MSC was commissioned to understand the needs and preferences of female mobile financial services (MFS) users in Bangladesh. We used our Market Insights for Innovation and Design (MI4ID) approach, which relies on behavioral research methods to conduct extensive in-depth research to understand female MFS users’ needs, requirements, and preferences. We designed two women-centric MFS products based on insights from the research and studied the demand and supply-side requirements. As a part of the project dissemination, MSC developed knowledge collaterals, such as policy briefs, focus notes, and blogs, and published them globally. After project completion, we disseminated key findings and collaterals at a national-level convention with key stakeholders.
IFC- World Bank commissioned the project.
MSC partnered with five non-bank financial institutions (NBFIs) to design, develop, and scale enterprise financing verticals targeted at urban and rural microenterprises. The project aimed to enhance access to credit for microenterprises in India.
To inform the intervention, MSC conducted comprehensive primary and secondary research to assess the credit needs, behaviors, and preferences of microenterprises. Based on these insights, we co-created tailored enterprise loan products with the partner institutions and formulated strategic plans for product roll out and scale-up.
MSC also developed robust operational policies and an integrated credit-scoring framework to assess client risk. We built institutional capacity to ensure sustainable delivery of microenterprise lending.The initiative included extensive pilot testing and subsequent rollout support. During the pilot phase alone, partner institutions disbursed microenterprise loans worth approximately USD 14.8 million and far exceeded the project’s original targets.
Michael & Susan Dell Foundation (MSDF) commissioned the project.
Shakti Foundation for Disadvantaged Women (SFDW), a leading microfinance institution (MFI) in Bangladesh, provides credit and savings products to low-income women. To reduce inherent risks of cash-intensive operations and diversify its offerings, SFDW sought to adopt digital solutions and expand its product portfolio.
MSC supported SFDW in its digital transformation journey and provided technical assistance to design and implement new financial products and processes. Our team introduced an MSME loan product and voluntary savings products intended to expand the customer base and enhance financial inclusion.
We co-created a mobile-based application with SFDW’s field and IT teams that enabled loan officers to perform core MFI operations using mobile phones. We also supported the design and pilot of agent-assisted savings deposit and withdrawal services to enhance client accessibility.
As part of the engagement, MSC conducted a strategic business planning workshop and designed an enterprise resource planning (ERP) system to streamline operations and enable real-time data access from the field. The field application was pilot-tested for usability, and product features were refined based on customer feedback and usage analytics.
As a result of MSC’s support, SFDW successfully opened over 350,000 voluntary savings accounts and built a portfolio valued at USD 10 million. The disbursement amount increased by 12 times, from BDT 87.3 million (USD 1.02 million) in July 2019 to BDT 1,108.07 million (USD 13.03 million) in June 2021.
This initiative has positioned SFDW to operate more efficiently, manage risks effectively, and better serve its growing customer base.
MetLife Foundation commissioned the project.
PT Bina Artha Ventura (BAV) is a non-bank microfinance institution in Indonesia that offers microfinance products to low-income people using the group-lending methodology. MSC was commissioned to provide technical advisory to BAV to expand its outreach and portfolio in microenterprise financing.
We supported BAV in product design, pilot planning and implementation, process design, capacity-building, and rollout. The advisory included demand-side research, credit product development, and the finalization of delivery channels for sourcing, disbursement, collection, and payments. We also helped design internal processes for operations, financial and accounts management, and human resource management.
The project concluded with the implementation of a pilot test. BAV now serves more than 25,000 MSMEs through this loan product.
IFC commissioned the project.
Micro and small enterprises (MSEs) in India, particularly women-owned businesses, continue to face significant barriers in accessing formal credit. These include limited access to tailored financial products, inadequate working capital support, and a lack of suitable digital financing channels. To address these challenges, MSC supported a high-impact initiative with India’s Principal Financial Institution (FI) for MSMEs to design and roll out digital enterprise financing solutions. The project aimed to unlock access to affordable credit and enterprise support services for MSEs—particularly women-owned enterprises—through technology-enabled, paperless financing models.
A key innovation under this initiative was the design of a digital, invoice-based financing (IBF) product tailored for fair price shop (FPS) dealers. In partnership with the Department of Food and Public Distribution (DFPD), the solution helped FPS owners access working capital credit against verified purchase invoices. This financing mechanism supported the transformation of over 500,000 FPS outlets into Jan Poshan Kendras (JPKs)—nutrition-focused retail points offering affordable, non-PDS food products.
In collaboration with the Principal FI, MSC led the development and pilot of the IBF solution. The product was iteratively tested and refined to address the liquidity constraints of FPS dealers, enable real-time credit access, and integrate it seamlessly with partner platforms. One pilot partner is now scaling the product across states, based on evidence generated through MSC’s engagement.
This initiative contributes to the Gates Foundation’s broader goal of driving inclusive financial access for underserved enterprises. Insights from this project inform future investments and policy efforts to build sustainable, tech-enabled credit solutions for women entrepreneurs and rural enterprises.
The Gates Foundation commissioned this project.
Across sub-Saharan Africa, many women who run small and informal businesses struggle to access affordable, productive credit. The impact of COVID-19 worsened this, limiting women’s ability to grow their enterprises and improve their livelihoods.
To address this, MSC developed a clear business case to expand microfinance solutions tailored to women-led businesses. We began by looking at what works, drawing lessons from successful models in Asia, Latin America, and parts of Africa. Our research focused on what enables financial institutions to deliver meaningful credit to women, which included supportive policies, strong delivery models, relevant partnerships, and products that can scale.
From over 130 financial institutions reviewed in Kenya and Uganda, we identified five with strong potential: KCB Kenya, BRAC Uganda, FINCA, Stanbic Kenya, and Stanbic Uganda. MSC partnered with each one to co-design and test credit products for small-scale women entrepreneurs. We supported them through every step, from shaping the product concept and testing prototypes, to developing pricing strategies and exploring alternative ways to assess creditworthiness.
We also provided guidance on how to unlock low-cost, long-term capital to support future growth through second-tier financing mechanisms.
This work has helped lay the foundation for financial products that meet the real needs of women entrepreneurs, offering both impact and sustainability.
The Gates Foundation commissioned this project.