Financial Inclusion in Action

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Mobile Banking Stumbles on Challenges in the Ugandan Market


The introduction of mobile banking in Uganda set expectations of overall improvement in customer experience. Mobile banking would ensure that customers spent less time in the bank since the queues would be significantly reduced. Customers would also enjoy convenience in transacting from wherever they wished. Unfortunately, both adoption and use of this channel have been… Continue reading

More Than Hygiene – Improving Agent Network Performance to Maximise Profitability


Over the last four years, as part of the Agent Network Accelerator (ANA) project, we have interviewed more than 34,000 agents from over 40 leading providers of digital financial services (DFS) across 11 countries in Asia and Africa. So what did we learn? Agent Dedication and Exclusivity is Declining We see a general trend towards… Continue reading

Demand and Supply Side Challenges and Potential Opportunities for Agency Banking in Uganda


The Financial Institutions (Amendment) Act 2016, enabled agency banking in Uganda. What can financial institutions launching agency banking learn from existing data on the banking sector, from experience of mobile money, and from client expectations. The Financial Sector Deepening Programme (FSD) Uganda, commissioned MicroSave to find out. Teams from MicroSave conducted interviews and focus group… Continue reading

Designing User-Friendly USSD Interface for Digital Financial Services


According to Finscope 2014, it is estimated that 33% of Malawians have access to formal financial services. For any non-urban individual in Malawi, travelling to the nearest bank takes an average of more than an hour and a quarter. By contrast, 50% of adult Malawians have access to a mobile phone, 20% are aware about mobile… Continue reading

Working Together to Fight DFS Fraud


Fraud is one of the major threats to the emergence and sustainability of the DFS ecosystem. Uganda’s DFS market has long been plagued by fraud. The Helix 2015 ANA Uganda Report revealed that 53% of Uganda’s mobile money agents have experienced fraud within the last year – either personally or through one of their employees. At the recent launch of… Continue reading

Building a Business Case for Women Agents


Women agents provide great customer service. They are more attentive, helpful, diligent, and effective at building trust. They are also better at on-boarding women and other underserved populations than their male counterparts. These are often cited conclusions from a series of qualitative studies in India, Zambia, and other markets across Asia and Africa. At the same time, we still… Continue reading

Predictions for Regulators of Digital Financial Services

It is always dangerous to make predictions in an industry which is expanding and evolving rapidly, so it is with trepidation that I now do so. However, the predictions below are based on market insights and observations from working many years within the mass retail financial sectors and in Digital Financial Services (DFS). 1. DFS will… Continue reading

Digital Finance and Illiteracy: Four Critical Risks


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

Responsible Digital Finance: Seven Customer Risks that Need Attention Now


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

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


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