Financial Inclusion in Action

Read, Share, and Discuss

Delivering Quality in Financial Services – Redefining Customer Service

Let’s face it: we’ve all had problems with our bank or financial service provider; there have been times when we’ve sat across from a Customer Service Officer (CSO) and been unhappy about the answers we’ve been given. A few years ago, this very challenge led my colleagues and myself to think that there was a… Continue reading

Customer Protection in Indian Digital Financial Services: Part 2: Transparency and Privacy

Header3c

MicroSave’s study for the Omidyar Network on customer protection, risk and financial capability in India sought to understand the extent to which customer protection practices were embedded into DFS offerings in India. The research examined the effectiveness of these customer protection practices and the ease with which customers and agents could access them. In the… Continue reading

Customer Protection in Indian Digital Financial Services: Part 1: Recourse

Header3c

There is growing concern about customer protection. This can be seen from initiatives such as Code of Conduct for mobile money players by GSMA, the update of the SMART Campaign’s client protection to create principles for DFS. These initiatives represent industry-wide commitments to build awareness, better practices, and standards that could contribute to strengthening customer… Continue reading

Real and Perceived Risk in Indian Digital Financial Services

Header3c

The risks associated with digital financial services (DFS) are varied and a growing area of attention and assessment. At the same time, digital payments and broader digital financial services introduce added complexity, with new participants constantly entering the market, new products regularly introduced, and value-chain dynamics in constant flux. In MicroSave’s recent research for the… Continue reading

Time for Action! Customer Service, Protection and Trust in Indian Digital Financial Services

Header3c

Gayatri Devi lives in Ghumka village in Chhattisgarh. She takes care of an extended family of eight. Her husband works in a cloth mill in Gujarat, and comes home once in 6 months. He sends money every month for household expenditures, some of which Gayatri deposits at the agent point in her village. Women are… Continue reading

The Ebb and Flow of Customer-Centricity in Financial Inclusion Part 3 – What Happened and Where Are We Today?

Header3c

In the previous blog “The Ebb and Flow of Customer-Centricity in Financial Inclusion Part 2 – Beyond the Basics” we discussed the details of building a customer-centric, or market-led financial service provider – and the intricate jigsaw puzzle of skills, processes, incentives, planning and execution required to pull it off. Results So, did all of… Continue reading

The Ebb and Flow of Customer-Centricity in Financial Inclusion Part 2 – Beyond the Basics

Header3c

In the first part of this blog, we saw how just understanding customer demand is not enough to deliver mass financial inclusion … or even a successful product. Supply-side factors are key…if rather more difficult that a quick market research exercise. Even after careful pilot-testing and a structure roll-out, it turned out that all that… Continue reading

The Ebb and Flow of Customer-Centricity in Financial Inclusion Part 1 – Why Being Customer-Centric is a Supply Side Strategy

Header3c

In recent years Human Centred Design became a new focus area in the financial inclusion world.  It focused financial service providers on the design of products and services based on customer insights. Design firms became part of the technical provider fraternity, servicing financial service providers in the quest to improved inclusion. At the same time, the… Continue reading

Are the $2 Billion Annual Savings Arising from PAHAL Real?

Header3c

The Ministry of Petroleum and Natural Gas (MoPNG), Government of India announced its ambitious “Direct Benefit Transfer for Liquefied Petroleum Gas (DBTL)” programme on January 1, 2013. The programme had two key objectives: i) limiting subsidy outlay through de-duplication; and ii) achieving efficiency in payment transfers. Aadhaar, the unique identification system was the backbone of… Continue reading

Customer Service – More Than Just Smiles

Header3c

With the renewed interest in client-centricity, it seems appropriate to recall the core role of customer service in serving the low income market. In our research, MicroSave consistently sees “how I am treated by the staff (or agents) of the institution” in the top 3-4 drivers of customer choice of service provider as well as… Continue reading