This publication synthesizes learnings from across Zimbabwe, Senegal, Rwanda, and Cambodia, with the aim of providing financial service providers, donors, and other stakeholders with actionable insights into the ingredients for building successful, smallholder-specific digital financial services.
Understanding client exit and nonparticipation can shed important light on the financial service preferences of clients and help programs learn about the limitations of their existing products and mechanisms. Such lessons can drive the development of innovative, demand-driven microfinance products and systems, benefiting both the institution and the clients.
To develop a deeper and organizational level of understanding customers, a cross-functional team at Janalakshmi, a microfinance institution in India serving over a million customers in urban areas, applied a design thinking process facilitated by innovation consultants.This brochure describes the process and the tool used to create customer profiles.
Financial service providers have traditionally categorized low-income customers into a single market segment. The CGAP Customer Segmentation Toolkit is designed to help FSPs identify subsets of customers that have common needs, interests, and priorities – then design and implement targeted strategies.
Generating greater value for customers is good for business. Research from a developed market context has found that customer retention leads to a decrease in operating costs, while a decrease in customer satisfaction leads to a decrease in return on investment.
Financial services providers for low-income customers typically believe that their business case is based on expanding the number of accounts or the number of transactions made by these customers. This is only part of the equation to business success.
In April 1997, the CGAP Secretariat launched an experiment called the CGAP Pilot Microfinance Capacity-building Initiative in Africa. The initiative spanned East and West Africa and focused primarily on working with African training institutes to provide financial management courses to microfinance institutions (MFIs). The Pilot Initiative sought to build the foundation for the development of a market for quality training and technical assistance services offered on a sustainable basis in the region.
CGAP has conducted eight human-centered design projects in seven countries. The lessons from these projects highlight both the challenges ahead and a possible way forward when it comes to integrating mobile money into the lives of the poor.
This case study describes the Juntos platform, which aims to address the engagement gap between customers and providers. It describes how it works, what it can and cannot do, early results, and issues arising from initial implementations.