Improve Access to Financial Services in Rural Areas

Objectives:

Building on CGAPs global API experience, the objectives of each API project are to:

1. Introduce the principles of human-centered design to the branchless banking provider and identify insights on how the process of HCD can work most effectively in the context of smallholder farmers;
2. Identify insights into the financial services needs of smallholder families (including needs not related to agricultural production) and how effectively those needs are currently being met;
3. Identify ways by which digital technology can help meet the financial services needs of smallholder families;
4. Design and test a digital financial product (or a substantive improvement over a current product) tailored to the need(s) of the targeted smallholder households that would be financially sustainable and in line with the branchless banking providers business model;
5. Offer support and guidance to the branchless banking provider in the implementation strategy and piloting of the newly-designed product; and,
6. Deepen CGAPs understanding of human-centered design and Applied Product Innovation and communicate as much non-commercial information as possible about the methodology, tools, and resulting products through a variety of channels.

Audience:

Given the high level of interest in designing financial services tailored to smallholder households, the API projects will inform the broad array of actors promoting financial inclusion for this client group. This includes branchless banking providers and other financial service providers interested in better understanding and serving smallholder households, as well as a range of donors active in the sector. Other private sector actors, regulators, agricultural development organizations, and academics can also use these findings to design and better tailor products and interventions to the specific needs of smallholder households.