Financial Inclusion in Action

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Can instant messenger disrupt the digital payments market in India?

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What’s up with WhatsApp? Have you ever wondered about the idea of sending anything other than photos, emojis, videos and web links through popular instant messenger (IM) apps to your friends? Have you ever wanted to send money to a friend instantly when she reminds you about the bill that you were supposed to split,… Continue reading

The Four Zones: A Missing Chapter in the Financial Inclusion Guidebook

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As of March 24, 2017, a little more than 9 million dormant PMJDY accounts were frozen, because the account holders had not transacted in over a year. A great deal of effort has gone into government initiatives to increase financial inclusion, but perforamance indicators such as dormancy in the PMJDY accounts is a reason for… Continue reading

Learnings from Cash Economy for DFS Providers

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Shakuntala is a 48-year old housewife, staying with her husband, two sons, their wives and a grandson in Siswan village, Varanasi. Her husband manages all the household expenses. In his absence, she goes to buy groceries at times. She, however, is solely responsible for purchasing clothes and jewellery for all the family members during the… Continue reading

Lessons from Orality for Digital Financial Services Development

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At 6:30 a.m.,in a busy wholesale vegetable market on the outskirts of Varanasi, Shanti Devi is haggling with the wholesale vendor of cauliflower. The price is negotiated at ₹300 a sack. Shanti takes out two ₹500 currency notes from her batua (cloth purse) and hands it to the vendor for two sacks. The vendor hands… Continue reading

Demand and Supply Side Challenges and Potential Opportunities for Agency Banking in Uganda

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The Financial Institutions (Amendment) Act 2016, enabled agency banking in Uganda. What can financial institutions launching agency banking learn from existing data on the banking sector, from experience of mobile money, and from client expectations. The Financial Sector Deepening Programme (FSD) Uganda, commissioned MicroSave to find out. Teams from MicroSave conducted interviews and focus group… Continue reading

From OTC to Mobile Accounts: Easypaisa’s Journey

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In 2009, Pakistan spearheaded the over the counter (OTC) transaction revolution. But in the summer of 2017, the digital financial services (DFS) landscape may experience a watershed moment. In June 2016, the State Bank of Pakistan (SBP) announced that as of July 2017, all branchless banking players offering OTC transactions will be required to use… 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

Do Financial Service Providers Really Understand Savings Group Members?

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  The 2016 State of Linkage Report found that 40% of financial service providers (FSPs) currently providing savings and credit products to savings groups (SGs) worldwide are in Kenya, Tanzania and Uganda. With an estimated combined SG population of 3.5 million, FSPs in these three countries may recognise the potential of this market – but how… Continue reading

Learning from (and about) India´s Emerging Digital Money Grid

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  The Government of India has embarked on a remarkable path to connect all its citizens onto a digital platform through which they can, in real-time, confirm their identity, financially transact with anyone else, and store relevant documentation in natively digital format and consent to it being shared digitally with others (for instance, to support… 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