The note examines why the take-up of m-banking services has often been slower than anticipated, and highlights the importance of financial education programmes. Using Malcolm Gladwell’s book “The Tipping Point: How Little Things Can Make a Big Difference,” this note describes three agents of change that create tipping points in the spread of various mobile financial services: strategic alliances/ partnerships and marketing agents; branding and building on initial uses of m-banking services; and the power of context – the customer value proposition.
Blog
SHARE Microfin Limited: Managing transformation for growth
This study describes SHARE’s journey through transformation, covering the organizational transformation and change management, growth strategies, as well as the brand management and market segmentation.
Future of M-Banking
In this video, Ignacio Mas, Senior Advisor, CGAP, discusses the future of m-banking in microfinance industry.
Future of M-Banking
In this video, Ignacio Mas, Senior Advisor, CGAP, discusses the future of m-banking in microfinance industry.
Mobile Banking Part 3
In this video series-3, Ignacio Mas, Senior Advisor, CGAP, discusses the role of various partners involved in making branch-less banking a sustainable business model. Ignacio talks about the numerous choices MFIs must make on various fronts such as technology, business model, product, marketing etc before adopting rolling out branchless banking channel. He emphasises on developing a practical business model where all the participants MFIs, telcos and agents work together to make branchless banking a success.
Pilot and Rollout Issues for Mobile Phone Banking Services
This note explains about strategies and provides guidance in handling the challenges and issues concerning institutional issues; regulatory & compliance issues; monitoring and feedback from customers and merchants during pilot test and rollout; partnership support and coordination in pilot testing and rolling out mobile phone banking services. Institutional issues include significant training for frontline and back office staff. Regulatory compliance issues must be addressed and it is important to get the regulators on board early. Pilot testing mobile phone banking applications can also be challenging due to the potential for exponential uptake which may make controlled pilot tests more difficult so most institutions at least start with their staff and selected clients in the beginning. Testing partner relationships whether they are between banks, MFIs, MNOs, or third party service providers, or combinations of all four, are important.