In this video, Nick Hughes, Head of International Mobile Payment Solutions, Vodafone Group, talks about their product M-Pesa in Kenya- a mobile payment service which allows customers with a prepaid phone to move money between accounts. Vodafone has promoted M-Pesa as a mobile payment service that is quick, convenient and secure. He further explains the simple process in which M-Pesa works. Talking about Vodafone’s expansion plan in other parts of the world, Nick enlists the reasons behind the success of M-Pesa.
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Institutional Culture and Transformation: From NGOs to Market-led MFIs
The transformation of microfinance NGOs into a more regulated legal form is seen as one of the most effective strategies for achieving scale and sustainability. However, transformation requires a significant change in institutional culture, affecting stakeholders at all levels – from clients and field staff to managers and board members. This note focuses on the experiences of Indian NGO-MFIs, and looks at what to expect and how to manage the institutional culture shift that accompanies transformation.
Client Protection Campaign The Role Of Funders And Governments
In this video, Kate McKee, Senior Advisor, CGAP, taking the discussion further on Client Protection Campaign enlists the role of funders and government towards creating healthy environment for the customers. Explaining the role donors and investors, Kate says that funders must set the right incentives and support providers to put better policies into practice. While talking about the role of the government, Kate says government regulation and involvement in client protection is very complex.
Client Protection Campaign The Role Of Providers
In this video, Kate McKee, Senior Advisor, CGAP, talks about Client Protection Campaign launched by the MFIs. Kate shares that MFIs have come together for the support of client protection and it includes providers, international organisations, donors, individuals etc. All have come together to raise awareness for client protection and support learning process across the industry. Simultaneously, Kate emphasises on setting up the right incentives by investors to ensure that client protection is exercised by MFIs. She says though regulation is good for the industry market regulation by Governments may adversely affect the centre.
Six Core Principles Of Client Protection
In this video, Kate McKee, Senior Advisor, CGAP, explains the six core principles of client protection for responsible finance, namely, Transparency, Suitability of Product, Appropriate Collection Practices, Staff Ethics, Access to Effective Recourse by Clients, Data Privacy and Security. She also highlights two other issues: fair pricing and non-discrimination. She emphasises that transparency is the bedrock of client protection where all financial information should be explained to the clients in plain language. She further explains the other principals of responsible finance.
MFIs as Business Correspondents – To Be or Not to Be?
The Reserve Bank of India (RBI) has encouraged the use of Business Correspondents (BCs) as a means for promoting financial inclusion in India. This IFN examines the viability of the BC model for MFIs, based on field experiences in India.
This IFN defines the Business Correspondent Model and identifies the key stakeholders involved in the Indian case. It highlights the key growth impediments both at the policy and the operational levels, and examines the viability of the Business correspondent model in India.