Financial Inclusion in Action

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How Smart are Smartphone Lending Apps in Kenya?

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The mobile digital credit revolution in Kenya has attracted many fintechs offering loans via smartphones. Smartphone-based products have been touted for their potential to improve the user experience for digital financial services, particularly among low literacy customers. However, the Consultative Group to Assist the Poor (CGAP) finds that in India existing interfaces fail to realise… Continue reading

Will Mobile Network Operators Make It As Payments Banks?

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Of the remaining eight provisional Payments Bank licensees, four involve mobile network operators (MNOs): Airtel, Idea, Vodafone, and Reliance Jio.    This is not surprising, since successful Payments Banks will require a large footprint to serve a massive customer base, as it will be a volume game. MNOs’ existing customer base and extensive agent networks… Continue reading

The Powerful Agents & Fractured Markets of Pakistan

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Pakistan is easily one of the top five leading digital finance markets in the world; yet also certainly one of the least understood.  Anyone striving to learn about it must first understand how the Over-the-Counter (OTC) methodology adopted in Pakistan works, as it operates uniquely compared to other markets, especially those where it is unregulated. … Continue reading

Why Do (Some) MNOs Sprint and (Most) Banks Limp?

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A previous MMU blog “Can India Achieve Financial Inclusion Without the Mobile Network Operators?” concluded “MNO-led systems therefore have a hugely important role to play to create the market – to build people’s confidence in digital financial services and local agent-based systems – and thus lay the foundation for digital financial inclusion.” All well and… Continue reading

Can India Achieve Financial Inclusion Without the Mobile Network Operators?

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India is attempting to create financial inclusion using direct benefit transfers as the flywheel that turns the engine of an electronic payment system, the creating volumes and interoperability necessary for real financial inclusion. Currently volumes at rural agents are simply not adequate – resulting in very low commissions and debilitating levels of agent churn. Furthermore,… Continue reading