Financial Inclusion in Action

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Agent Networks In India – How Mandates Have Influenced the Landscape

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There is a key difference in how the Digital Financial Services (DFS) market in India has evolved when compared to other countries. While in most countries the expansion of DFS along with agent networks has been driven by profit, the growth of DFS in India has essentially been the result of government mandates. The mandates… Continue reading

Designing an Effective User Interface for USSD: Part2

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In the first part of this blog series “Designing an effective user interface for USSD”, we presented a comparative analysis of various access channels used for accessing mobile money services. This blog presents the behavioural insights from the user perspective based on the recent research conducted by MicroSave with a leading MNO in five geographies.… Continue reading

Designing an Effective User Interface for USSD: Part 1

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Suraj is an illiterate migrant from Muzzafarpur (Bihar) who works at a construction site in Delhi. He has recently opened a mobile wallet with a leading mobile network operator (MNO) in India. When we met him, his primary concern was – “How would I use my (mobile money) account, when I don’t even know where… Continue reading

Responsible Digital Finance: Seven Customer Risks that Need Attention Now

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Digital financial services are growing globally, with a variety of offerings (more than 250) now serving 300 million people in developing markets according to the GSMA. However, inactivity rates are staggeringly high, with as many as two-thirds of registered digital financial services users inactive, and the cross-sale of products beyond simple person-to-person transfers in many markets… Continue reading

More Sophisticated Agent Networks Signal a Maturing Digital Finance Industry

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Agents are critical to the customer experience of digital money services because they represent the first and most tangible service touch points for most end users. Agent networks are also probably the most operationally burdensome and costly element of the digital financial service value chain, typically costing anywhere between 40 and 80 percent of revenues generated from… Continue reading

Solving Customer Service Issues in Digital Finance – Can Do, Must Do

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There is a growing interest in, and appreciation of the importance of, customer service in digital financial services (DFS), for reasons explained highlighted in the previous blog in this series  (See “In Our Digital Financial Service We Trust?”). GSMA recently released a code of conduct for mobile money service providers. CGAP is also playing a… 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

Should Microfinance Go Digital?

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“Nothing is as powerful as an idea whose time has come”- Victor Hugo Recently, a new partnership has emerged between digital financial service providers and microfinance institutions to address the challenges of financial access among the un/under banked populations globally. The partnership can potentially offer benefits to not only the two partners but also other… Continue reading

Anchoring Agent Commissions: How Much is Enough?

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How much does an agent need to earn to be satisfied, and stay motivated enough to provide a high quality of service to customers? Behavioral science teaches us that people anchor their appraisals of value to other numbers around them in the ecosystem. Marketing firms understand this concept well, often enticing us to perceive a… Continue reading

The Ebbs & Flows of Liquidity Management

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Advanced Liquidity Management: While liquidity management is consistently cited as one of the most challenging elements of managing an agent network, there are times when it is more difficult than others.  People’s need to deposit, withdraw and send value fluctuates quite considerably, and so while an agent might understand how much e-float and cash to… Continue reading