Applied Product Innovation in Branchless Banking
This series looks into the efforts of various providers to launch product labs that demonstrate new ways of understanding clients, testing ideas and designing breakthrough products.
Customers often can’t or won’t tell you what they want, so you must work to dig down to what they really need. Valuable services not only meet a deeply-felt need, they tackle a poorly met need.
CGAP counted 22 branchless banking services with more than 1 million registered users; we also counted more than 70 others which have not reached that threshold (as of Q1 2011). That’s about a 1 in 4 “hit rate”.