Another Revolution Under Development: E/M-Banking at Equity Bank Equity Bank's determination to be client responsive has led to the achievement of extraordinary scale - and created a remarkable bond between the clients and the bank. As the bank's growth continues, clients are beginning to demand improved products and communication.
MicroSave's current round of work with the bank is helping it to bring services and products closer to clients through bank-managed agents. The highlight of this approach is that the bank seamlessly integrates its wide spread network of agents to the core functions of the bank, thus providing clients an enhanced range of convenient opportunities to interact and transact with the bank. MicroSave worked with the bank's teams to prepare for agent-based banking, focussing on: - development and pilot-testing of five new products designed for delivery across the agent-banking platform;
- design of the tariff/commission structures;
- detailed process mapping and risk analysis to optimise front and back office processes;
- development of compliance systems to ensure that processes are followed;
- development and implementation of agent management systems to manage selection, recruitment, on-boarding, day-to-day management, etc;
- development of a training of trainers programme;
- training of agency supervisors;
- using MicroSave's acclaimed Customer and Channel Satisfaction Measurement and Management (CSM) system to review customer and channel issues; and
- the identification and resolution of technology support issues.
In addition to support viability of agents through expansion of the product basket offered through agency, MicroSave worked with the bank to rationalise credit and insurance products. We also developed matrices to push some of the rationalised products to the agency and self-service modules. In order to enhance customers, agents and staff members' communication and build an aligned marketing agenda, we also worked with the bank to develop outline strategic marketing and communication plans.
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Marketing Communications Strategy for Equity Bank
MicroSave was contracted under the GAFIS project to help Equity Bank develop a marketing communications strategy to facilitate roll out of its agency banking services. MicroSave team conducted interviews with key stakeholders - agency staff, agents, clients and the marketing and communications team to establish the current communications in place, gaps and objectives to guide the plan. The team then developed a two year integrated marketing communications strategy that included four distinct marketing campaigns, each with a mix of channels drawn from the five part marketing communications mix - personal selling, direct marketing, sales promotions, public relations and advertising. |
Strategic Marketing Plan for Juhudi Kilimo
MicroSave was contracted by the Financial Inclusion for Rural Micronterprises (FIRM) project to develop a three year strategic marketing plan for Juhudi Kilimo, a rural-focussed Microfinance Institution (MFI) in Kenya. MicroSave conducted a marketing audit of Juhudi that involved a macro and micro-environment analysis and SWOT analysis. In addition, MicroSave facilitated a workshop with key staff drawn from head office and branches to create buy-in for the marketing plan by providing them an opportunity to discuss the findings of the audit, and contribute to the development of the marketing plan. MicroSave team developed a comprehensive three year strategic marketing plan incorporating an implimentation plan and monitoring system. The plan is currently being rolled out. |
Financial Products for Water and Sanitation in Kenya MFIs in Kenya are seeking to expand financial services to non-income generation activities to grow their businesses. The change in regulation in the last decade towards privatisation of provision of water, sanitation facilities and hygiene services has transformed this sector and attracted the attention of MFIs as a potential growth sector. It must however be noted that the interest has been trigerred by catalytic support by international NGOs and donor agencies in the water sector such as Water.org, the World Bank and United States of America International Development (USAID). MicroSave was contracted by two MFIs towards the end of 2011 to conduct water and sanitation market needs assessment with a view to developing appropriate financing products. In both cases, assessments focussed on understanding selected community's water sanitation and hygiene (WASH) needs, current coping mechanisms, challenges, and viable solutions using qualitative research methods and MicroSave's product development approaches. There is great need for water, sanitation and hygiene services in the areas visited given limited services by the water companies, city councils and muncipalities. For example, a participant in a focus group discussion in Kisumu expressing the risks of contracting diseases faced in his neighbourhood noted in Kiswahili, "Sisi tunaishi tu na nguyu ya mungu, hatoona vyoo hapa na bafu, kuoga ni kwa nyumba ama usiku giza ikiingia." (Here we just survive by the power of God. We do not have toilets and bathrooms. We bath inside our houses or bath at late in the night besides our houses.) Sessions with government and NGO officials provide insights into broader programmes that MFIs do not regularly participate in. For example, sanitation awareness campaigns by NGOs and government officials are important in triggering demand for sanitation services. For example, bathing at the river banks in Nyanza region has significantly reduced following major government awareness creation. Such broader programmes translate into people seeking financing, for example, to install water tanks for water storage or to harvest rain water, connect to piped systems, construct improved pit latrines or connect to the main sewer lines. Financing of water and sanitation services is likely to form a network of private small WASH service providers including artisans, contractors, water vendors, community pay toilet operators and possibly pay/volunteer hygiene educators. Traditional MFI loan officers may need to develop new skills to work with these entrepreneurs in the WASH sector. Managing complex relationships in the WASH sector may necessitate MFIs to deploy specialised officers to effectively engage households seeking financial support to construct facilities for domestic use as well as private services providers operating WASH enterprises. As MFIs pilot new products, it will be sometime before MFIs in Kenya prove the viability of WASH sector as a new business segment.
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