Customer delight is no longer a ‘nice-to-have’ strategy, but increasingly recognised as integral to any sound business-model. While customer service and support is important for any product, it is vital for financial services that deal with people’s money. It is even more significant in the context of the illiterate/semi-literate poor, having their very first experience with financial services delivered through non-traditional channels, outside bank branches through retailers or business correspondent agents. This Note examines various dimensions around enhancing customer experience. E/M-banking systems depend on above all on clients’ trust. Customer service is key to building and maintaining that trust.
Blog
E/M-Banking in India: State of the Agent Network
MicroSave and College of Agricultural Banking (CAB), RBI recently organised a conference in Pune on the subject – ‘Business Correspondent Model for Financial Inclusion – Lessons Learned and Mapping the Future’. The aim was to focus on the changes in financial landscapes of the country and its issues and challenges faced; and stimulate discussion and exchange of perspectives amongst the banks, BC networks, mobile network operators, and technology service providers, researchers, MFIs and other stakeholders.
Why Do People Not Join or Drop Out of SHGs?
MicroSave conducted this study to assess the reasons for women not joining or dropping out from SHGs in Andhra Pradesh, and to provide recommendations to financial service providers to address the issues and concerns of clients by devising appropriate solutions.
Poverty Measurement: Challenges and Benefits
Poverty is multifaceted and highly complex. This Note highlights the practical challenges in the use of poverty measurement tools, as well as the benefits of their use for MFIs. If meaningful interventions are to be made to improve the lives of poor clients, it is essential that we collect relevant information. The poverty measurement tools available may not be perfect, but they provide a fairly good understanding of the client base. While quantitative poverty tools may be useful when used correctly, MicroSave believes qualitative research techniques such as focus group discussions and participatory rapid appraisal tools are essential to capture deeper insights for better understanding of clients.
Responsible Finance: Concepts and Challenges
Responsible finance (RF) is simply offering financial services in an accountable, transparent and ethical manner. By definition, responsible finance must focus on financial service providers, (their practices, what they do or do not do) and on clients, (mainly aimed at improving their capacities to access and use high quality financial services). Responsible finance is clearly essential for the longer-term success of any financial service business serving the poor. This Note highlights the relationship between responsible finance, social performance management and client protection and discusses the opportunities and challenges for MFIs trying to deliver services to the poor in a responsible manner.
Clients on Client Protection
MicroSave conducted Client Research on Client Protection in three countries – India, Bangladesh and the Philippines – during February 2012 to April 2012 with 357 clients. For the purpose of research, MicroSave developed a qualitative market research tool – ServQual – to gain clients insights on CPPs. This report presents (a) the evolution of the research tool, (b) results from the research including clients’ perspective on relative importance of each of the CPPs and performance of the organisations in implementation of CPPs, and (c) suggestions on the way forward.