Michael & Susan Dell Foundation commissioned MSC to support Maitreya, a nascent non-banking financial company that focuses exclusively on microenterprise lending in India. MSC worked to help Maitreya refine and grow its microenterprise-lending product, and developed a product marketing and financial literacy tool. This tool would not only attract customers but also ensure brand engagement and develop Maitreya’s financial capability.
MSC created a story around a character with whom micro-entrepreneurs can relate to—Amol. Like other micro-entrepreneurs, Amol did not fully understand the sources of credit, the importance of credit score, and managing business records. We ensured that the story of Amol was available on the media of choice for Maitreya customers to allow them to engage at their own convenience. These media included platforms, such as YouTube, WhatsApp, Maitreya customer mobile app, the Maitreya website, and the smartphones of Maitreya field staff.
MSC also built systems so that the tools lead to real behavior change. We developed aids to check progress on financial capability development, distributed Maitreya-branded collaterals, such as cashbooks to encourage customers to develop a habit of maintaining business records, and integrated product market and financial capability with a regular loan monitoring process to ensure positive reinforcement of the message. We conducted training sessions with the management as well as field staff on the use of the tool. The tool helped Maitreya develop brand recognition among the target communities—which was critical in a market dominated by large, established brands. The tool is now widely used and available to all the Maitreya customers.