Tag Archives: unbanked

First world trends: Financial inclusion, the unbanked, and the prepaid business model

The Economist explains just how expensive banking can be for the lower income population, even in the United States. Financial inclusion for the unbanked and underbanked must include cost/benefit analysis based on the limitations of income streams of those whom they hope to serve. The cost of ownership is often overlooked in current day literature, […]

Posted in Analysis, Assumption filter, Banking, Business Models, Consumer Behaviour, Economy, Expenses, Flexibility, Income, Innovation Planning, Marketing, Perspective, Prepaid Economy & Informal Sector, urban | Also tagged , , , , , , , , , | Leave a comment

Lessons for Formal Finance from Informal financial services

  On one of my many field explorations on rural financial services,  I found out, that for one mama biashara, as soon as payment checks in, she withdraws all her funds from her local coffee SACCO account, and spreads it out via micro-deposits across her more than 5 local informal savings groups (from right to […]

Posted in Assumption filter, Cashless transactions, Informal & Flexible, Kenya, Mama Biashara, Mobile platform, Perspective, rural, Rural Economy, Savings | Also tagged , , , , , , , , , , , | 1 Response

Creative ways to financial inclusion, inspired by observing practice

Needless to say, mobile money has been a wild success in scaling an expansive agent network for converting cash to e-money and enabling person to person money transfer. Speaking at a recent conference, John Staley, Chief Officer – Finance, Innovation and Technology at Equity Bank had this to say: “We should move the conversation from […]

Posted in Assumption filter, Banking, Base of the Pyramid, Cattle, Culture, Kenya, Livestock, Loans, Perspective, Philipines, rural, Rural Economy, Savings, urban | Also tagged , , , , | Leave a comment

Banking on Trust

Following up on the Reserve Bank of India announcement to allow small shops and phone kiosks, etc to handle basic services on behalf of banks – I directed questions around potential receptivity amongst Dharavi residents.

Posted in Banking, Base of the Pyramid, India, Informal & Flexible, Loans, Research, urban | Also tagged , , , | Leave a comment

Indian Banking Widens Reach

Yesterday’s Times of India pointed to a development by the Reserve Bank of India (RBI) to extend its services. It has yet to be seen how this initiative will be taken up by BoP users both rurally and in urban neighbourhoods not currently not served by banks.

Posted in Banking, India, Perspective, Research | Also tagged , , | 1 Response