Financial Inclusion in Action

Read, Share, and Discuss

Mobile internet access – the next frontier for ‘Tech’

Header3c

The ‘tech’ revolution depends on internet access The tech revolution is being heavily promoted as the answer to many of the development challenges with which we have been struggling for so many years. These advanced tech solutions can potentially address pressing issues related to financial, agricultural, educational, health, and enterprise sectors, among others. The vast… Continue reading

State of Play – Insights on the Evolution of Pakistan’s Mobile Money Agent Network

Header3c

The success of a branchless banking network is entirely dependent on the ability of its agents to deliver high-quality services to the target market, that are in line with providers’ objectives. Three years ago, the Helix Institute of Digital Finance’s team first set off to study Pakistan’s agent network and inform on its efficiency, providing insights for improvement, as… Continue reading

The Unrealised Potential of Mobile Wallets in Pakistan

Header3c

Currently, Over the Counter (OTC) transactions in Pakistan account for just over half (52%) of Branchless Banking Transactions[1] by value and less (42%) by volume. The vibrancy of OTC transactions could provide a stepping stone to mobile wallets. This, in turn, would enable the deepening of the digital financial ecosystem through advanced service offerings for… Continue reading

A First Look at Indonesia’s Emerging Agent Network

Header3c

Digital Financial Services (DFS) emerged in Indonesia in 2007, with e-money services targeted at the middle income and affluent segments rather than the unbanked and underbanked masses. In 2014, regulators allowed banks and e-money providers[1] to use individual agents, paving the way for the emergence of agent networks. Since then, financial inclusion has become an… Continue reading

Can Fintech Really Deliver On Its Promise For Financial Inclusion?

Header3c

At the recent MasterCard Foundation Symposium on Financial Inclusion, I was asked to participate in the closing debate. A great honour. However, I was asked to support the proposition that “Disruptive innovations in the financial sector can no longer respond to the daily challenges of poor people”. Ouch! For all my critiques of digital financial… Continue reading

Progress and Challenges with KYC and Digital ID

Header3c

Based on great inputs and discussions from Amrik Heyer, FSD Kenya, Stephen Mwaura, former Head of Payments, Central Bank of Kenya, Uma Shankar Paliwal, Former Executive Director, RBI, Dennis Njau, Head of Channels, Kenya Commercial Bank, Gang Chai, Payment Policy Manager, Central Bank of Nigeria, and Johnah Nzioki from Eclectics. “Identification provides a foundation for… Continue reading

Learnings from Cash Economy for DFS Providers

Header3c

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

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

Header3c

  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

Header3c

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

Offline Payment Acceptance: A Puzzle and an Opportunity

Header3c

As Indians, we love cash, which is fungible and provides instant gratification – allowing us to buy anything across the country. Cash speaks one language, does not discriminate, and provides a seamless experience!   RBI estimates that 96% of all the retail transactions in the country are conducted using cash, leaving only about 4% payments… Continue reading