Financial Inclusion in Action

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How Can Providers Make Digital Credit More Profitable?

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Many commentators have raised concerns about the interest rates charged for digital credit. And, given that the entire process is automated and dependent on computer algorithms rather than expensive human intervention and analysis, this seems reasonable. On the face of it, it is strange that the interest rates charged for digital credit should be closer… Continue reading

Digital Credit – Have We Not Been Here Before With Microfinance?

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I worry that I may be getting old and cynical; but I am quite sure I’m suffering déjà vu. As we continue to celebrate the important breakthrough that digital credit provides in efforts to lend to the poor, I cannot help myself comparing it with microfinance. The parallels are clear to see: Insufficient emphasis on… Continue reading

Redefining Retail Banking – Agency and Beyond

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Agency banking offers the prospect of much greater access to financial services for large numbers of currently unbanked or underbanked individuals – through financial institutions rolling out financial services using third party agents. However, agency banking is simply the latest element in a much wider technology-driven revolution in banking. Technology is redefining banking across the… Continue reading

Designing User-Friendly USSD Interface for Digital Financial Services

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According to Finscope 2014, it is estimated that 33% of Malawians have access to formal financial services. For any non-urban individual in Malawi, travelling to the nearest bank takes an average of more than an hour and a quarter. By contrast, 50% of adult Malawians have access to a mobile phone, 20% are aware about mobile… Continue reading

Key New Year Resolutions for the Success of Digital Financial Services

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First of all, let me reaffirm my belief that digital financial services (DFS) really do have the potential to provide financial inclusion for many (but perhaps not all) of the 2 billion un-banked. Its potential to reduce the costs of providing a range of financial services is an exciting prospect for those of us who… Continue reading

Top Blogs from 2016

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  Presenting MicroSave's top picks for the year. Do you see your favourite blog here? e-KYC and the India Stack – A Transformative Blueprint for Emerging Markets Billions of people around the world are required to meet know your customer (KYC) norms to avail of services considerably important to their lives. Yet, widely prevalent archaic… Continue reading

Building a Business Case for Women Agents

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Women agents provide great customer service. They are more attentive, helpful, diligent, and effective at building trust. They are also better at on-boarding women and other underserved populations than their male counterparts. These are often cited conclusions from a series of qualitative studies in India, Zambia, and other markets across Asia and Africa. At the same time, we still… Continue reading

Demystifying the Role of Master Agents

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Agents are deemed the lynchpin of any successful digital finance (mobile money or agent banking) roll-out. A plethora of literature has been written about the role they play in building successful and sustainable digital finance businesses.  Less attention has been paid to the critical work of Master Agents who constitute an important, if not crucial, element in the agent-based… Continue reading

Burgeoning ‘Typhoons’ in Digital Financial Services

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Typhoons are great engines of destruction. When a typhoon makes landfall it often produces a devastating storm surge that destroys everything in its path without mercy. The best defence against a typhoon is an accurate forecast that gives people time and means to get out of its way. It is therefore prudent to watch, watch… Continue reading

Customer Vulnerability, Trust and Risk in Indian Digital Financial Services

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Qualitative research done as a part of MicroSave’s study for the Omidyar Network on customer production, risk and financial capability in India shows that customers’ perceptions of banking or financial transactions are still focused on brick and mortar based services. DFS providers have not done enough to change the customer’s perception and gain trust. The… Continue reading