There is much work to be done. For a market like Nigeria, adjudged by Microsave as having less than 3,000 active MFS agents by Dec 2013, we should roll up our sleeves and stop trading buzzwords. This presentation is hinged on the back of a 2013 nationwide survey that gave birth to BeyondBranches. It shares some of the findings, starting from the importance of proposition clarity and benefits communication. It helps profile an average Nigerian agent, identifies words that belong more in our conferences and offices that may mean nothing yet to the MSME target on the field. It identifies pockets of Financial exclusion even in tier-1 Nigerian cities and indicates what BeyondBranches IS DOING today to fill this gap.

1. I sat with an Agent:I sat with an Agent:I sat with an Agent:I sat with an Agent:
avoiding buzz words & revisiting
the MFS Agent mind-set to solve
their real world needs, then ours.
Simon Aderinlola
MobileMoneyAfrica.MobileMoneyAfrica.MobileMoneyAfrica.MobileMoneyAfrica.
Oriental Hotel, Lagos
13th
February 2014
All Rights Reserved. © 2014 BeyondBranches International Limited.

2. The effort to be understood…is it worth it?
February 2014 2 All Rights Reserved. © 2014 BeyondBranches International Limited.
• In effectively communicatingeffectively communicatingeffectively communicatingeffectively communicating the worded and the implied to agents, you need to step into their
world, envision their preferences, pick words carefully, speak their language and gauge the
impact…that takes effort.
• Steven Covey habit 5: “Seek first to understand, then be understood”then be understood”then be understood”then be understood”
• What does the picture abovethe picture abovethe picture abovethe picture above elicit in Nigerian minds…clarity?

3. What’s the profile of your typical agent?
• Thinking deeply about this question will help you see why an agent is really a partneran agent is really a partneran agent is really a partneran agent is really a partner
…you bothyou bothyou bothyou both have problems that one needs the other to solve.
• How you engage and pitchengage and pitchengage and pitchengage and pitch the proposition determines if it’s seen as a monologue or dialogue
• CandourCandourCandourCandour & clarity& clarity& clarity& clarity works. It’s always endearing to meet one who owns up to being a student too!
February 2014 3 All Rights Reserved. © 2014 BeyondBranches International Limited.

4. Keep it simple, not stupid
Words in our diction that may mean little to the agentWords in our diction that may mean little to the agentWords in our diction that may mean little to the agentWords in our diction that may mean little to the agent
• financial inclusion
• agent aggregator
• cash-in...cash-out...top-ups
• accrued pay-outs
• USSD
Speak to his needs, in his ‘language’Speak to his needs, in his ‘language’Speak to his needs, in his ‘language’Speak to his needs, in his ‘language’
• commission/profit -----------------------> your money
• accrued pay-outs -----------------------> ’total of your money with us’ or just ‘your profit’
• Deposits and withdrawals -------------> pay money and receive money.
• SMS ----------------------------------------> text message
• Clients -------------------------------------> customers
Learning curve is nothing new:Learning curve is nothing new:Learning curve is nothing new:Learning curve is nothing new: In Kenya at the start of its digital evolution, a number of
customers were said to have inserted their SIM cardsSIM cardsSIM cardsSIM cards into the ATMs
February 2014 4 All Rights Reserved. © 2014 BeyondBranches International Limited.

5. So what does Financial inclusion meanmeanmeanmean to the agent?
• “We are allowing you and any friends or customers you have alsoalsoalsoalso enjoy the services that those with
bank accounts and big cars can enjoy…Let us show you how.”show you how.”show you how.”show you how.”
• “Have you heard the term Be the changeBe the changeBe the changeBe the change before? Here is what it means & how you can be a part of it.
YouYouYouYou will help people save, borrow and do business (transact). Your life and theirs get better.”
• “We like how you described what you presently sell.“We like how you described what you presently sell.“We like how you described what you presently sell.“We like how you described what you presently sell. We are sure you will like more business. With
N4,000 you can get a phone that can browse. We can then show you more business” (sweeteners)
• “Let me explain how banks make moneyhow banks make moneyhow banks make moneyhow banks make money from your little withdrawals.... We need many people doing
these many, many times. Don’t be in a hurry, but you will make money from working with us.”
• Make people smile:Make people smile:Make people smile:Make people smile: “when you get something you would have travelled a long distance to get, queued
for long to get or must dress well to go and get…faster and easier…how do you feel? Won’t you feel
good if you also told a friend?”
Also NOTE:Also NOTE:Also NOTE:Also NOTE:
1.1.1.1. You cannot effectively preach financial inclusionYou cannot effectively preach financial inclusionYou cannot effectively preach financial inclusionYou cannot effectively preach financial inclusion when your communication excludesexcludesexcludesexcludes the agent
2.2.2.2. BankingBankingBankingBanking is seen asis seen asis seen asis seen as noble, somethingnoble, somethingnoble, somethingnoble, something they want to associate with & representthey want to associate with & representthey want to associate with & representthey want to associate with & represent (goodwill for agency
banking), but complaints about the “tiny margins” of mobile payments stop when the concept of CoT
is broken down to show value accrual through transaction volumes. Then we add our sweeteners.
3.3.3.3. Be quick to sketchBe quick to sketchBe quick to sketchBe quick to sketch your ideas before an agent, then ask questions, just to be sure. Map his present
inflow stream, get him nodding. Then map the new inflow streams and get him wide-eyed.
February 2014 5 All Rights Reserved. © 2014 BeyondBranches International Limited.

6. An agent for mobile financial services...whowhowhowho is he/she?
February 2014 6 All Rights Reserved. © 2014 BeyondBranches International Limited.
What madeWhat madeWhat madeWhat made him attractive as an agent in the first place?
Take a few of the usual…
1. VERIFIABLE, VISIBLE LOCATION
2. VERIFIABLE PERSONAL IDENTITY
3. RUNNING BUSINESS / MSME
How does he communicateHow does he communicateHow does he communicateHow does he communicate with his present customers, what words do you hear
when you sit with and observe him/her and why does he/she speak that wayand why does he/she speak that wayand why does he/she speak that wayand why does he/she speak that way?
• BUY, PAY
• PEOPLE
• MONEY / CASH
• PROFIT / GAIN
• TEXT MESSAGE
• HANDSET, INTERNET, NETWORK
Take a step back and review the profile of an average agent:Take a step back and review the profile of an average agent:Take a step back and review the profile of an average agent:Take a step back and review the profile of an average agent: a neighborhood corner
shop…maybe been there for 2-10 years. Well educated or not, he speaks “basic
merchant language”.
Does the agent need advisory services, technology, as well as what banking
services can be adapted to aid his present business in a tangible way?

7. Where does a licensed m-payment operator start?
Some have complained that mobile payment has not yet really been felt in the hinterland, howeverhoweverhoweverhowever
1.1.1.1. These tierThese tierThese tierThese tier----1 cities;1 cities;1 cities;1 cities; Lagos, Abuja, Ibadan & Port Harcourt were the pilot cities most licensees
started with to prove to CBN that they could really run. Regulation did not mandate hinterland.
2.2.2.2. There’s financial exclusion even in the major citiesThere’s financial exclusion even in the major citiesThere’s financial exclusion even in the major citiesThere’s financial exclusion even in the major cities. One of the key findings our 2013 survey
that gave birth to BeyondBranches Nigeria threw up was, surprisingly, that many city dwellers
detest the security doors of the banks and would do anything to avoid what they call the “delay
and embarrassment”. BeyondBranches has identified pockets of highly underservedunderservedunderservedunderserved
segments, even of the relatively privileged Lagos population.
3.3.3.3. Going from the known to the unknownGoing from the known to the unknownGoing from the known to the unknownGoing from the known to the unknown is a globally acknowledged reasonable approach to
exploratory activities…and this journey has lost half of those who started about 3 years ago.
Like pilots & drivers in training, it’s ok to run local simulations; but after revving, movemovemovemove the car.
Why be careful with targetWhy be careful with targetWhy be careful with targetWhy be careful with target----setting?setting?setting?setting?
1. Lovely excel financial models and aggressive agent numbers are nice to view & contemplate.
My advice:My advice:My advice:My advice: Set the numbers, yes, but go with your field team on the journey. Hit the
pavements with them and reassess your projections based on these experiences, as your own
brand of reality hits you. The truth is out thereThe truth is out thereThe truth is out thereThe truth is out there, not in our cozy offices, not on our laptops.
2. “There are lies, damn lies and statistics”
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8. Is this already happening?
YESYESYESYES
February 2014 8 All Rights Reserved. © 2014 BeyondBranches International Limited.
On a visit to an agent with some international observers

9. BeyondBranches is building infrastructure to bring mobile financial and
business services to the mass market by creating standardized, secure,
active and engaged agent networks.
All Rights Reserved. © 2014 BeyondBranches International Limited.
Merchants /
Agents
Engaged
Store credit
tracking
Supply chain
payments
Access to
credit
Inventory
Mgmt.
Invoice
mgmt.
Active
Increasing
Transaction
Types
Increasing
Transaction
Volumes
BanksMFIs UtilityMNO
What is BeyondBranches?
9February 2014

10. Who are we?
February 2014 10 All Rights Reserved. © 2014 BeyondBranches International Limited.

11. Simon Aderinlola
saderinlola@beyondbranches.com
+234 (0) 8062758802
11February 2014
Come with us on the journey…
with Nigeria as rollout country #1.
Check press releases on
www.beyondbranches.com