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Financial Inclusion But how ? The Tracom SPS group of companies - PowerPoint PPT Presentation

Financial Inclusion But how ? The Tracom SPS group of companies Collaborative innovation Reinvent Inspire your customers Analyse and design Secure Drive efficiencies Create Manage Revenue risks streams Monitor and track TRACOM 17


  1. Financial Inclusion But how ?

  2. The Tracom ‐ SPS group of companies Collaborative innovation Reinvent Inspire your customers Analyse and design Secure Drive efficiencies Create Manage Revenue risks streams Monitor and track TRACOM ‐ • 17 May, 2018• 2

  3. The financial exclusion elephant minorities Senior citizens Migrants Urban slum Marginal farmers MSE Oral lessees Landless farmers TRACOM ‐ • 17 May, 2018• 3

  4. Requisite tools to move the elephant Holistic Agent Branchless Viability Agent Technology Proven success through Biometrics o Agents (Business correspondents) Product Easy access to credit (CC) Multi application card o Support infrastructure Elimination of entry barriers TRACOM ‐ • 17 May, 2018• 4

  5. � ���� � � �� �� ���� Top Five Global Trends Changing The Banking Experience Interrelated trends are disrupting the financial industry as we know it. �� � ��� � �� �� �� � �� � �� � ������ � �� � �� �� ������ �� � �� � ����� �� ��� � �� �� � �� � 3.0 � ��� �� � � � � ��� � ��� � �� � ����� ��� ����� � � �� �� � �� �� � � �� ��� � �� �� TRACOM ‐ • 17 May, 2018• 5

  6. � ���� � � �� �� ���� Drive To Digital With the rapid expansion of digital devices today, consumers want to manage financial services on demand using the device(s) of their choice. Like many other aspects of our lives, banking has been significantly influenced by online and mobile adoption. This will continue to have a significant impact on how banks must deliver their services. TRACOM ‐ • 17 May, 2018• 6

  7. � ���� � � �� �� ���� Emergence Of Customer 3.0 Living in a digital world, FI’s need to provide a highly personalized approach in consumers’ communications, products and service. The customer 3.0 expects a seamless, customized and simple experience in their banking interactions too. TRACOM ‐ • 17 May, 2018• 7

  8. OMNICHANNEL � � � “Delivering a similar experience across multiple channels” “Meaningful orchestration of �� ����� �� � client experiences � �� � � � �� � �� across multiple channels” TRACOM ‐ • 17 May, 2018• 8

  9. The Current Situation �� ����� �� � � �� � � � �� � ��� � ����� ����� �� � �� ����� �� ���� � � ��� �� � �� ��� � ��� �� � � �� �� �� � � �� ��� � �� ��� ����� � ����� 80% of consumers differentiate between brands of toilet paper <5% of consumers differentiate between brands of retail banks ���� ��� � � ��� � �� ����� � �� � ��� � �� � ����� � ��� � �� � ����� � �� � ����� � � � �� � �� ��� TRACOM ‐ • 17 May, 2018• 9

  10. � ���� � � �� �� ���� “Retailification” Of Branches The retail industry has changed the consumer experience causing banks and credit unions to reinvent their physical branches. Digital expansion, new technologies and the customer 3.0 are forcing the reinvention of the banking experience that is driving ������ � � � � ������ � �� points of interaction to deliver a more retail ‐ like personalized experience. ���� �� �� � ��� � � ������� ��� TRACOM ‐ • 17 May, 2018• 10

  11. � ���� � � �� �� ���� Security As A Differentiator Improving security is critical to the success of FIs as consumers require confidence in feeling protected. Sophisticated computer hacking tools, services and byproducts such as stolen credit card numbers continue to expand, creating an increasing threat. TRACOM ‐ • 17 May, 2018• 11

  12. Biometrics physiological based on behavior Examples: Example:  Fingerprint  Signature  Hand: Geometry, Veins  Voice  Face  Lip Movement  Eye (Iris or Retina)  Type Rhythm TRACOM ‐ • 17 May, 2018• 12

  13. � ���� � � �� �� ���� New Economics of Banking This crisis is different from many others that have occurred over the past 20 years; it is global. Regulatory burdens, high capital requirements, changing consumer behavior will continue to put pressure on profitability for the foreseeable future. TRACOM ‐ • 17 May, 2018• 13

  14. Agency Banking TRACOM ‐ • 17 May, 2018• 14

  15. Agency banking Agents Agents Branch Agents Agents Agents Branch Agents TRACOM ‐ • 17 May, 2018• 15

  16. Financial Institution’s role: making available affordable services to meet different needs Basic Banking Services  Account opening origination  Cash deposit and withdrawal  Balance enquiries  Mini-statements generation Payments  Goods and services Bills payment e.g. school fees, utilities, rent Money Transfer  Send and receive money locally and internationally Credit  Loan origination Note: Branches are responsible for credit decisions and approvals, not the agents  Loan payments acceptance Insurance  Insurance applications origination  Certificates of insurance issuance Banking Agent processing a financial transaction  Premium payments Revenue collection  Government taxes and collections  Bill payment TRACOM ‐ • 17 May, 2018• 16

  17. What Consumers Want ����� � � ���� ���� � �� � ��� � ���� �� �� � � �� � � � ��� � ��� � �� � ��� � ���� � ������� ����� ��� ����� � ����� in control � � � �� � �� � ���� � � ����� � �� � ���� � �� � �� �� � �� ��� � ��� �� � � � ���� � � �� � ��� � � � � ���� � � ���� � � �� ��� � � � ���� �� �� �� �� � � � � � �� ���� ��� �� ��� �� �� �� �� ��� �� � �� ��� � � � ���� � �� �� � � � ��� � �� �� �� �� �� ��� � • �� • � �� � � � �� �� �� � � �� � � � �� �� �� �� � � � � � � ��� �� • ��� • �� ������� �� �� � ��� � � � ���� � �� ��� Agent 2.0 ���� ��� � � � � �� � ��� ����� ��� • �� �� � ��� �� � • �� ������ � • �� �� �� �� �� �� � � ���� �� • �� ��� � �� �� � �� ��� � • �� ��� � �� ��� � • ��� ��� �� � �� �� ����� �� � � � � �� ��� • �� ����� � • �� �� � �� �� � � �� �� � TRACOM ‐ • 17 May, 2018• 17

  18. 360 0 value addition •Convenience: We bring banking to your doorstep •New Revenue stream •Increased foot traffic to •Cost: we reduce your cost of banking existing business • Demystify banking ‐ Reach •Brand affiliation •Improved business systems and practices eg insurance, cash management, people Agent management etc Customer Bank Government •Access at a reasonable cost •Cost Reduction: Reduce costs incurred in setting up a branch •Sound and safe institutions governed by clear regulation and industry •Competitive Pricing: Translates to performance standards; better pricing for customers due to transaction volumes •Financial and institutional sustainability, to ensure continuity and •Profitability: More profit for the certainty of investment; bank •Competition to ensure choice and •Faster growth: Not constrained by affordability for clients. our physical infrastructure •Moving and keeping money within •Leverage on technical formarl financial ecosystems infrastructure TRACOM ‐ • 17 May, 2018• 18

  19. « Proximity » means… getting close to people This is the only way to win them over TRACOM ‐ • 17 May, 2018• 19

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