Posted on January 21, 2009 by Vinay
When I heard that Gautam Ivatury of CGAP would be at NYU’s “From Innovation to Impact” Conference, I thought it would be a great time to follow up with my previous interview with him. While he did not have time to talk today, we are going to schedule a follow up soon. Nevertheless, I was able to listen to his presentation on what CGAP has been doing to help move the market to be more amenable to branchless or mobile banking.
Here are a couple highlights from his talk, but stay tuned for a more in depth interview in the coming weeks.
- The most interesting point raised was the importance of centering the business plan around the potential agents. In essence, branchless banking would operate in the same way people currently refill their cell phones throughout India. A shopkeeper, authorized by a bank or cell phone company to accept withdrawals and deposits, would receive an SMS or some other communication from a customer’s phone and then either accept the deposit or disburse cash. Ivatury emphasized that such models have only been successful when it is designed to ensure that it is profitable and worthwhile for these agents themselves — a point, while obvious, can be easily overlooked by a major player.
- Ivatury also commented on the process of actually “moving the market” — or getting the greater financial community on board and outlined the process as such:
- Research and Information — first find the data that must be presented
- Synthesis — analyze the data in a way that is clear and concise
- Communicate — get mainstream media, like the Economist or Financial Times, to pick it up
- Influence — once major players are aware, bring them together through events to persuade them to adopt it
- Market Changes
Filed under: Finance/Credit, Microfinance, Technology | Tagged: branchless banking, CGAP, Gautam Ivatury | Leave a comment »
Posted on December 15, 2008 by prernasri
This upcoming March 26th – 28th, 2009, the Tufts Fletcher School will be holding a conference entitled, “Microfinance from Below: The Power of Savings and Savings Groups in Frontier Economies.” Registration is free. More details follow below:
The Center for Emerging Market Enterprises (CEME) at The Fletcher School, Tufts University—with support from Oxfam America and the Bill and Melinda Gates Foundation—will host a conference in March 2009 that explores the dual nature of savings groups. As a subject of debate within the microfinance sector, groups constitute both a target of and shield against exploitation, a market for and competitor to commercial alternatives, and a means of both communal unity and division. The “Microfinance from Below: The Power of Savings and Savings Groups in Frontier Economies” conference will examine the potential and limits of financial self-service, the social nature of savings groups, and the best ways for institutions to form, strengthen, and serve them—and then let them go.
Filed under: Approaches, Conferences, Microfinance, Opportunities | Tagged: Conference, Microfinance, savings groups, tufts fletcher | 3 Comments »
Posted on November 18, 2008 by Vinay
Nirantara Community Services, Arohan, and Sanghamithra Rural Financial Services have been announced winners of Royal Bank of Scotland and PlaNet Finance’s India’s Microfinance Process Excellence Awards .
They were the third annual awards and the winners for the awards were selected from a pool of 67 nominees, which were shortlisted after receiving applications from the initial pool of applicants. The award winners were announced at the Microfinance India Summit 2008, held Nov. 11th to 13th in New Delhi. National winners for the three categories of awards were Nirantara Community Services, Arohan, andSanghamithra.
Filed under: Awards, Finance/Credit, Microfinance, Opportunities | Tagged: and Sanghamithra Rural Financial Services, Arohan, Nirantara Community Services, PlaNet Finance, Process Excellence Awards, Royal Bank of Scotland | Leave a comment »