PIN sharing is recurring problem amongst mobile money users. However, providers should realize that when people do something with a product that they are not intended to, the reaction shouldn’t be “educate!” but rather to see what about the product can be changed to accommodate the behavior of the customer in a better way.
The competitiveness and sizable growth of microlending in the Andean Region can be largely attributed to the favorable regulatory framework, but the creativity of the stakeholders in the industry has been an important factor as well. The supervisory authorities in the region’s financial sector have recognized the importance of microlending in the promotion of financial inclusion and have gradually created an environment that has been open to creativity and has enabled the different players to come up with financial services for previously underserved populations in rural areas.
There are an estimated 1.2 billion young people around the world between the ages of 15-24, with the vast majority living in developing countries. Whether countries are able to harness the potential of the vast numbers of youth in their economies will depend in part on how they manage the individual transitions that youth make in their lives.
Last week the Smart Campaign launched the much-anticipated Client Protection Certification Program, an independent, third party evaluation to publicly recognize financial institutions that meet adequate standards of care in how they treat clients. This post launches a short series that offers different perspectives on how certification can benefit clients, individual MFIs, and the broader sector. This post shares how AFD and FMO, the Dutch Development Finance Institution, are supporting client protection improvements in Cambodia.
Effective self-regulation rests on two key components: a transparent and consistent standard to measure compliance and a credible mechanism to ensure that it can be enforced. Smart Certification provides that standard. What could provide its enforcement?
Effective coaching–designed to impart basic financial education and livelihood skills– is a critical ingredient of programs aiming to graduate households out of extreme poverty. How can we more effectively train coaches to address differentiated needs? Impact research plays a crucial role in filling this knowledge gap.
Portfolios of Rwanda is a new report that analyzes the daily cash flows of Rwandan households to better understand their financial needs. In many cases, the challenge is no longer an issue of access to financial services, but one of relevant products.
Recently CGAP has worked in three countries with a variety of partners to generate demand-side insights and design innovative products that work better for low-income households, using what has come to be known as “human-centered design."