses, which form the backbone of so many economies across the globe. With the digitisation of processes, SME businesses can be on-boarded, assessed, and receive a loan within 48 hours. Furthermore, since SME businesses leave much deeper… Continue reading