This first post in this series lays out a conceptual map of the data landscape and takes a closer look at the supply-side data gathering efforts worldwide. It is important to note that while various initiatives have begun to look at the wider financial inclusion data architecture from the supply and demand-side, branchless banking and mobile money data is still missing from many datasets or is poorly represented.
The second post in a series on the emerging branchless banking data architecture focuses on the demand side of the data equation and attempts to answer questions such as: which clients are using which products for which purpose? What aspects of a service are they satisfied or dissatisfied with? And, perhaps most importantly, is the service having a positive impact on their general well-being?
The second post in our series described the importance of demand-side data for understanding consumers and their financial habits and needs. Various organizations are contributing to the global pool of demand-side data in branchless banking and in this post we’ll focus on two of the main sources. The Financial Inclusion Tracking Surveys (FITS) are annual household panel surveys in Uganda, Tanzania, and Pakistan while the Tanzania Mobile Money Tracker Study (TMMT) uses quarterly surveys to track market trends. Both are being carried out by InterMedia and the Bill & Melinda Gates Foundation. In this post, we’ll highlight some of the analysis on rural and urban households to demonstrate the actionable insights that can be gathered from such datasets.
Mexico has 27 million households. Twenty-two million of them are middle and low income. Even though banks reach them physically, almost none of these people choose to use bank accounts to manage their money. Watch this eight-minute video in which Xavier faz talks with five low income Mexicans about their day-to-day money management strategies.
Until recently, Zoona, formerly known as Mobile Transactions could have been considered the best kept secret in Africa. Operating in Zambia on a shoe-string budget, they have been developing their own unique business model for electronic financial services slowly and with little media attention. Now, as of February 2012, this small company has secured investments from three big investors, Omidyar Network, ACCION Frontier Investments, and Sarona Asset Management. All three are banking on the fact that Zoona’s experience and innovative approach to serving a range of consumers situates them to fill crucial gaps in the mobile money transactions and payments market in Africa.