Financial Inclusion in Action

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Over the Counter (OTC) Money Transfer in India: The Remittance Silver Bullet for Migrants

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“Ready money is Aladdin’s lamp”― Lord Byron Globally, mobile money services are being offered primarily over the counter (OTC). This underlines the demand for readily available, quick and convenient fund transfer services. For instance, 90% of WING’s transactions in Cambodia, 70% of EasyPaisa’s transactions in Pakistan, and 50% of bKash’s transactions in Bangladesh are OTC based. Due to… Continue reading

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

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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

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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

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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

Our Top Picks in 2015

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Disseminating knowledge to aid sectoral growth has always been a critical aspect of our work. In the year 2015, we continued to accentuate our efforts to reach out to the readers with best of our research work; evaluation of industry developments and challenges ahead. In this blog we present a collection our top viewed publications:… Continue reading

Top Blogs in Financial Inclusion – Pick your favourite

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Disseminating knowledge to aid sectoral growth has always been a critical aspect of our work. In the year 2015, we continued to accentuate our efforts to reach out to the readers with best of our research work, our evaluation of industry developments and published over 31 blogs. Here are our top viewed blogs: Over the… Continue reading

Role of Bank Mitrs in Direct Benefit Transfer Ecosystem: Are Banks and Government Ignoring Their Brand Ambassadors?

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The direct benefit transfer (DBT) programme is an important and far-reaching initiative of the Government of India. The successful rollout of DBTL (DBT for subsidy transfer of domestic LPG) could save Rs. 7,700 crore (USD 1.167 billion) for the government. This is about 38% of subsidy budget of Rs. 20,000 crore (USD 3.01  billion) for… Continue reading

Embracing A Market-led Approach To Developing Product Concepts

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According to the World Bank’s Global Financial Inclusion Database, more than 2.5 billion adults do not have an account at a financial institution. Among the many factors that are responsible for this high level of financial exclusion, poor design of financial products is key. Why, then, is it so difficult to design financial services for… Continue reading

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

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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

Training, Monitoring & Support – Necessary Or An Opportunity To Cut Costs?

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While only 27% of agent network managers receive good support and involvement from the banks for which they are providing services, another 55%  do say that they receive moderate support, as per MicroSave’s recent State of the Industry Report 2015 on India note. The India 2015 ANA survey results enable us to understand this further by… Continue reading