GAFIS Focus Note 5: Building customer understanding

GAFIS Focus Note 5_Dec2014

Reflecting on the experience of the GAFIS banks, this Focus Note 5 explores how banks, which are seeking to scale-up financially viable savings propositions, can address the issue of building customer understanding of the core product features. We find a number of challenges arise here, namely, as banks introduce alternative delivery channels (e.g., agents and mobile phones) to improve the viability of the overall product proposition (e.g., lower costs, improved customer convenience), these intermediaries introduce risk of miscommunication or missed communication and, in turn, misunderstanding or missed understanding. Of course, these risks should not turn financial institutions away from introducing ADCs, but rather they need to be aware of the risks and design products and communications carefully in light of them. The Focus Note highlights these issues and potential pitfalls, and also sets forth some guidelines for actionable methods to enhance customer understanding.

Financial Inclusion Guide RPA-GAFIS

Financial Inclusion Guide_RPA-GAFIS.pdf (page 1 of 16)

Video: GAFIS, a new pathway to profitability

GAFIS Project Report

GAFIS Slide Presentation

GAFIS Report Executive Summary December 2013

To download this Publication, please click on “X” icon to left.

GAFIS Report Executive Summary December 2013 Spanish Translation

To download this Publication, please click on “X” icon to left.

GAFIS Focus Note 4: Agents for Savings

Focus_Note_4_FINALFocus Note 4 explores the use of agent channels for low-cost selling, marketing and delivering useful savings products to the poor and for promoting usage of these accounts among clients of GAFIS banks.

GAFIS Focus Note 3: Business Case

GAFIS Focus Note 3Focus Note 3 sets forth a framework to analyze the business case for small balance savings, and then identifies a tool kit to improve that business case, including an introduction of certain gateway dynamics which appear to offer specific opportunities to apply such tools.

GAFIS Focus Note 2: Savings Typology

GAFIS Focus Note 2The “gateway opportunity” that each bank has identified has helped them hone in on a set of target clients for increased bank savings. In Focus Note 2, we present a new typology of savings behavior. We combine this typology with data from our baseline survey of each bank’s target clients, which captured poverty levels, sources of income, and existing financial management strategies. Together these two tools provide a crisp value proposition for the bank as well as the poor clients they hope to reach.

GAFIS Focus Note 1: Gateways for Savings

GAFIS Focus Note 1Focus Note 1 outlines the theoretical underpinnings and ambitions of the GAFIS project while also defining the core concepts of gateways, financial innovations, and savings.