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Brick by Brick: Achieving Scale in Extending Technology Enabled Access to Finance
August 27 & 28 2013, Istanbul, Turkey
IFC is organizing a two-day knowledge sharing event for its clients and selected partners to facilitate exchange of innovative ideas and lessons learnt.
IFC has been facilitating mobile financial service providers since 2008. During this time, IFC’s investment portfolio has grown to $41.4 million in 8 equity investments. Additionally, advisory services have committed over $24.1 million in 22 projects. IFC has also conducted market scoping studies 28 countries to assess market readiness. During this time, IFC has grown to be trusted partner for MFS providers with proven expertise in business modeling, agent network development, customer uptake, and new products for m-banking channel.
Globally, the sector has expanded to 156 live m-banking deployments. There is evidence to indicate that the sector is growing fast. Operationally however, MFS providers are still in the process of perfecting agent network management, unlocking customer activation, and risk management. Learning gaps around product design issues remain a challenge. In several markets, regulatory reform is required to create an enabling environment for m-banking. It is becoming increasingly clear that reaching scale requires serious investments in the retail agent channel and marketing. As a result, few initiatives have achieved scale and even fewer are financially viable. Over the years, some innovative MFS providers in different corners of the world have achieved some success in one or more of these areas.
Given the diverse wealth of knowledge and experience shared by IFC’s clients, IFC will convene an annual partner’s meeting to facilitate knowledge exchange among its clients. The objective is to give our clients an opportunity to share their experiences and learn from each other to create real business opportunities for themselves.
There are two major advantages that such an event provides. First, the event allows IFC clients to exchange ideas and learn from each other in a non-competitive context. Second, IFC may be able to address some of the issues and challenges discussed through its knowledge management work. Some topics to discuss include different forms of partnerships, increasing customer uptake and product design; specifically learning from implementations that have failed.
IFC will invite CEOs or COOs of 35 - 40 clients globally as well as key partners (CGAP, PSDG) and donors to attend a two-day event. During the event, each client will have an opportunity to present themselves and the key challenges they have faced or are facing in their market.
IFC will also conduct a quick survey in preparation of the event to identify the critical topics that participants are interested to learn more about during the event. External and internal experts will conduct sessions on the topics thus identified.
IFC will also offer clients the opportunity to visit local banks and mobile network operators to learn how they use ADCs in reaching down market and what products they have developed for these channels.