The Level One Project Guide

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The Level One Project Guide
Designing a New System for Financial Inclusion
In this section of the website, you will find that we have divided the Level One Project Guide text across multiple pages for you to easily read and comment, starting with the executive summary on the next page. To download the full document, please use the links below.

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  Download the Arabic version

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  • [email protected]

    I applaud Gates effort to establish clear, actionable guide to making a cost-effective eco-system for mobile financial services.

    However, substantial additional work is required on the ‘last-mile’ problem. The best core systems, regulation and use cases will all be meaningless unless the end-user can access the system. This is THE major impediment to scale. M-Pesa accomplished scale through its monopoly access to the SIM card in Kenya instantly achieving the promise of network effect, critical in all payments businesses. Nokia Money accomplished similar growth rates by working on ANY mobile phone brand with ANY SIM card.

    Inter-operability can be solved by connecting multiple closed-loop systems in the back-end OR it can be designed into a system by offering the right user-access channels. USSD, while ubiquitous, is telco-controlled or expensive (India). SMS is not secure. Apps (typically) do not work without mobile internet access, which <20% of emerging markets can afford.

    There are solutions available to these problems as I have outlined in "The Three Billion New Middle-Class Opportunity: The Successes & Technical Challenges of Mobile Financial Services in the Emerging Markets" Journal of Payments Strategy & Systems Fall 2014. or