The use of Big Data in financial services provision is proving increasingly valuable for deepening our understanding of consumer behaviour and needs and tailoring new products, services and delivery mechanisms to address them.
In November 2016 Celina Lee, i2i Lead, and Richard Chamboko, Manager of i2i’s Measurement team, met with Bank Indonesia and Otoritas Jasa Keuangan (OJK), the financial services authority in Indonesia, to present i2i’s research on approaches to improving the measurement of financial inclusion. Bank Indonesia and OJK have conducted financial capability surveys and are dedicated to improving the data and measurements used to inform financial inclusion initiatives in their respective jurisdictions.
In November 2016, Celina Lee, i2i Lead, participated in the Financial Sector Deepening (FSD) network’s 8th annual CEOs meeting. The meeting, organized by FSDA in Addis Ababa, was attend by the CEOs and Directors of FSDA, FSDT, PEPE (Ethiopia), FSDZ, FSDM, FSDU, FSDK, and AFR and was an opportunity for the leadership of the FSDs to share experiences, coordinate, and identify new areas of collaboration.
i2i has partnered with local stakeholders across Africa to run a series of competitions that seek to advance collaboration between young innovative minds in Africa and financial sector players. The initiative aims to promote and demonstrate the use and analysis of data to FSPs, which will ultimately serve financially excluded individuals through innovative data analytics.
In November 2016, i2i and FSD Tanzania co-host an event in Dar es Salaam to demonstrate the value of spatial data for the financial sector and drive evidence-based decisions in areas such as KPI measurement, product design and implementation, and strategic investments.
In October 2016, i2i attended the ILO Impact Insurance Facility’s first community of practice meeting, alongside donor institutions, market facilitators, microinsurers and Impact Insurance Fellows in Nairobi, Kenya.
In September 2016, i2i attended the CAO Forum in Johannesburg, to explore the degree to which analytics leadership is being recognised in South Africa.
In September 2016, i2i attended the Alliance for Financial Inclusion (AFI) Global Policy Forum in Nadi, Fiji. Over 500 people attended the event co-hosted by the Reserve Bank of Fiji (RBF) to discuss the theme for this year: building the pillars of sustainable inclusion.
In August 2016 the i2i co-hosted a breakfast meeting in Uganda with Financial Sector Deepening Uganda (FSD Uganda) where financial service providers (FSPs) were invited to explore the potential of new data sources to unlock new opportunities in the market. The meeting was part of a multi-country mission that started in Ghana and also included Rwanda and Tanzania.
In August 2016, the i2i co-hosted a breakfast meeting in Accra, Ghana with the Bank of Ghana where financial service providers (FSPs) were invited to explore the potential of new data sources to unlock new opportunities in the market.
The event will feature an interactive discussion on the findings of the Client Insights Focus Note, which covers the increasing adoption by the private sector of alternative data sources and analytical methodologies for financial service provision.
Barclays Rise’s 24-hour Financial Inclusion Hackathon brought together developers, creatives and industry experts to jointly develop an idea, which is tested through rapid prototyping. The group was split into teams of 10 who each had seven minutes to pitch their ‘product’ to a panel of experts who then selected a winner. The outcome is not comprehensive problem-solving, but playful and creative ideation.
i2i’s measurement and data quality teams participated in the AFI Financial Inclusion Data Working Group (FIDWG) meeting that took place in San Salvador, El Salvador from 5-7 April 2016. Mia Thom presented the team’s work on priority areas for financial inclusion measurement. See her presentation below. The meeting convened more than 30 FIDWG members and partners with the aim of shaping the working group’s three-year strategy.
insight2impact | i2i was officially launched at a cocktail function in Cape Town on 19 November, following Day 1 of The MasterCard Foundation on Financial Inclusion. Welcoming addresses by i2i Interim Lead, FinMark Trust, Cenfri, The MasterCard Foundation and the Bill & Melinda Gates Foundation emphasised that this collaboration indeed binds together 2 partners, 2 foundation and 1 vision:
In September 2015, Herman Smit, interim lead of i2i, participated in the 7th AFI Global Policy Forum in Maputo, Mozambique. The event was attended by over 450 senior financial inclusion policymakers and regulators, along with leaders from international organisations and the private sector.
In July 2015 the i2i data quality team hosted a workshop for the FSD Network entitled Location Matters: GIS in Financial Inclusion. This workshop fell over two days from July 22 to July 23 in Johannesburg, South Africa. It focused on how Financial Sector Deepening Trusts (FSDs) and their partners can use geographic information systems (GIS) and geospatial data to better understand current challenges in financial inclusion.
In June 2015, Herman Smit, interim lead of i2i, and Christiaan Loots, interim head of client insight at i2i, attended a learning event on Measuring Market Development hosted by the Consultative Group to Assist the Poor (CGAP) in Paris, France. The purpose of the event was to convene key stakeholders involved in financial inclusion market development programmes to assist them to better measure the impact of their work.