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Tag: "market segmentation"

Four Challenges to Scaling Digital Financial Inclusion: A Practitioner’s Perspective

Interviews Ken Njoroge, CEO of Cellulant.

The financial inclusion agenda attempts to extend a broad range of financial services to the over two billion people around the globe who do not have access to formal financial services. This is a challenging proposition, given constraints in infrastructure, cost of service provision and lack of products to meet the needs of diverse customer segments. Digitalization promises to address at least some of these challenges by leveraging the nearly ubiquitous growth of mobile phones, thereby reducing cost, increasing efficiency and reaching new client segments. Typically, mobile money addresses a common pain point, which then sets the digital rails on which other products and services can be delivered. But traditional financial service providers and new players are grappling with how to move from gateway products, such as money transfer service or air top ups, to a wider range of service provisions.

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Opportunity to collaborate in an exercise involving big data, market segmentation, and the challenge of estimating market potential for an individual institution

As our faculty will already know, the World Bank Group has issued two statistical data sets containing financial inclusion statistics along a multitude of indicators for individual countries. The indicators presented are superbly interesting, and some of this data has never been seen on such a global scale before, such as percentage of adults in a particular country or region who borrowed for education or school fees, or who received remittances via mobile phone. The entire online database is available here and the data can be downloaded and used for analytical purposes. The book version of FINDEX is Little Data Book on Financial Inclusion.

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