In Nepal only 25% customers are banked through formal channels and a large majority of close to 40% are served through informal channels like cooperatives and FINGOs, the rest are unbanked. Mainstream financial institutions are concentrated in urban areas and presence in rural and remote areas is limited.
Digital Financial Services, specifically branchless banking, has the power to transform the number of unbanked people that have access to safe formal financial services in Nepal.
The objective of the workshop is to make a case with financial institutions in Nepal, to look beyond just setting up technology and channel point. The workshop address two broad objectives:
- What are the key problems and pain points that customers face through the customer journey when accessing a mobile money or agent banking product or service?
- Do people actually want what you are trying to sell?
The workshop will also be the opportunity to formally release MM4P’s in country research reports on the demand assessment and customer journey with regard to financial services, agent and channels.
The workshop will bring to life the need for a customer centric product development and ways to approach it. The presentations will highlight the role of donors in Nepal and the areas where participants and donors could work together.
