This video, from the second Financial Inclusion Roundtable hosted by FSD Kenya and IBM Research Africa features Ignacio Mas who proposes a framework for digitizing financial services that work for the poor and unbanked. You can find the slide deck here.
This note looks at product development for smaller growing businesses. Banks and other financial institutions are starting to understand that SMEs constitute a market segment of their own, and require financial products that address their particular needs. These needs are distinct from corporate products, because transaction sizes and numbers are smaller, but also from retail products because […]
In November 2009 the Consultative Group to Assist the Poor (CGAP) and the Financial Sector Deepening Trust Kenya (FSD Kenya) provided a total of USD 540,000 to Mobile Ventures Kenya Limited (MVK) to enable MVK to pilot an innovative savings product delivered through the mobile channel. The product is Jipange KuSave (meaning “plan or organise […]
This paper shares the experience of designing and launching Jipange KuSave (JKS), a process that highlights the importance of iterative testing, vigilant innovation accounting, rapid customer development, and commercial model validation. It also exposes the innovator’s dilemma in trying to provide savings services for the poor. Can licensed incumbents think beyond the short-term need to […]