The following post was created from a new case study written by researchers at Grameen Foundation India and edited by Kimberly Davies. Cross-posted from NextBillion.net
Grameen Foundation Insights
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At Grameen Foundation, our goal is to spur innovation in the global movement to eliminate extreme poverty. Part of that work is to develop better solutions and share them with people like you.
On GF Insights, we share lessons learned from our leaders in the field, news about efforts to expand access to financial and information services for the poor, and how poverty-focused organizations are using data to improve the way they work.
Jacobo Menajovsky, Senior Data Analyst – Grameen Foundation Cross-posted from the Institute For Money, Technology & Financial Inclusion
Cross-posted from the Institute For Money, Technology & Financial Inclusion
While “mobile money” is a common term, the reality is that money programs vary across regions and between implementing partners, mobile money products are not all the same, and the clients who use them vary. That said, we have found a number of “dos” and “don’ts” that apply for all microfinance-related mobile financial services (MFS) programs. Microfinance institutions (MFIs) should consider the following tips as they roll out and tweak their mobile financial services programs.
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Imagine you’re a program officer working with teams of field staff, some located in remote villages. Though your colleagues in the field make almost daily visits to see clients, it sometimes takes weeks for you to get the data, leaving you ill-prepared to manage problems or even spot them before they erupt.
For countless social sector organizations, this is a major obstacle that affects their entire chain of operation, from how they manage supply inventories and the work of field staff to how quickly they can prepare up-to-the-minute reports for senior executives and funders.
It can be especially problematic for poverty-focused organizations that work in very rural, hard-to-reach areas, where they are expected to manage their data processes often without reliable access to electricity and cell phone reception.
Poor women and other vulnerable groups in India need a broad range of financial services in order to save for their families' future.
The world’s largest democracy is the new testing ground for what could be the largest plan for putting cash directly into the hands of the poorest people. Cash transfer programs have been successful in Latin America and parts of Africa, but India could be the best example of how to deliver these programs on a large scale.