Digital Financial Sevices
The previous post described the current method of payment of social security allowance (SSA) in Nepal and highlighted its perks and drawbacks. This new episode presents a pilot project to digitise SSA payments and discusses a few preliminary insights, ahead of drawing a full lesson in the next post.
This post is the first of three looking at the digitization of social security benefit grants in Nepal. It provides the background of the country’s social security allowance (SSA) programme and describes how the current method of payment works.
This blog post is the first of a series dedicated to the lessons UNCDF MM4P learned in applying HCD methods introduced by Tillman Bruett in this previous post.
Bank of Sierra Leone launched the Digital Financial Services (DFS) Working Group, one of the six working groups under the National Strategy for Financial Inclusion 2017 – 2020 that will deliver on the digital delivery of financial services. Chairing the maiden meeting of the DFS Working Group, Governor Dr Marah challenged the industry to use this platform to unlock the tremendous opportunity that DFS can bring to Sierra Leoneans who cannot access financial services and/or need capital for their businesses.
Mobile Money for the Poor (MM4P) Uganda Technical Specialist Amani M’Bale maintains, “Since government and private sector stakeholders have engaged, we have made progress in expanding financial inclusion to those in need.”
Ms. M’Bale is stepping down from the United Nations Capital Development Fund (UNCDF) after six years of working to bring financial inclusion to underserved populations in least developed countries in Africa. MM4P spoke with Ms. M’Bale to gather insights about her work on the ground in the MM4P countries of Liberia and Uganda.
Nepal is a newcomer to the digital financial services (DFS) space, with most efforts being small scale with branchless banking deployments.
Most banks simply lack a long-term vision to create alternate distribution channels to reach the ‘last mile,’ and a large portion of their efforts to date have been driven by interventions from development agencies. Nepal’s economy has been affected significantly by the earthquake of April 2015 as well as the political unrest that occurred during most of the second half of 2015.