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Integrating Across Sectors w/ Mobile Money

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by

Chris Wolff

on 19 September 2014

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Transcript of Integrating Across Sectors w/ Mobile Money

Conclusion
To drive adoption in emerging countries
+ Future of profits from value added services (VAS) beyond airtime/transaction fees
= Integration within verticals (healthcare, agribusiness, education, water/sanitation, etc.)

Shift beyond payment systems
+ Overcome specific challenges of each vertical to practically address finance/cash flow challenges consumers face when trying to access/purchase more from each industry
= Mobile money to become as fungible as cash & add greater value

Partnerships leverage social sector expertise & assets to expand BOP markets.
1. What?
Meeting demand by bridging value-add to solve problems
2. Why?
Integration necessary to grow profits & impact
3. Who?
Models combining m-Finance + Verticals across Sectors
4. How?
Future of business models = ecosystem-based w/ collaborative/shared revenue
Integrating Across Sectors w/ Mobile Money
a) Cross-Sector
Private Sector
Social Sector
Government
a) mAgri + mFinance
Next example of business model?

Starting Point
Context
Business background directed to social sector, consulting to combine strategy + partnerships

Applying 11-year microfinance insight to mobile for development & value chains

Orgs advised/brokered for:
6 mAgri + mFinance,
3 mCommerce,
5 health (2 mHealth),
5 microfinance,
5 agribusiness (i.e. EADD)
@ChrisAWolff Alpha-Wolff Consulting
Premises
Financial services & mobile money are about scale
Therefore in African countries need to satisfy BoP masses

Combining private sector + social sector only way to create/deliver solutions for BoP at scale
b) Cross-Industry
You?
Bank?
IT?
Telco?
Private sector?
NGO?
Community Group?
Government?
Agree or not?
Finance
Telecommunications
IT
Agent Network
FMCG
Healthcare
Agribusiness
Education
Water/sanitation
Housing

c) Cross-Verticals /subject
a) Demand/Needs = Complex
Solutions > products
b) Margins
Complimentary infrastructure needed to spread costs in order to make unit margins profitable w/ harder to reach BoP

c) Customer-centric to increase value
Embed m-Finance = lower price point
b) mHealth + mFinance
a) Partnership-building meet needs by overcoming problems in new way
Not need to build/own/control platform & compete by slicing up pie
= prevents growth of network effects
b) Value Chains to meet Demand
c) Considerations
Address cash flow barriers to accessing specific products/services within each

MFIs / Portfolios of the Poor
BOP Scale lessons from:
Coca-Cola
M-Pesa
1.
Partnerships
a) Clear, shared objectives and process?
b) How negotiate shared business and profit margins?
c) How adapt model over time?
d) Relationships- from top to bottom
e) Who owns the customer?

2.
Innovation
a) How rapidly prototype, learn & adapt to develop product really demanded?

3.
Priority
a) How secure/maintain attention and budget?

4.
Structure
a) Joint venture, social enterprise, or hybrid models for-profit + non?
b) Right type of money at each stage: from grants to investments?

5. Which
regulations
do different players fall under? Bank/telco-led?
Room for every actor to play to
core competence
Banks
- mobilize & deploy capital productively
+ manage risk (never displaced)
Telcos
: networks & connections
Agents
: last mile + integrate w/ forms of commerce locally

Subject matter experts
”: relevant content for each industry that appeals to market
+ insight/networks + tailored products/services that meet demand
NGOs
, media, government, users/citizens

Therefore,
work together on product diversification + delivery/promotion
GSMA
ICT role = Reduce costs to deliver loans more cheaply & make new financial products profitable enough
= high margins
w/ distribution partnerships profitable for all
Lots of ideas for new products that address perceived problems…
But failed adoption if not:

Deeply understand nuanced factors that underlay problem
Embedded within local culture
Communicated and serviced in locally meaningful way
Have distribution/service system + business model to sustain & scale
Why listen to BoP market demand?
Start w/ customers
& discovering what they want

“Cashless” never driving goal in life (“no such thing as satisfying payment experience”)
Efficiency, convenience, security not end game in themselves; rather use $ for specific purposes

BoP care about how finance/mobile money can unlock better verticals across sectors
Health, agribusiness, employment, commerce, education, water/sanitation

Pursue what every family dreams of & mobile money will soar w/ demand.

@ChrisAWolff
Alpha-Wolff Consulting
Leading the Pack with Strategy + Partnerships
Full transcript