Digital Fintech Sectors | MSC Digital Finance Consulting Services

Diversification and digital transformation of HFC

MSC conducted a digital readiness assessment and provided HFC a proof of concept report. We provided project management services for the pilot and helped HFC launch its mobile application—HF Whizz. By the end of 2020, HFC acquired 200,000-plus new virtual accounts through the application, mobilized more than KES 100 million (USD 1 million) from these new accounts within a year, and saw transactions on their digital platforms grow by 20% to 1.24 million.

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Agent network study in India, Indonesia, and Kenya

MSC assessed the different pricing mechanisms for the distribution of digital transfers. MSC analyzed different social protection programs extensively in Asia and Africa. We developed a pricing tool and a dissemination strategy for program designers. We also formulated a handy reference for social program managers by analyzing approaches used to distribute transfers.

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Support to India Post Payments Bank (IPPB)

MSC supported IPPB in providing financial services to poor and rural communities. MSC planned to undertake a diagnostic study to conduct an institutional assessment for IPPB and provide insights on the current stage of its operations and challenges. At the time of writing, the expected outcomes are an efficient CICO network, suitable product and channel lines at the local level, streamlined G2P and bulk payment processes, and a comprehensive ecosystem of merchants to support customers at the last mile to drive digital transactions.

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Creating a multi-stakeholder partnership to set up a Lab for capital & technical support to Fintechs

MSC helped to set up a “Financial Inclusion Lab” that identifies, mentors and brings to scale early-stage FinTech startups. These startups address the issues faced by the underserved communities by developing innovative and technology-enabled solutions. So far, over 40 startups have been supported, impacting over a million customer, and 1000+MSMEs. Four major social investors fund the initiative with committed funding of USD 9.5 mn. The project demonstrates MSC’s ability to structure and implement multi-stakeholder projects, especially those involving the investors and service providers (startups), to achieve a developmental outcome.

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The i3 Program for LMI clients in Bangladesh and Vietnam

Under the Innovate, Implement, Impact (i3) Program, MSC works to optimize the design and delivery of products and services to meet the needs of low- and middle-income (LMI) clients. The i3 Program will make a direct difference to at least 400,000 under-served LMI clients over three years in Bangladesh and Vietnam.

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Developing women-centric DFS products for Bangladesh

MSC worked for IFC in Bangladesh to enhance financial inclusion among women through mobile financial services. We conducted an extensive research to understand the needs, requirements, and preferences of female MFS users in the country and designed two women-centric MFS products.

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Review of Vodafone M-Pesa’s user interface

MSC experts conducted primary research in five states in India to develop recommendations on improving the UI of M-Pesa’s USSD platform and suggestions for improvement in platform communications. The intervention had a positive impact on Vodafone India’s customer base of 3 million users at the time.

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Distribution 2.0—the future of mobile money distribution

GSMA wished to study the space of mobile money distribution networks and contracted MSC to conduct a market assessment of mobile money providers. MSC’s research exercise assessed and documented the leading new agent distribution networks. The resulting report is now one of the more popular downloads on GSMA’s website.

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Making digital credit truly responsible: Insights from analysis of digital credit in Kenya

In Kenya, the demand for digital credit is strong as a substitute for both informal and formal financial services is strong. Digital credit can harness significant financial inclusion for the demand side and commercial benefits for the supply side. There is room to enhance customer experience and protect well-being. Additionally, current ambiguities in regulation and […]

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Digital empowerment of women-led businesses

With the MetLife Foundation’s support, MSC has designed a global signature program for female entrepreneurs in India, Nepal, and Vietnam. The program’s focus areas are to build better livelihoods and income for these entrepreneurs, improve their financial health by enhancing their digital footprints, provide access to various financial services, and improve market linkage. MSC developed Sangini Konect, a platform under the program for women-led businesses in India. The platform supports them through various learning tools to grow their businesses and empowers them to improve their financial and digital capabilities.

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