Emergency Hand Loan : A Product Design Case Study
The poor and other underserved populations in developing countries have unique financial service s needs. However, there is often a mismatch between what financial institutions offer and what underserved populations need or want. This product gap m...
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| Format: | Working Paper |
| Language: | English en_US |
| Published: |
Washington, DC
2015
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| Online Access: | http://documents.worldbank.org/curated/en/2015/03/24158037/emergency-hand-loan-product-design-case-study http://hdl.handle.net/10986/21683 |
| Summary: | The poor and other underserved
populations in developing countries have unique financial
service s needs. However, there is often a mismatch between
what financial institutions offer and what underserved
populations need or want. This product gap may reflect a
lack of interest by financial institutions in designing more
target products, or a lack of willingness or capacity on the
part of financial institutions to design, market and
implement tailor-made financial products. The objectives of
the Product Design Case Studies are to 1) develop expertise
related to product design and innovation processes through a
better understanding of best practices in the field, in
depth research and application of behavioral economics
concepts; 2) increase awareness of product design/innovation
and the links between product development and financial
inclusion; and 3) generate publicity and knowledge sharing
around product design and innovation. While the hand loan
product was broadly successful in achieving its original
intent, the pilot encountered considerable institutional and
execution challenges that are instructive for future product
innovation efforts. The first two sections describe the
problem and the innovative product designed to address it.
The next section describes the final design and
implementation of the product in detail. The fourth section
covers post-pilot data collection and results. The final
sections discuss lessons learned and planned future enhancements. |
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