Karandaaz Pakistan held a digital credit workshop in Karachi in February 2016 and promoted SME finance by signing an agreement with ORIX Leasing Pakistan Ltd to provide $40 million in asset financing to small vendors. The newsletter also discusses Karandaaz Pakistan's involvement in technical committees at the State Bank of Pakistan, a visit from Queen Maxima of the Netherlands, and ongoing research projects on digital finance and government digitization in Pakistan.
This document discusses digital financial inclusion in India through the Pradhan Mantri Jan Dhan Yojana (PMJDY) program. It provides statistics on the number of bank accounts opened and deposits under PMJDY as of December 4, 2019, broken down by public sector banks, regional rural banks, and private sector banks. Over 376 million accounts have been opened with over Rs. 1079 billion in deposits. Public sector banks have opened the most accounts and hold the most deposits. The document also provides data on the number of Rupay debit cards issued to PMJDY account holders by bank type.
The 10 best emerging fintech startups in 2018Merry D'souza
Fintech in India is a unique because it is young, growing rapidly, and is fuelled by a large market base. Insights Success "The 10 Best Emerging Fintech Startups in 2018", Our magazine journey begins with the Cover story; CASHe, which provide immediate short-term personal loans to young professionals based on their social profile, merit and earning potential using its proprietary algorithm-based machine learning platform.
Financial inclusion is a powerful enabler of inclusive economic growth. Studies show that access to finance and financial services empowers people in many ways -- they are better able to start and expand businesses, invest in education, manage risk, and absorb financial shocks. It also helps help reduce income inequality and thereby accelerate economic growth.
Tracxn Research — Fintech India Landscape, October 2016Tracxn
This report provides an overview of the fintech sector in India as of October 2016. It covers 12 subsectors including payments, mobile payments, lending, banking tech, investment tech, and insurance tech. Some key findings include:
- The number of fintech companies founded in India grew from 60 in 2010 to over 1,200 by 2016.
- Total funding into the sector grew from $13 million in 2011 to over $1.4 billion in 2016. The average ticket size for early stage deals also increased significantly in this period.
- Major investors include Sequoia Capital, Accel Partners, SAIF Partners, and Matrix India. Mobile payments was the largest subsector by total funding at $1
The SuperCharger FinTech Accelerator Programme is a partnership between Standard Chartered Bank, Baidu, and TusPark Global Network to support FinTech startups. It selected eight finalists from 160 applicants to participate in a 12-week accelerator program in Hong Kong. The program will provide mentoring, coaching, and networking to help the startups scale and advance. The eight finalists represent a range of FinTech domains and stages of development.
IDFC Bank provides a risk profiling report for a student. The report discusses various types of risks including systematic risk, unsystematic risk, credit risk, market risk, operational risk, and moral hazard. It analyzes IDFC Bank using a SWOT analysis and discusses the bank's mission, values, businesses, and industry landscape. The report also provides an overview of the growth and structure of banking in India.
Wallis and Futuna India Trade & Investment Promotion GroupIndia Advisors
The Wallis and Futuna-India Trade & Investment Promotion Group (WITIPG) will promote mutually beneficial trade, commerce, investment, and economic cooperation between India and Wallis and Futuna. Unlike other trade bodies, WITIPG will exclusively focus on cross-border partnerships at the grassroots level. WITIPG will provide services to members without charges apart from an initial fee, and will become self-sustaining over time through success fees. WITIPG will include a wide range of stakeholders from governments, businesses, experts, and community groups from both countries.
FINTECH DEVELOPMENT AND ITS IMPACT TO THE FINANCIAL SERVICES INDUSTRY IN INDONESIA
The document discusses the development of fintech and its impact on the financial services industry in Indonesia. It defines fintech and describes various fintech business models. It also analyzes why fintech is becoming more dynamic, provides an overview of the fintech landscape in Indonesia, and discusses opportunities and challenges for banks, insurance companies, and fintech companies. The document concludes that fintech encourages financial services companies to be more efficient and innovative while providing solutions to complexity in the industry.
This document discusses digital financial inclusion in India through the Pradhan Mantri Jan Dhan Yojana (PMJDY) program. It provides statistics on the number of bank accounts opened and deposits under PMJDY as of December 4, 2019, broken down by public sector banks, regional rural banks, and private sector banks. Over 376 million accounts have been opened with over Rs. 1079 billion in deposits. Public sector banks have opened the most accounts and hold the most deposits. The document also provides data on the number of Rupay debit cards issued to PMJDY account holders by bank type.
The 10 best emerging fintech startups in 2018Merry D'souza
Fintech in India is a unique because it is young, growing rapidly, and is fuelled by a large market base. Insights Success "The 10 Best Emerging Fintech Startups in 2018", Our magazine journey begins with the Cover story; CASHe, which provide immediate short-term personal loans to young professionals based on their social profile, merit and earning potential using its proprietary algorithm-based machine learning platform.
Financial inclusion is a powerful enabler of inclusive economic growth. Studies show that access to finance and financial services empowers people in many ways -- they are better able to start and expand businesses, invest in education, manage risk, and absorb financial shocks. It also helps help reduce income inequality and thereby accelerate economic growth.
Tracxn Research — Fintech India Landscape, October 2016Tracxn
This report provides an overview of the fintech sector in India as of October 2016. It covers 12 subsectors including payments, mobile payments, lending, banking tech, investment tech, and insurance tech. Some key findings include:
- The number of fintech companies founded in India grew from 60 in 2010 to over 1,200 by 2016.
- Total funding into the sector grew from $13 million in 2011 to over $1.4 billion in 2016. The average ticket size for early stage deals also increased significantly in this period.
- Major investors include Sequoia Capital, Accel Partners, SAIF Partners, and Matrix India. Mobile payments was the largest subsector by total funding at $1
The SuperCharger FinTech Accelerator Programme is a partnership between Standard Chartered Bank, Baidu, and TusPark Global Network to support FinTech startups. It selected eight finalists from 160 applicants to participate in a 12-week accelerator program in Hong Kong. The program will provide mentoring, coaching, and networking to help the startups scale and advance. The eight finalists represent a range of FinTech domains and stages of development.
IDFC Bank provides a risk profiling report for a student. The report discusses various types of risks including systematic risk, unsystematic risk, credit risk, market risk, operational risk, and moral hazard. It analyzes IDFC Bank using a SWOT analysis and discusses the bank's mission, values, businesses, and industry landscape. The report also provides an overview of the growth and structure of banking in India.
Wallis and Futuna India Trade & Investment Promotion GroupIndia Advisors
The Wallis and Futuna-India Trade & Investment Promotion Group (WITIPG) will promote mutually beneficial trade, commerce, investment, and economic cooperation between India and Wallis and Futuna. Unlike other trade bodies, WITIPG will exclusively focus on cross-border partnerships at the grassroots level. WITIPG will provide services to members without charges apart from an initial fee, and will become self-sustaining over time through success fees. WITIPG will include a wide range of stakeholders from governments, businesses, experts, and community groups from both countries.
FINTECH DEVELOPMENT AND ITS IMPACT TO THE FINANCIAL SERVICES INDUSTRY IN INDONESIA
The document discusses the development of fintech and its impact on the financial services industry in Indonesia. It defines fintech and describes various fintech business models. It also analyzes why fintech is becoming more dynamic, provides an overview of the fintech landscape in Indonesia, and discusses opportunities and challenges for banks, insurance companies, and fintech companies. The document concludes that fintech encourages financial services companies to be more efficient and innovative while providing solutions to complexity in the industry.
The 10 Most Prominent BFSI Solution Providers In 2018 Merry D'souza
To bring out the companies which are consistently engaged in helping clients on simplifying their personal finance
requirements through adapting and implementing the highly capital intensive global technologies. We have come up
with the edition, “The 10 Most Prominent BFSI Solution Providers In 2018.”
The document provides statistics and information on the fintech landscape in Indonesia. Some key points:
- Indonesia has a population of 261 million people, with 143 million using the internet and 130 million active social media users. Mobile penetration is high at 415 million subscriptions.
- Total fintech investment in 2017 was $176 million and the fintech market transaction value is projected to reach $22 billion in 2018, growing at an annual rate of 16.3%.
- The largest fintech sectors are payments (38%), lending (31%) and personal finance (8%). The regulatory environment involves oversight by the Central Bank of Indonesia, Indonesia Financial Services Authority and Ministry of Communication and Informatics.
Nandan Nilekani argues that India's future growth will be driven by domestic consumption, services, and small businesses rather than exports, manufacturing, and large employers. He outlines how digitization and new digital platforms are enabling this transition by increasing access to digital payments, identities, and services. This will formalize the economy, generate new data sources, and allow India to transition from a data poor to data rich nation within 5 years.
A Descriptive Study on Trends in Indian Banking Sectorijtsrd
Banking sector assumes an essential job in the improvement of one nations economy. The development of the banking segment relies on the administrations given by them to the clients in different viewpoints. The developing pattern of banking administrations is discovered huge after the new financial changes in India. Today, India has a genuinely very much created financial framework with various classes of banks open part banks, outside banks, private area banks both old and new age, local country banks and co employable manages an account with the Reserve Bank of India as the wellspring Head of the framework. These days the banking area goes about as a spine of Indian economy which reflects as a supporter during the time of blast and subsidence. From 1991 different patterns and improvements in the banking division are credited. It likewise mirrors the different changes were caused to improve their administrations to fulfill the clients. S. Lyrics Miruna "A Descriptive Study on Trends in Indian Banking Sector" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25234.pdfPaper URL: https://www.ijtsrd.com/management/other/25234/a-descriptive-study-on-trends-in-indian-banking-sector/s-lyrics-miruna
How EY and Credit Suisse teams brought growth opportunities to future leaders...Varun Mittal
EY and Credit Suisse teams co-hosted the CS-EY FinTech Forum. The forum attracted over 90 participants from top financial institutions in Bangkok, Jakarta, Kuala Lumpur, Manila, Melbourne, Mumbai and Singapore, as well as 25 FinTech firms with headquarters in Singapore, Indonesia and India. EY teams are committed to work with industry participants to help bring about greater FinTech integration to countries in ASEAN-6 and India.
E-Rickshaw drivers are the face of new trends in urban mobility around Delhi. Our project is about making the E-Rickshaw drivers digitally literate and also Our project is an attempt to examine whether E-Rickshaw drivers can turn into beneficiaries of the larger digital literacy project .
Effects of Demonetization on Digital Marketing and E Payment Gatewayijtsrd
Demonetization is the demonstration of stripping a cash unit of its status as legitimate delicate. It happens at whatever point there is a difference in national cash The present structure or types of cash is pulled from course and resigned, regularly to be supplanted with new notes or coins. Now and again, a nation totally replaces the old cash with new money. Evacuating the legitimate delicate status of a unit of cash is an extreme mediation into an economy since it straightforwardly impacts the vehicle of trade utilized in every single financial exchange. It can help settle existing issues, or it can cause bedlam in an economy, particularly whenever attempted abruptly or all of a sudden. All things considered, demonetization is attempted by countries for various reasons. Demonetization alludes to Withdrawal of a specific type of cash from dissemination. Demonetization is fundamental at whatever point there is a difference in national money. The old unit of money must be evacuated and substituted with another cash unit. The cash was demonetized first time in 1946 and second time in 1978. On Nov. 2016 the cash is demonetized third time by the present Modi government. This is the strong advance taken by the govt. for the improvement of the economy and nation. In this paper I need to examine the effect of ongoing demonetization on the Indian framework. Atul Kumar Mishra | Dr. Rajesh Rathore ""Effects of Demonetization on Digital Marketing & E - Payment Gateway"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23879.pdf
Paper URL: https://www.ijtsrd.com/economics/financial-economics/23879/effects-of-demonetization-on-digital-marketing-and-e---payment-gateway/atul-kumar-mishra
The article discusses the recent Legal Leadership Conclave held in Bengaluru on the topics of arbitration and mediation. The conclave brought together eminent legal luminaries to discuss ways to promote alternative dispute resolution and reduce pendency in courts. Former Chief Justice MN Venkatachaliah emphasized that arbitration and mediation must become priorities to help reduce cases in courts. He also suggested using technology like artificial intelligence to improve dispute resolution. Such discussions on important legal issues are valuable in enabling free exchange of ideas between senior members of the judiciary and broader audiences.
India FinTech Report 2020 - 2nd edition, Executive SummaryMEDICI Inner Circle
- India has emerged as one of the fastest growing FinTech hubs in recent years, with hundreds of new startups being founded each month.
- Government initiatives like demonetization boosted digital payments and the growth of FinTech companies in India.
- However, the FinTech revolution needs to also drive financial inclusion, especially reaching underbanked and unbanked communities in rural areas. Most startups currently do not operate in those segments serving people with incomes of less than $1,300 per year.
- For FinTech to fully enable financial inclusion in India, costs need to be reduced through technology while also creating incentives and financial education for rural populations to use digital payments and services.
The 10 most trusted non banking financial companies to watch in 2019 compressedMerry D'souza
This document provides an overview of IIFL Finance, one of India's largest non-banking financial companies. Some key points:
- IIFL Finance is a subsidiary of IIFL Holdings and has over 1,900 branches across India. It provides loans for home, property, gold, SMEs, and microfinance.
- The company has a loan book of over Rs. 34,904 crores and focuses on retail lending. It has received high credit ratings from rating agencies.
- IIFL Finance is a leader in digital finance, with an end-to-end digital loan process and many touchpoints digitally enabled.
- In addition to lending, IIFL Finance runs financial literacy programs and
The Democratic Republic of the Congo offers huge market potential for technology start-ups. The political environment supports entrepreneurship and digital services. The aim of the National Digital Plan is to drive market and improve infrastructure to surge opportunities for financial inclusion.
While individually their businesses are small, together they transact more than $18.42 billion annually and interact with millions of customers every day. Yet they are an underserved cash-based group largely left out of modern digital payments and other financial services. This study aims to support retail micro-merchants to earn a better living and raise awareness of a commercial opportunity in financial services and Fast Moving Consumer Goods. A key conclusion is the importance of digitization, credit and banking to suit their needs.
India's best product thinkers on what a thriving product ecosystem can do for...ProductNation/iSPIRT
On the first anniversary of iSPIRT, we got the best product thinkers in the country pledging to transform India into a product nation and to help in every way they can to get it there.
The document discusses the new e-KYC service launched by UIDAI that allows Aadhaar number holders to authorize the release of their personal details like name, address, photo, etc. to service providers electronically for instant activation of services. This paperless process eliminates lengthy paperwork and facilitates quicker transactions for services like opening bank accounts or getting new mobile connections. Both endpoints of the data transfer are secured through encryption and digital signature, making e-KYC a legally valid document. The service benefits both consumers through improved convenience and service providers through reduced costs and faster onboarding of customers.
Fintech in Indonesia refers to the application of technology within the financial industry and covers activities like financing, payments, operations, risk management, and customer interfaces. There are over 150 fintech startups in Indonesia providing services like payments, lending, investment and insurance. The Indonesian government through institutions like the Financial Services Authority (OJK) and Bank Indonesia regulates and supervises the growing fintech sector, which is expected to increase in lending from $2.5 billion in 2017 to $35 billion by 2023.
Ditari.im is an open source blogging platform that aims to provide a simple website creation option for non-technical users. It began as a standalone script but has grown into a platform with over 200 registered users and nearly 500 posts. The platform allows users to post text, images, and videos and share links. Upcoming updates will provide a new design, HTML widgets, improved social media integration, and a mobile version. The creator also plans to generate revenue through advertisements, custom services, and support to keep the platform running.
This document discusses the career of being a singer. It outlines that singing involves producing musical sounds with the voice and that singers can pick different genres. Salaries for singers vary widely and can range from $17.85 to over $53 per hour, while some famous singers earn millions. Required education includes taking vocal classes for a few semesters to practice techniques and find the right vocal tone. A singing career's earnings depend on the singer's level of success in a given year, with potential to earn from $1 million to over $70 million.
Sungba Mental Health Organization aims to provide care and support for the mentally ill population in the Upper East Region of Ghana. They plan to open a drop-in center and overnight shelter to meet basic needs like food, clothing, and hygiene. Their needs assessment found 65 mentally ill individuals, many with co-occurring issues like substance abuse or mobility problems. The organization's objectives are to provide these services, develop community resources, and train peer counselors. They have requested a budget of 87,000 GHC to fund housing, transportation, supplies, and training to achieve their goals of caring for the mentally ill and reintegrating them into society.
The 10 Most Prominent BFSI Solution Providers In 2018 Merry D'souza
To bring out the companies which are consistently engaged in helping clients on simplifying their personal finance
requirements through adapting and implementing the highly capital intensive global technologies. We have come up
with the edition, “The 10 Most Prominent BFSI Solution Providers In 2018.”
The document provides statistics and information on the fintech landscape in Indonesia. Some key points:
- Indonesia has a population of 261 million people, with 143 million using the internet and 130 million active social media users. Mobile penetration is high at 415 million subscriptions.
- Total fintech investment in 2017 was $176 million and the fintech market transaction value is projected to reach $22 billion in 2018, growing at an annual rate of 16.3%.
- The largest fintech sectors are payments (38%), lending (31%) and personal finance (8%). The regulatory environment involves oversight by the Central Bank of Indonesia, Indonesia Financial Services Authority and Ministry of Communication and Informatics.
Nandan Nilekani argues that India's future growth will be driven by domestic consumption, services, and small businesses rather than exports, manufacturing, and large employers. He outlines how digitization and new digital platforms are enabling this transition by increasing access to digital payments, identities, and services. This will formalize the economy, generate new data sources, and allow India to transition from a data poor to data rich nation within 5 years.
A Descriptive Study on Trends in Indian Banking Sectorijtsrd
Banking sector assumes an essential job in the improvement of one nations economy. The development of the banking segment relies on the administrations given by them to the clients in different viewpoints. The developing pattern of banking administrations is discovered huge after the new financial changes in India. Today, India has a genuinely very much created financial framework with various classes of banks open part banks, outside banks, private area banks both old and new age, local country banks and co employable manages an account with the Reserve Bank of India as the wellspring Head of the framework. These days the banking area goes about as a spine of Indian economy which reflects as a supporter during the time of blast and subsidence. From 1991 different patterns and improvements in the banking division are credited. It likewise mirrors the different changes were caused to improve their administrations to fulfill the clients. S. Lyrics Miruna "A Descriptive Study on Trends in Indian Banking Sector" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-5 , August 2019, URL: https://www.ijtsrd.com/papers/ijtsrd25234.pdfPaper URL: https://www.ijtsrd.com/management/other/25234/a-descriptive-study-on-trends-in-indian-banking-sector/s-lyrics-miruna
How EY and Credit Suisse teams brought growth opportunities to future leaders...Varun Mittal
EY and Credit Suisse teams co-hosted the CS-EY FinTech Forum. The forum attracted over 90 participants from top financial institutions in Bangkok, Jakarta, Kuala Lumpur, Manila, Melbourne, Mumbai and Singapore, as well as 25 FinTech firms with headquarters in Singapore, Indonesia and India. EY teams are committed to work with industry participants to help bring about greater FinTech integration to countries in ASEAN-6 and India.
E-Rickshaw drivers are the face of new trends in urban mobility around Delhi. Our project is about making the E-Rickshaw drivers digitally literate and also Our project is an attempt to examine whether E-Rickshaw drivers can turn into beneficiaries of the larger digital literacy project .
Effects of Demonetization on Digital Marketing and E Payment Gatewayijtsrd
Demonetization is the demonstration of stripping a cash unit of its status as legitimate delicate. It happens at whatever point there is a difference in national cash The present structure or types of cash is pulled from course and resigned, regularly to be supplanted with new notes or coins. Now and again, a nation totally replaces the old cash with new money. Evacuating the legitimate delicate status of a unit of cash is an extreme mediation into an economy since it straightforwardly impacts the vehicle of trade utilized in every single financial exchange. It can help settle existing issues, or it can cause bedlam in an economy, particularly whenever attempted abruptly or all of a sudden. All things considered, demonetization is attempted by countries for various reasons. Demonetization alludes to Withdrawal of a specific type of cash from dissemination. Demonetization is fundamental at whatever point there is a difference in national money. The old unit of money must be evacuated and substituted with another cash unit. The cash was demonetized first time in 1946 and second time in 1978. On Nov. 2016 the cash is demonetized third time by the present Modi government. This is the strong advance taken by the govt. for the improvement of the economy and nation. In this paper I need to examine the effect of ongoing demonetization on the Indian framework. Atul Kumar Mishra | Dr. Rajesh Rathore ""Effects of Demonetization on Digital Marketing & E - Payment Gateway"" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-3 | Issue-4 , June 2019, URL: https://www.ijtsrd.com/papers/ijtsrd23879.pdf
Paper URL: https://www.ijtsrd.com/economics/financial-economics/23879/effects-of-demonetization-on-digital-marketing-and-e---payment-gateway/atul-kumar-mishra
The article discusses the recent Legal Leadership Conclave held in Bengaluru on the topics of arbitration and mediation. The conclave brought together eminent legal luminaries to discuss ways to promote alternative dispute resolution and reduce pendency in courts. Former Chief Justice MN Venkatachaliah emphasized that arbitration and mediation must become priorities to help reduce cases in courts. He also suggested using technology like artificial intelligence to improve dispute resolution. Such discussions on important legal issues are valuable in enabling free exchange of ideas between senior members of the judiciary and broader audiences.
India FinTech Report 2020 - 2nd edition, Executive SummaryMEDICI Inner Circle
- India has emerged as one of the fastest growing FinTech hubs in recent years, with hundreds of new startups being founded each month.
- Government initiatives like demonetization boosted digital payments and the growth of FinTech companies in India.
- However, the FinTech revolution needs to also drive financial inclusion, especially reaching underbanked and unbanked communities in rural areas. Most startups currently do not operate in those segments serving people with incomes of less than $1,300 per year.
- For FinTech to fully enable financial inclusion in India, costs need to be reduced through technology while also creating incentives and financial education for rural populations to use digital payments and services.
The 10 most trusted non banking financial companies to watch in 2019 compressedMerry D'souza
This document provides an overview of IIFL Finance, one of India's largest non-banking financial companies. Some key points:
- IIFL Finance is a subsidiary of IIFL Holdings and has over 1,900 branches across India. It provides loans for home, property, gold, SMEs, and microfinance.
- The company has a loan book of over Rs. 34,904 crores and focuses on retail lending. It has received high credit ratings from rating agencies.
- IIFL Finance is a leader in digital finance, with an end-to-end digital loan process and many touchpoints digitally enabled.
- In addition to lending, IIFL Finance runs financial literacy programs and
The Democratic Republic of the Congo offers huge market potential for technology start-ups. The political environment supports entrepreneurship and digital services. The aim of the National Digital Plan is to drive market and improve infrastructure to surge opportunities for financial inclusion.
While individually their businesses are small, together they transact more than $18.42 billion annually and interact with millions of customers every day. Yet they are an underserved cash-based group largely left out of modern digital payments and other financial services. This study aims to support retail micro-merchants to earn a better living and raise awareness of a commercial opportunity in financial services and Fast Moving Consumer Goods. A key conclusion is the importance of digitization, credit and banking to suit their needs.
India's best product thinkers on what a thriving product ecosystem can do for...ProductNation/iSPIRT
On the first anniversary of iSPIRT, we got the best product thinkers in the country pledging to transform India into a product nation and to help in every way they can to get it there.
The document discusses the new e-KYC service launched by UIDAI that allows Aadhaar number holders to authorize the release of their personal details like name, address, photo, etc. to service providers electronically for instant activation of services. This paperless process eliminates lengthy paperwork and facilitates quicker transactions for services like opening bank accounts or getting new mobile connections. Both endpoints of the data transfer are secured through encryption and digital signature, making e-KYC a legally valid document. The service benefits both consumers through improved convenience and service providers through reduced costs and faster onboarding of customers.
Fintech in Indonesia refers to the application of technology within the financial industry and covers activities like financing, payments, operations, risk management, and customer interfaces. There are over 150 fintech startups in Indonesia providing services like payments, lending, investment and insurance. The Indonesian government through institutions like the Financial Services Authority (OJK) and Bank Indonesia regulates and supervises the growing fintech sector, which is expected to increase in lending from $2.5 billion in 2017 to $35 billion by 2023.
Ditari.im is an open source blogging platform that aims to provide a simple website creation option for non-technical users. It began as a standalone script but has grown into a platform with over 200 registered users and nearly 500 posts. The platform allows users to post text, images, and videos and share links. Upcoming updates will provide a new design, HTML widgets, improved social media integration, and a mobile version. The creator also plans to generate revenue through advertisements, custom services, and support to keep the platform running.
This document discusses the career of being a singer. It outlines that singing involves producing musical sounds with the voice and that singers can pick different genres. Salaries for singers vary widely and can range from $17.85 to over $53 per hour, while some famous singers earn millions. Required education includes taking vocal classes for a few semesters to practice techniques and find the right vocal tone. A singing career's earnings depend on the singer's level of success in a given year, with potential to earn from $1 million to over $70 million.
Sungba Mental Health Organization aims to provide care and support for the mentally ill population in the Upper East Region of Ghana. They plan to open a drop-in center and overnight shelter to meet basic needs like food, clothing, and hygiene. Their needs assessment found 65 mentally ill individuals, many with co-occurring issues like substance abuse or mobility problems. The organization's objectives are to provide these services, develop community resources, and train peer counselors. They have requested a budget of 87,000 GHC to fund housing, transportation, supplies, and training to achieve their goals of caring for the mentally ill and reintegrating them into society.
Quality Programs: Hurdles and Milestones for Health Systems and Their Employe...PYA, P.C.
PYA Principal Linda ClenDening and Erlanger Health System’s Sondra McGinnis recently spoke on “Quality Programs: Hurdles and Milestones for Health Systems and Their Employed Physicians" at the Georgia Healthcare Financial Management Association’s Financial Executive One-Day.
This document discusses the career of being a singer. It outlines that singing involves producing musical sounds with the voice and that singers can perform formally or informally in different genres. Salaries for singers vary widely from $17.85 to $53.59 per hour, though some famous singers earn millions. Required education includes taking vocal classes for two to three semesters to practice techniques like finding the right tone.
A young woman burning with hunger and thirst for God said, Father, Scripture says that the wages of sin is death (Rom 6:23.) I beg you therefore, teach me how to destroy the very root of sin. Now, because the Father hated wasting time, he Gazed steadily into her eyeballs and spoke, you ask me dear child to teach you the greatest science in the world—the road to eternal union with the Omnipotent God.
Dokumen tersebut membahas tentang peta konsep piramida penduduk yang menggambarkan perbandingan kelompok umur penduduk, jumlah angkatan kerja, dan proyeksi pertumbuhan penduduk. Jenis piramida penduduk seperti muda, dewasa, dan tua mencerminkan tingkat pertumbuhan dan ketergantungan penduduk. Dokumen juga membahas mengenai persebaran dan kualitas penduduk Indonesia serta upaya pemerintah dalam
Dokumen tersebut membahas tentang peraturan perundang-undangan lingkungan hidup di Indonesia serta beberapa definisi kunci terkait lingkungan hidup. Juga dijelaskan proyek-proyek yang wajib melakukan AMDAL dan tujuan dari studi AMDAL.
At the Heart of the Matter: Medical NecessityPYA, P.C.
PYA Principal Denise Hall and Michael Spake, Vice President of External Affairs and Chief Compliance & Integrity Officer at Lakeland Regional Health System, co-presented “At the Heart of the Matter: Medical Necessity,” at the AHLA Institute on Medicare and Medicaid Payment Issues. They discussed:
Recent cases and legal actions
Impact of medical necessity when interpreting the regulations and guidelines for:
-Stents
-Pacemakers
-Automatic Implantable Cardiac Defibrillators (AICD)
-Electrophysiology Studies (EPS) and Ablations
Common areas of risk in applying local coverage determination (LCD)/national coverage determination (NCD) guidance to cardiac procedures: how to identify your risks and avoid vulnerability
Best practices for ensuring compliance with regulations
Beware of Benchmarks: Use of Survey Data in Determining FMVPYA, P.C.
PYA Principal Tynan Olechny and Consulting Manager Zach Doolin recently presented, “Beware of Benchmarks: Use of Survey Data in Determining FMV,” as part of NACVA’s Online Winter Summit.
Sumber daya alam adalah sumber daya yang dapat dimanfaatkan oleh manusia, termasuk sumber daya hayati, non hayati, yang dapat diperbaharui dan tidak dapat diperbaharui, serta digunakan sebagai bahan baku dan penghasil energi.
Compensation Toolbox: Guidelines for Building an Effective Compensation PlanPYA, P.C.
PYA Consultant Allison Wilson recently presented "Compensation Toolbox: Guidelines for Building an Effective Compensation Plan" at the Medical Group Management Association (MGMA) 2015 Financial Management and Payer Contracting Conference, March 1-3, in Phoenix, Arizona.
This document discusses digital financial inclusion in India through the Pradhan Mantri Jan Dhan Yojana (PMJDY) program. It provides statistics on the number of bank accounts opened and deposits under PMJDY as of December 4, 2019, broken down by public sector banks, regional rural banks, and private sector banks. Over 376 million accounts have been opened with over Rs. 10,790 crore in deposits. Public sector banks have opened over 299 million accounts with Rs. 8,524 crore in deposits. Regional rural banks have opened over 64 million accounts with Rs. 1,958 crore in deposits. The document also provides data on the number of Rupay debit cards issued under PMJDY to
The document discusses emerging technologies and their impact on the financial services industry. It covers applications of blockchain technology such as its use in banking for digitizing bank guarantees, payments for enabling cross-border transfers, and lending through a regulatory approved blockchain-based lending product. Emerging applications of blockchain discussed include central bank digital currencies (CBDCs), decentralized finance (DeFi), and non-fungible tokens (NFTs). The document also briefly introduces concepts of edge computing, quantum computing and their potential implications for financial services.
The report identifies constraints and bottlenecks that Pakistan faces in achieving successful and sustainable regional digital trade integration. It recommends expediting the implementation of Pakistan's information security, personal data protection, and cloud computing policy frameworks. It also suggests that the Strategic Trade Policy Framework incentivize digital transformation by public and private enterprises. Improving connectivity infrastructure, digital literacy, and financial inclusion can further support digital trade integration.
The digital transformation guide: Six strategies to scale financial inclusionrun_frictionless
FSPs must find digital ways to reach and interact with their customers efficiently and at scale, use their client data for more efficient credit management and product design, and build more flexible core systems that support adaptability.
https://runfrictionless.com/b2b-white-paper-service/
Digital Payment Dynamics Unveiling the Impacts on Sustainable Development, En...ijtsrd
Digital payment, a pivotal component of bankings digital transformation, plays a crucial role in fostering a nations economic growth. This is achieved by facilitating seamless and convenient online transactions, thereby enhancing customer experience and streamlining banking operations. Given the widespread use of smartphones and internet access among todays population, digital modes such as UPI, USSD, and internet banking have become integral to various activities like financial transactions and online shopping. In the contemporary era, sustainability, encompassing social inclusion, environmental protection, and economic growth, is paramount. By exploring the nexus between digital payment and sustainability, the paper aims to provide insights into the transformative potential of digitalization in fostering economic growth while aligning with the principles of social inclusion and environmental preservation. Descriptive in nature, the research relies on secondary data gathered from various sources, including books, journals, and articles, available on electronic platforms. Digitalization emerges as a valuable tool contributing to sustainable development, with a focus on achieving a cashless economy, reducing the carbon footprint associated with financial transactions, and providing cost effective services to citizens, thereby promoting enhanced financial inclusion. This paper delves into the role of digital payments in the banking sector in realizing sustainable development goals. Examining government policies on digital payment and sustainability, the paper addresses the challenges and opportunities associated with sustainable development. Dr. Suresh Chandra Agarwal | Vaishali Shukla | Abhishek Awasthi "Digital Payment Dynamics: Unveiling the Impacts on Sustainable Development, Environmental Protection, and Social Inclusion" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-8 | Issue-1 , February 2024, URL: https://www.ijtsrd.com/papers/ijtsrd63442.pdf Paper Url: https://www.ijtsrd.com/management/equality-diversity-and-inclusion/63442/digital-payment-dynamics-unveiling-the-impacts-on-sustainable-development-environmental-protection-and-social-inclusion/dr-suresh-chandra-agarwal
Technology plays a crucial role in driving financial inclusion in India. Several disruptive technologies like big data analytics, APIs, and cloud computing have emerged that are synergistic with financial services. Mobile phones have also been hugely impactful, with over 65% of Indians under 35 being tech-savvy and comfortable using mobile payments. The government has also made large pushes for financial inclusion through programs like Jan Dhan Yojana, Aadhaar, and the JAM trinity, as well as initiatives like IndiaStack and the Unified Payments Interface. Finally, hundreds of fintech startups are leveraging these technologies and government programs to help plug gaps in financial inclusion and provide innovative solutions.
Is the Finance Technology (FinTech) sector ready for breakout? Read Deloitte India’s detailed report that thoroughly examines the continuously evolving market and the key factors that are leading FinTech companies to success. However, the journey will not be easy for most companies due to the challenges mentioned in the report.
This document analyzes the breakout potential of India's FinTech sector across six segments - Payments, Credit, Investment Management, Personal Finance Management, BankTech and InsurTech. It finds that payments and lending are poised for short-term breakout as FinTechs target cashless digital payments and address the credit gap for retail and MSME lending. Other segments like investment management, insurance, and personal finance currently target niche markets but have potential to break out in the medium term. Key factors driving India's FinTech growth include steady economic growth, low financial services penetration, lagging public sector banks/insurers, supportive digital infrastructure like Aadhaar and India Stack, growing VC funding, and the regulatory push for
Digital Pakistan Policy by Ministry of IT PakistanMudassir Malik
The document outlines Pakistan's Digital Pakistan Policy, which aims to create a digital ecosystem to expand the knowledge-based economy and spur socioeconomic growth. Some key goals include promoting digitization across economic sectors like education, health and agriculture; enhancing e-commerce; empowering youth and women through IT; promoting innovation and entrepreneurship in the IT sector; increasing software exports and the domestic IT market; improving Pakistan's ICT ranking; and promoting digital inclusion, infrastructure development, and e-governance. The policy also details strategies to achieve these goals, such as developing legislation, infrastructure like software technology parks, improving human resource development and skills training, and providing incentives for the IT sector.
This document discusses the impact of digital finance on financial inclusion. Digital finance, including internet banking, mobile banking, mobile wallets, credit/debit cards, can provide affordable and convenient banking services. It has the potential to increase financial inclusion by providing access to financial products and services for vulnerable groups. The study found that digital finance options like mobile wallets and credit cards positively impact financial inclusion factors like usability, convenience and accurate timing of transactions. While digital finance increases access, there are still challenges around affordability, security and network coverage that can limit adoption. Overall, the study concludes that digital finance significantly contributes to greater financial inclusion.
A Study on Sustainability and Coping Ability of SHGS Members with Special Ref...ijtsrd
Micro finance in general is a practice of providing the poor with credit, savings and insurance facilities to set up or to expand Income generating activities relating to agriculture and its allied activities and non farm sector and thereby reducing poverty. In India, the history of Micro Finance, rural credit, and poverty alleviation are inextricably interwoven. Micro Finance has turned out to be a very useful development assistance product. It reached millions of poor people and emerged as a revolution. Over the past two decades of the Bank’s association, India’s SHG movement has evolved from small savings and credit groups that sought to empower poor rural women, into one of the world’s largest institutional platforms of the poor. Today, 67 million Indian women are members of 6 million SHGs. Presently SKDRDP is actively involved in implementing the financial inclusion plan of the government of India by working as Banking Correspondent and Business Facilitator BC and BF in all the areas of its operation. Under the programme SKDRDP is promoting Self Help groups enabling the poor people in the remote villages to access banking facilities at their door steps. The paper is an attempt to understand the progress of SHGs members after taking micro finance service from SKDRDP. Through the current study the researcher has made an attempt to analyze the perception of selected Self help group members on Micro Finance Programme, the challenges they faced and the steps taken by SKDRDP to overcome the same due to the hit of COVID 19 and the support they got for their growth to survival. Praveena D | Dr. Ravi M N "A Study on Sustainability & Coping Ability of SHGS Members with Special Reference to SKDRDP Micro Finance Programme" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-1 , December 2020, URL: https://www.ijtsrd.com/papers/ijtsrd38086.pdf Paper URL : https://www.ijtsrd.com/management/marketing-management/38086/a-study-on-sustainability-and-coping-ability-of-shgs-members-with-special-reference-to-skdrdp-micro-finance-programme/praveena-d
Brunswick ISMEA Quarterly Newsletter - May 2017 Brunswick Group
The document discusses various topics related to financial technology (FinTech) across different regions including India, Singapore, and the Middle East. In India, the transition towards a less cash economy has opened opportunities for FinTech companies and startups, while also necessitating greater collaboration between new and traditional financial players. RegTech is emerging in Singapore to help automate regulatory compliance. In the Middle East, financial centers like Dubai and Abu Dhabi are establishing FinTech hubs and accelerators to attract startups and develop links to other regions like Asia.
Brunswick Group - ISMEA Newsletter - May 2017Brunswick Group
The document discusses various topics related to financial technology (FinTech) across different regions including India, Singapore, and the Middle East. In India, the transition towards a less cash economy has opened opportunities for FinTech companies and startups, while also necessitating greater collaboration between new and traditional financial players. RegTech is emerging as an important new category focusing on technology solutions for regulatory compliance. In the Middle East, financial centers like Dubai and Abu Dhabi are establishing FinTech hubs and accelerators to attract startups and position themselves as leaders in the industry.
This document summarizes a report on expanding access to banking services in Bihar. It finds that Bihar has very limited exposure to banking and the lowest availability of financial services in India. It recommends a two-pronged strategy: 1) Developing high-quality local financial institutions like microfinance institutions (MFIs) that partner with national banks; 2) Building technology-enabled low-cost direct service channels. Other recommendations include strengthening self-help groups, adopting cluster-based lending, revitalizing cooperatives, utilizing business correspondents, and improving cash infrastructure like currency chests. The goal is to make financial services more ubiquitous, comprehensive, and cost-effective in rural Bihar.
This document discusses financial technology (FinTech) in China and opportunities for Finland. It begins with an introduction to FinTech and the pain points it addresses in the traditional financial industry. It then outlines China's prominent status in FinTech, particularly in mobile payments, and discusses major players and trends in the market. These include the rise of technology enablers, disruptive players like Ant Financial, and traditional players expanding into FinTech. The document also notes Finland's growing FinTech sector and initiatives, and identifies leveraging existing strengths and collaborating globally and with China as keys to further developing Finland's role in FinTech.
SMART CITIES CHALLENGES IN INDIA -CASE STUDY OF CHENNAI CITYDr. C.VIJAI
The current study is based on smart city initiatives led by Honourable
Prime Minister Narendra Modi Government; to enhance the life quality
of Indian citizen and residents which has been gaining increasing
importance in the agendas of policymakers. This paper provides with a
comprehensive understanding of the notion of sc through the
elaboration of natural resources and energy, transport and mobility,
buildings, living, government, and economy and people. Results reveal
that a lot of strategies are yet to be decided by the government since
the concept of smart cities is very new in India and there are lot of
challenges that would be faced by the government during the
implementation stage of the smart city project. This paper focuses on
the concept of smart city as the Government of India launched the
smart city project for developing 100 smart cities in the country and
also concentrates on the challenges as well as the key areas for
development of smart cities in India along with the case study of
Chennai.
This document is a report from an expert committee on harnessing the India Post network for financial inclusion. It provides recommendations for India Post to expand its role in delivering universal access to core financial services of savings accounts, payments, and credit. Specifically, it recommends that India Post leverage its vast network of 155,000 branches to (1) open savings accounts for more Indians, (2) develop an electronic payments network, and (3) provide microloans to underserved communities through a proposed mechanism. The report finds that India Post is well-positioned due to its experience in savings accounts and money transfers, and that fulfilling this expanded financial inclusion role can help address both policy goals and India Post's strategic needs.
This document summarizes the key recommendations of an expert committee report on harnessing the India Post network for financial inclusion. The committee recommends that India Post should:
1. Deliver lightweight, low-cost bank accounts to all Indian citizens through outsourcing IT systems to multiple vendors.
2. Leverage its platform by providing branded accounts to partners like MFIs, insurers, and telecom companies.
3. Transform money orders into a system for transferring funds between POSB accounts using mobile phones or websites, with a target transaction fee of less than Rs. 0.1.
4. Build an integrated payments network connecting POSB accounts and partner accounts to enable digital money orders at scale.
Madagascar India Trade & Investment Promotion GroupIndia Advisors
The Madagascar-India Trade & Investment Promotion Group (MITIPG) will be an international organization focused exclusively on promoting trade and investment between India and Madagascar. MITIPG will provide basic services to its estimated 40,000 members without charge, apart from a token initial entrance fee. It will initially be funded by sponsors and patrons but aims to become self-sustaining through success fees. MITIPG will promote mutually beneficial trade, commerce, investment, industrial collaboration and other areas of economic cooperation between the two countries. It will operate at the grassroots level and include a wide range of stakeholders from both governments and the private sector.
Similar to Karandaaz Pakistan NewsBites Issue No. 2 (20)
Madagascar India Trade & Investment Promotion Group
Karandaaz Pakistan NewsBites Issue No. 2
1. Karandaaz News Bites
Quarter I - 2016
Issue No. 2
1www.karandaaz.com.pk
Participants at the Digital Credit Workshop hosted in Karachi by Karandaaz Pakistan and CGAP in February 2016
In this Issue..
Ÿ CEO's Message
Ÿ Promoting SME Finance with ORIX
Leasing Pakistan Ltd.
Ÿ Technical Committee Nominations
Ÿ Dr. Ishrat Husain Awarded Nishan-e-
Imtiaz
Ÿ Queen Maxima Meets with Karandaaz
Pakistan
Ÿ Digital Credit Workshop
Ÿ Financial Inclusion: Quarterly Showcase
Ÿ Featured Blog Post: Smarter Wallets,
Engaged Customers
CEO’s Message
Dear Friends,
It gives me immense pleasure to connect with you for the first time through this newsletter and share
some of the latest happenings at Karandaaz Pakistan. Our work over the previous quarter has covered
a broad range of initiatives aimed at increasing access to finance for SMEs via vendor financing
agreements, capacity building of the industry, and cutting edge research in user experience, user
interface design and person to government (P2G) payment initiatives across the world. I am excited to
report that Karandaaz Pakistan is providing technical input on financial inclusion as part of the State
Bank of Pakistan's technical committees.
Finally, I would like to take this opportunity to thank you for your ongoing support, and look forward
to receiving your feedback and suggestions.
Ali Sarfraz Hussain
CEO, Karandaaz Pakistan
Promoting SME Finance with ORIX Leasing Pakistan Ltd.
ORIX Leasing Pakistan Ltd. and Karandaaz Pakistan
Signed a Risk Participation Agreement to Provide USD 40
Million in Asset Financing to Small and Midsize Vendors
and Distributors in Pakistan. The innovative value chain
finance program which has been developed with financial
support from the United Kingdom Department for
International Development (DFID) will provide asset
finance for capital investment to small businesses operating
in organized supply chains of the economy that currently
do not have access to formal financing. The involvement of
large corporations will provide valuable alternate evidence
for identifying and evaluating credit worthiness of the
vendor in SME sector who do not have collateral and are
currently deprived of access to the formal financial sector.
(L-R) Teizoon Kisat, former CEO ORIX Leasing Pakistan Ltd., and from Karandaaz Pakistan
Asad Azfar, Chief Investment Officer, Imdad Aslam, Director Digital Financial Services and Dr.
Ishrat Husain, Chairman Board of Directors
2. Dr. Ishrat Husain Awarded Nishan-e-Imtiaz
For his meritorious services to the nation, Dr. Ishrat
Husain, Chairman of the Board of Directors,
Karandaaz Pakistan, has been presented the highest
national accolade, the prestigious Nishan-e-Imtiaz by
President Mamnoon Hussain on March 23, 2016.
The award was conferred in recognition of Dr.
Husain's outstanding performance in the field of
Public Service at a special investiture ceremony held
at the Aiwan-e-Sadr on Pakistan Day. The Ceremony
was attended by the highest civil and military
leadership, officials, federal ministers,
parliamentarians, diplomats and people belonging to
different walks of life. Dr. Ishrat Husain is a leading
economist and intellectual. He is the former Dean
and Director of the Institute of Business
Administration (IBA) and previously served as the
Governor of the State Bank of Pakistan.
Karandaaz Pakistan has been
nominated by the National
Financial Inclusion Strategy
(NFIS) Steering Committee
chaired by Governor State Bank
of Pakistan to three of seven
Technical Committees:
Ÿ Digital Financial Services &
Payment Systems
Ÿ Microfinance, Agriculture
Finance & Housing Finance
Ÿ SME Finance
The nominations are in line with
Karandaaz Pakistan’s areas of
focus. The ultimate goal of the
NFIS is to provide a basis for
coherent and sequential reforms
needed to address both demand
and supply side issues to help
tackle financial exclusion in an
integrated and sustained manner
fo improved results by 2020.
The Technical Committees are
expected to identify key actions,
propose detailed implementation
plans and recommend solutions
in their respective areas to the
NFIS Steering Committee. This
will enable Karandaaz Pakistan to
engage with policymakers and
play an active role in furthering
financial inclusion in Pakistan.
Queen Máxima of the Netherlands Met with
Karandaaz Pakistan
Queen Máxima of the Netherlands, in her capacity
as the United Nations Secretary General's Special
Advocate for Inclusive Finance for Development
(UNSGSA), met with the senior management team
of Karandaaz Pakistan in February 2016 where the
team briefed Queen Máxima about the aim of the
company to increase financial inclusion in Pakistan
by employing technology enabled digital solutions
and catalyzing SME financing. Imdad Aslam,
Director Digital Financial Services introduced the
DFS strategy being employed by the company to
achieve 40 percent financial inclusion of the adult
population of the country by 2018, while Asad Azfar,
Chief Investment Officer discussed the company's
approach towards improving SME access to finance
for strengthening broad based economic and
employment growth in the country.
Workshop on Digital Credit and Analytics
Karandaaz Pakistan in conjunction with the Consultative
Group to Assist the Poor (CGAP), a member of the World
Bank group, held a one-day workshop in Karachi titled
Digital Analytics and Credit: Resources to Plan a.
Facilitated by Jamal Rahal, an internationally renowned
digital credit expert and Gregory Chen, Senior Financial
Sector Specialist, CGAP, the aim of the workshop was to
provide participants with a detailed introduction to digital
credit essentials, opportunities and requirements. A total
of 54 industry players from telcos, banks, microfinance
banks and fintechs attended the workshop. (L-R) From DFID-Pakistan (UKAid): Waqas ul Hasan, Sr. Private & Financial Sector Adviser,
Dr. Louise Walker, Group Head, Economic Growth, Joanna Reid, Head of DFID Pakistan and
Dr. Ishrat Husain, Chairman Board of Directors, Karandaaz Pakistan
Issue No. 2
2 www.karandaaz.com.pk
Technical Committee
Nominations
3. Issue No. 2
Global Findex 2014
(World Bank)
There are SMEs in Pakistan, but only
about SME loans outstanding on banks'
books.
3.2 million
188,000
Financial Inclusion in Numbers
Quarterly Showcase
A2F Survey 2015
(State Bank of Pakistan)
Access to financial services has improved from of
population in 2008 to in 2015.
12%
23%
Mobile phone
ownership
Mobile wallet
usage (transaction in last 90 days)
100
50
0 Kenya Tanzania Bangladesh Pakistan India
Using Mobile Money to Promote
Financial Inclusion 2015
(Karandaaz Pakistan)
Pakistan lags behind leading countries in terms
of uptake of in comparison tom-wallets
phoneownership.
State of the Industry Report on
Mobile Money 2015
(GSMA)
29 19
52%
cross-border mobile money initiatives connected
countries, with cross-border remittances growing in
volume over the last year.
14%
47% 39%
Agri Produce
In-Kind Consumption
Non-Agri Produce
Upto different financial tools used by sampled small-
scale farming families (living on < USD 2/day) in Punjab
to diversify household income.
18
47%
23%
of Pakistani women make important financial
decisions in consultation with their husbands;
Pakistani men make important financial decisions in
consultation with their wives.
1www.karandaaz.com.pk
Smallholder Diaries 2015
(CGAP)
Access to Finance Opinion Poll 2015
(Gallup Pakistan)
3
4. User Interface, User Experience in the Digital Finance
Space
Mobile wallets in Pakistan are currently based on the
Unstructured Supplementary Service Data (USSD) channel
providing a user experience with limited ease of use. This
limited usability is a challenge for providers as it adversely
affects their ability to sustain traction and active use of wallets in
the market, especially among less literate segments of the
population. Smartphone penetration in the country currently
stands at 31 percent. This statistic is expected to increase given
that low cost smart phones are increasingly available and
improved 3G/4G services are likely to reinforce uptake among
income strata previously able to afford only feature phones.
Karandaaz Pakistan recognizes the benefits of providing
enhanced customer experience to the end user in the form of a
viable, user-friendly alternative to the USSD channel which has
the potential to ultimately contribute towards increasing mobile
wallet activity significantly. Karandaaz Pakistan has therefore
commissioned a research study aimed at developing user
friendly designs responsive to the local market, with a special
emphasis on the less literate.
GRID Impact, a global research, innovation and design
company, is currently carrying out the second round of in-depth
research with Pakistani mobile money users and providers
based on the Human Centered Design (HCD) approach.
Insights from the iterations are being incorporated into two
concept designs that will be disseminated to the industry later
this year. The resultant wireframes from the design process can
be incorporated by providers within their specific mobile
financial services applications, thereby enabling their customers
to enjoy a richer and more user friendly interface.
Issue No. 2
4 www.karandaaz.com.pk
Karandaaz Research Showcase
Global Landscape Study: P2G Payment Initiatives
Person-to-government (P2G) payments are a significant part of
the overall payments landscape. Digitizing these payments
therefore, could have tremendous economic and social benefits
for governments, companies, and consumers alike. Despite the
significance of the opportunity, digital P2G payments are still in
their early stages and very little is known about them today. The
Global P2G Landscape Study is the first comprehensive study to
take a systematic look at the opportunities and challenges
associated with digitizing P2G payments.
The Study will identify current P2G initiatives and document the
most interesting ones with a particular focus on those targeted at
unbanked and underbanked customers. The objective of the
study is to distill lessons about the success elements of moving
P2G payments from cash to digital. For the purpose of the study
P2G is defined as the transfer of funds from a citizen to an
account of the government making use of a digital platform. The
initial global scan has identified a wide range of P2G payment
initiatives, including payment of taxes (income, property, etc.),
nontax government revenue (fees for government services such
as passports, company and vehicle registration, tolls, fines, etc.),
and others including utility fees, public school fees, and social
security and pension contributions. In addition to providing a
collection of global evidence about the current range of digital
P2G initiatives, the research study exploresa key question: what
does it take to set up efficient, sustainable, and inclusive
payment systems for government fees and services? Dalberg
Development Associates has been commissioned to conduct
the research with financial and technical support being provided
by the Consultative Group to Assist the Poor (CGAP).
Photo Credits: GRID Impact Photo Credits: Web.pk
5. Bilal Ali Qureshi joined Karandaaz Pakistan as an Associate, DFS
in 2015 and is mainly responsible for implementing Karandaaz
Pakistan's government digitization agenda. His interest lies in
influencing customers to try different mobile money channels.
Prior to joining, Bilal was a strategic planning specialist at
Easypaisa, Telenor. He also has experience working with leading
development agencies in the country such as UNDP and The
World Bank.
With increasing competition in the branchless
banking OTC (over the counter) business, this
segment has become highly commission
intensive, leading to diminishing margins for
MFS (mobile financial services) providers. This
reality has pushed mobile money providers to
focus on mobile wallets as an alternate service
delivery channel. Mobile wallets help providers
move away from troublesome agent commission
wars and allows them to offer customers a
relatively more convenient service at a
substantially lower cost. A major hindrance to this
strategic shift is that demand for and uptake of
mobile wallets remains low in Pakistan.
In the aftermath of the recent SIM reverification
drive, providers requested the State Bank of
Pakistan (SBP) to grant permission for remote
mobile wallet account opening via biometric
verification. This was approved, and mobile
wallet opening in Pakistan now takes less than 5
seconds in comparison to the old process which
took over 15 minutes thus dramatically increasing
account opening efficiency. The positive impact
of this new account opening process is clearly
reflected in recent industry data; the market
witnessed a 44% growth in total number of mobile
wallets registered in Q2 of 2015.What remains
problematic is that typically, 70% of all new
accounts become inactive within 90 days of
account opening.
To increase the mobile wallet activity ratio, a few
players in the market are seeking out new ways to
incentivize mobile wallet subscribers. For the last
year providers have been offering free P2P
(person to person) transactions on their mobile
wallets, and also tested bundling free P2P with
free GSM airtime, text and data on the basis of
customers' mobile wallet activity. These
campaigns have had limited success and have not
addressed one of the core issues of the mobile
wallet: the fact that it is a cumbersome device that
is difficult to use, particularly in a low literacy
environment. To change this, providers should
consider focusing their efforts on developing a
more user-friendly mobile wallet interface.
MOVING AWAY FROM TRADITIONAL
USSD
MFS providers in Pakistan have based their
mobile financial services on the Unstructured
Supplementary Service Data (USSD) menu
which has worked superbly for the OTC model,
where an agent is trained to use a cell phone to
conduct MFS transactions. However, it is very
hard for customers to carry out similar
transactions on their phones. The USSD menu
has multiple layers, and is hard to operate, prone
to human errors and time consuming. In order to
extend mobile wallet uptake to presently
unserved markets, it is important to offer an
interface which is more understandable and thus
potentially more useable. If we map out the
global scenario, we see that in addition to USSD
and Interactive Voice Response (IVR), a growing
numbers of mobile money providers are making
their services available through apps. According
to GSMA, 62% of services are now available via
an application, a percentage that is likely to
increase as smartphone penetration rises.
With increasing smartphone penetration in
Pakistan, currently at 31%, we see a great
opportunity for mobile wallets to become the
primary MFS delivery channel. Smartphones
offer substantially more screen space and
technology capacity which lends these devices to
greater user friendliness. Smartphone apps for
mobile wallets can potentially address some of
the user experience limitations of USSD,
including session time-outs and user error.
Beyond improved user interface and experience,
smartphones offer other benefits that enable
customer retention. Providers for example, can
make necessary periodic updates to their mobile
wallets at a relatively lower cost thereby enabling
continual improvements. Moreover,
smartphones can help providers resolve some of
the problems customers face within the OTC
model such as frustration associated with a lack of
proximate and liquid agents. An agent locator
feature could be particularly useful for new
customers, along with features that enable
customers to rate agents on customer service and
liquidity metrics.
When it comes to designing smartphone apps, it
is important for providers and designers to take a
customer-centric approach. For this, app design
firms need to integrate strong research elements
within the design process. Human-centered
design is a technique that has proven successful in
incorporating customer insights into smartphone
user interface design. Once design firms have
successfully identified the need of each of the
targeted market segments, providers can
brainstorm different ways that the final app can
address those needs. Ideas being implemented in
other markets include:
Ÿ The introduction of local languages in the
MFS application interface.
Ÿ An interface that offers different symbolic
imageries and voice assistance for low literacy
markets like Pakistan.
Ÿ In effect, the feature-rich interface and
flexible functionality of smartphones can
offer a better customer experience that the
old USSD menu, and potentially ease the
adoption and usage of mobile wallets.
Read more blogposts at www.karandaaz.com.pk/blog
Issue No. 2
5www.karandaaz.com.pk
SMARTPHONE ADOPTION FORECAST BY REGION (2013-2020)
80%
70%
60%
50%
40%
30%
20%
10%
SUB-SAHARAN AFRICA
0 2013 2014 2015 2016 2017 2018 2019 2020
MIDDLE EASTLATIN AMERICAEUROPEAN UNIONASIA PACIFIC
Featured Blog Post
Smarter Wallets, Engaged Customers
6. from the British people
Karandaaz Pakistan, a Section 42 company established in August 2014, promotes access to finance for small businesses
through a commercially directed investment platform, and financial inclusion for individuals by employing technology
enabled digital solutions. The Company has financial and institutional support from leading international development
finance institutions; principally the United Kingdom Department for International Development (DFID) and the Bill &
Melinda Gates Foundation.
The Company has three work streams:
Ÿ Corporate Investment and Credit (CIC): The CIC line of business provides wholesale structured credit and equity-
linked direct growth capital investments in small and mid-size enterprises with compelling prospects for sustainable
growth and employment generation in Pakistan
Digital Financial Services (DFS): The DFS line of business focuses on expanding the poor's access to digital financial
Ÿ
services in Pakistan by working across the ecosystem with all stakeholders including regulators, policy-makers,
government departments, businesses and researchers and academics with activities arranged in four key work
areas–Policy and Regulation, Seeding Innovation, Experimentation and Solutions Development, and Scale and
Outreach.
Knowledge Management and Communications (KMC): The KMC line of business supports the company's coreŸ
financial inclusion goal by developing and disseminating evidence based insights and solutions to influence market
and the financial inclusion ecosystem.
Karandaaz Pakistan is sponsored and governed by eminent Pakistanis, and is managed by an experienced team with core
expertise in international investment management and digital finance.
1E, Mezzanine Floor, Ali Plaza,
Nazimuddin Road, F-6/4, 44000, Islamabad
Tel:(051) 8449761
Email: info@karandaaz.com.pk
facebook.com/KarandaazPK twitter.com/KarandaazPK linkedin.com/company/karandaaz-pakistan
www.karandaaz.com.pk