Financial Inclusion in Action

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

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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

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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

Competition in the Kenyan Digital Finance Market: Digital Credit (Part 2 of 3)

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This is the second blog in a three part series, which compares digital financial service offerings in Kenya. The first blog focused on mobile money services and this second one delves into mobile banking services, focusing on digital credit.  These are certainly the most complicated but also the most exciting services given their potential to deepen financial inclusion… Continue reading

Competition in the Kenyan Digital Finance Market: Mobile Money (Part 1 of 3)

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There has been a great deal of international discourse on the topic of mobile money after Kenya’s successful implementation of M-PESA, and as we recently wrote, the success is increasingly shared by banks. This is a clear victory for Kenyan customers, who now have more options to choose from.  However it also means that the financial… Continue reading

Digital Finance and Illiteracy: Four Critical Risks

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For financial service providers trying to garner new clients in the developing world, illiteracy awareness is extremely important. Many countries around the developing world still have high rates of illiteracy, and most financial services are not designed well for illiterate users. This means that tens of millions of people around the world cannot be effectively… Continue reading

The Bricks and Mortar of Agent Networks: Training and Support in India

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While the first blog in this series explained how Indian Government mandates have determined the current character of the digital finance services (DFS) market in India, this blog is more forward looking, focusing on addressing issues of agent training and support.  The 2015 ANA India data shows that these are areas where providers are struggling, and are therefore also opportunities… Continue reading

Making Digital Financial Services Relevant – Part 3

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Some Design Ideas and Principles to Make Digital Financial Services Relevant Across the globe, there is an exponential growth in the adoption of technology and digital tools. Technology enabled advancements including smartphones, social media adoption and data usage are increasingly penetrating the mass market, in India as elsewhere. This is further accentuated by the ever-declining… Continue reading

Making Digital Financial Services Relevant – Part 2

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How do People Manage their Money? In part 1 of this blog series we looked at the customer profile for digital financial services. In this blog, we explore the mechanisms used by customers for managing money and the key drivers for adoption of these mechanisms. This blog post borrows quite heavily from Money Resolutions, A Sketch… Continue reading

Making Digital Money More Relevant, More Often – Part 1

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Who are the Customers? Adoption of digital financial services are growing year on year, across most developing country markets. GSMA, in its 2014 State of the Industry Report, states that mobile money is now present in 89 out of 135 markets, and in 16 countries the number of mobile money accounts exceeds the number of… Continue reading

Opportunities for Equitel to Disrupt Digital Finance in Kenya

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Equity Bank’s introduction of the thin SIM under the Equitel brand is an important development for the Kenyan financial market as it brings customers more choice in terms of providers, and will hopefully push product innovation further in a market that has had trouble evolving beyond payments.  We believe that to really make digital finance… Continue reading