Louis Potuk of ideas 42 discusses the value of incorporating insights from behavioral economics at every stage of the design process can yield amazing results. He was part of a team that worked with Grameen Foundation and CARD Bank of the Philippines to redesign savings products for the poor.
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December 19, 2013
December 17, 2013
December 16, 2013
Grameen Foundation and Grameen Foundation India have worked with Intellecap to create a 4-part series highlighting challenges and solutions for various aspects of the Business Correspondent Model. This blog was created by Abby Addis and Kimberly Davies.
December 12, 2013
Cross-posted from NextBillion.net
This case study analyzes Cashpor’s Business Correspondent (BC) model from a business sustainability perspective.
This case study looks at how an existing channel of delivery can be improvised and customized to effectively reach and serve the poor in a sustainable way.
While it is true that regulatory and financial viability issues are paramount challenges faced by Business Correspondents in India, these issues have overshadowed other operational challenges that BCs face on the ground.
It is estimated that at a country level in India, a mere 20% or less of the 100 million savings accounts opened so far are active and the rest 80% of the accounts become dormant. Dormancy is a concern as it indicates that the newly banked are not using their accounts and therefore are not effectively leveraging opportunities to climb out of poverty.
Nanay Maria used to sell eggs and rice cakes by the side of the road near her village in the Philippines. She knew there was a market for additional items, but didn’t have the extra money she needed to expand her business. Then Nanay Maria joined CARD Bank, a microfinance institution and Grameen Foundation partner in the Philippines. With an initial loan of 3,000 pesos (about $73) and her small savings, Nanay Maria began selling another local delicacy – sweetened bananas on a stick at her stand.