Enabling the community to embrace digital payments as the new normal after the COVID-19 pandemic
Since the onset of the pandemic, the low- and moderate-income (LMI) segment had a direct impact on their day-to-day life. We reflect through Kabita, an LMI customer in Bangladesh, on the barriers LMIs faced during the pandemic and how DFS nudged them towards building resilience.
LMI client impressions from Bangladesh and Vietnam
Various socio-economic dimensions drive the financial needs, aspirations, and behaviors of low- and moderate-income (LMI) customers. Customers from Bangladesh and Vietnam, through these snippets, describe their challenges and how the i3 Program helped them overcome these challenges.
In the time of COVID-19, agent networks in Kenya are coping with lock-downs and curfews, social distancing and hygiene, and reduced hours of bank operations. Using near-live data from the Caribou Data platform and MSC’s extensive experience on agent networks, the blog attempts to understand the situation for mobile money and banking agents on the ground in Kenya.
Trust Busters! A dozen reasons why your potential customers do not trust your agents (particularly in rural areas)
Alarmingly, most users who sign up for digital financial services do not actually end up using them, largely due to a lack of trust in agents. This holds true even in the case of relatively “advanced” geographies. “Trust busters” examines the evidence and lists out 12 reasons behind this worrying trend of interest in agency banking that fails to convert into regular usage.