In this video, James Mwangi, CEO of Equity Bank, Kenya, discusses the key reasons behind the rapid growth of the bank. James attributes the following behind the success of Equity: the strategy of high volume low margin, business approach as the bank has focused the bottom of the pyramid, product, prices and services based on research. Further, the huge staff of about 4000 employees has been instrumental in the success of the bank and of course the support of the customers has made Equity a successful enterprise. Further, James acknowledges the strong partnership with MSC ever since the inception of Equity Bank and applauds MSC’s toolkits.
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Potential for E-/M-Banking Enabled Migrant Remittances
This note examines harnessing technology to optimise the delivery of remittance services – particularly for banks. It assesses the challenges for banks with the growing use of their core banking systems as a vehicle for remittances, and how they might transform these challenges into opportunities through using Banking Correspondents and e-/m-banking. It analyses whether remittance recipients in rural areas have access to, and the ability to use, mobile phones for this purpose.
Exploring Domestic Remittances as a New Line of Business for Indian MFIs
With the growing interest in remittances as an important product for the poor, this note assesses the options for microfinance institutions (MFIs). It looks at the demand for remittances, the structure of a potential remittance product, why and how MFIs might provide remittance services and the risks involved in doing so.
Migrant Remittances – An Untapped Market
There is huge business potential in domestic remittances from migrant labour in cities across India. This note analyses the demand side, analysing the four basic types of migrants and three types of recipients, their livelihoods and their remittance behaviour. It then examines what remitters and recipients look for in a remittance product.
Financial Crisis Impact on MFIs and their Clients Part 2
In this video series-2, Elizabeth Littlefield, CEO, CGAP, takes the discussion further on Financial Crisis and its impact on MFIs. She explains why MFIs cannot fail and why in some markets MFIs need to distinguish itself from mainstream profit maximising consumer credit. She further explains the important role CGAP plays in dealing with the crisis.
Recruiting and Retaining a Large Workforce – Lessons from the BPO Sector
To improve human resource management, microfinance institutions (MFIs) can usefully draw relevant lessons from the Call Centre/Business Process Outsourcing (BPO) industry, which has a lot of similarities in terms or managing a large workforce. This note draws lessons from the BPO industry and concludes that managing a large workforce is no longer about providing a life-time career option to all employees, but rather to ensure that the time staff members spend with the organisation is fruitful and mutually beneficial. The objective is to inculcate a long-term symbiotic relationship between the employer and the employee.