The document discusses the future of financial inclusion. It notes that 2.5 billion people currently lack access to financial services. Early pioneers in financial inclusion included microfinance institutions like Grameen Bank, which pioneered group lending models. More recently, mobile money has expanded access, with debates around whether bank-led or telco-led models are most effective. Looking ahead, the future of financial inclusion is focused on building ecosystems and pushing services to mobile, with a movement toward cashless societies globally. Financial inclusion efforts must focus on understanding customer needs and local market traits.

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FUTURE OF FINANCIAL
INCLUSION
SCOTTEBALES.COM

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Why Financial Inclusion
2.5 Billion
Poverty Premium
Ripe with Corruption
Security Risks
Inclusive Markets

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Goals
access at a reasonable cost for all households to a full range of financial services,
including savings or deposit services, payment and transfer services, credit and
insurance;
sound and safe institutions governed by clear regulation and industry
performance standards;
financial and institutional sustainability, to ensure continuity and certainty of
investment; and
competition to ensure choice and affordability for clients.

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Early Pioneers

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Early Services

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Grameen Bank
Prof Mohammad Yunus
Group lending
Village Inclusion
Funding Village Infrastructure
Danone Partnership

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Portfolios of the poor
high velocity
multiple instruments
balancing cash flow
resilience for fluctuation
planning for life events
frequent use of informal instruments

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Non-formal players, loan sharks, cash remittances

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Funeral, Medical & Marriage

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Industry Friends

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Mobile Money

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Bank Led vs Telco Led

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Positive Case Studies

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Lessons learned

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Product
Place
People
Price
Promotion
Position
Marketing
6 P’s
B A C K T O B A S I C S

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** Maslow’s Hierarchy of Needs
Common
Price Sensitivity
Loyalty
Eco-Systems
Trust &Tangibility**
Poverty Premium
Biological Safety Needs
Single Use Purchasing
Variable
Disposable Income
Belongingness**
Language Skills
Technology Skills
Entrepreneurship
Geographic Spread
Source of funds
Local
Religious
National
Saving Method
Family Model
M A R K E T I D E N T I F I C AT I O N
People

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Turning subscribers into banking clients
People: Research & Identify Market Traits
Identify the Community Unit
Sample Test Penetration Activities
Build a Sustainable mCommerce
Community Unit
Document & Refine Penetration Approach
Follow Natural Cash Flows and re-apply
Stakeholder
Engagement
Penetrate
Accessability
ControlSustain & Learn
Re-Plan
Execute
Journey
E N T E R I N G N E W M A R K E T S

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The Future
Ecosystem Focus
Tiered Closed & Open Loops
More Push to Mobile
Basic Services
Microtization
Extend to microtrade, p2p

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A Shared Agenda: Cashless Society

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The Ones to Watch

22. m o b i l e i s m o re t h a n t e c h n o l o g y
T H E F U T U R E I S M O B I L E
b i t . l y / m o b i l e re a d y b o o k

23. FUTURE
OF
FINANCIAL
INCLUSION
s c o t t e b a l e s . c o m / f e e d b a c k