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Integrating Across Sectors w/ Mobile Money
Transcript of Integrating Across Sectors w/ Mobile Money
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.
Meeting demand by bridging value-add to solve problems
Integration necessary to grow profits & impact
Models combining m-Finance + Verticals across Sectors
Future of business models = ecosystem-based w/ collaborative/shared revenue
Integrating Across Sectors w/ Mobile Money
a) mAgri + mFinance
Next example of business model?
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,
5 health (2 mHealth),
5 agribusiness (i.e. EADD)
@ChrisAWolff Alpha-Wolff Consulting
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
Agree or not?
c) Cross-Verticals /subject
a) Demand/Needs = Complex
Solutions > products
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
Address cash flow barriers to accessing specific products/services within each
MFIs / Portfolios of the Poor
BOP Scale lessons from:
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?
a) How rapidly prototype, learn & adapt to develop product really demanded?
a) How secure/maintain attention and budget?
a) Joint venture, social enterprise, or hybrid models for-profit + non?
b) Right type of money at each stage: from grants to investments?
do different players fall under? Bank/telco-led?
Room for every actor to play to
- mobilize & deploy capital productively
+ manage risk (never displaced)
: networks & connections
: 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
, media, government, users/citizens
work together on product diversification + delivery/promotion
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.
Leading the Pack with Strategy + Partnerships