On the occasion of the European Microfinance Week, UNCDF’s Making Access Possible (MAP) programme launched its Global Insights Notes Series and released the first note “Decoding the Customer: First impressions from a more granular approach to client typology.”
The MAP Global Insights series takes a closer look at some of the unique market characteristics and customer insights uncovered from the work undertaken in Lesotho, Swaziland, Malawi, Mozambique, Myanmar and Thailand.
In a country where 20 percent of the population uses financial services and where the mobile phone penetration rate reaches 80 percent, the development of digital financial services has tremendous potential to promote access to financial services and to support the economic development of the unbanked population.
When a family member first told Mary that she could use her mobile phone to store her money, she felt that she had finally found a safe place to keep the earnings from her vegetable sales. Mary soon experienced, however, that the journey to register and manage an account to be less simple.
At a four-day event in Uganda, UNCDF brought together 150 digital financial service providers from 20 countries in Asia and Africa to improve their understanding of the challenges faced by low-income entrepreneurs like Mary and find solutions for them.