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 |
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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 |
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okr-10986-216832021-04-23T14:04:04Z Emergency Hand Loan : A Product Design Case Study International Finance Corporation ACCESS TO FINANCE ACCESSIBLE LOAN ACCIDENTS ACCOUNTING ADVISORY SERVICES APPROVAL PROCESS BANK CUSTOMER BANKING SERVICES BANKS BASIC NEEDS BENEFICIARIES BORROWER BORROWING BRANCH BRANCHES CASE OF DEFAULT CASH ADVANCES CASH FLOW CASH FLOWS CASH SHORTAGE CASH SHORTAGES COLLATERAL COLLATERAL REQUIREMENT CONSUMER CHOICE CREDIT CARD CREDIT LINE CREDIT OPTIONS CREDIT PRODUCTS CUSTOMER RELATIONSHIP DEBT DEBTS DEVELOPING COUNTRIES DISBURSEMENT DISBURSEMENTS EMERGENCY FINANCING EMERGENCY FUNDS EMERGENCY LOANS EMPLOYER EMPLOYERS EXCHANGE RATES EXPENDITURE EXPENDITURES FINANCE SERVICES FINANCES FINANCIAL ACCESS FINANCIAL COMPANY FINANCIAL CONCERNS FINANCIAL COST FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL NEEDS FINANCIAL PRODUCTS FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICES FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL VIABILITY FINANCING NEEDS FORMAL FINANCIAL SERVICE HIGH INTEREST RATES HOLDING HOLDING COMPANY HOUSEHOLDS INCENTIVE STRUCTURES INCOME INCOMES INFORMAL LENDERS INFORMAL LOANS INFORMATION SYSTEM INSTALLMENTS INSURANCE INTEREST PAYMENT INTEREST RATE INTEREST RATES JOINT LIABILITY LATE PAYMENTS LIFE INSURANCE LIQUIDITY LOAN LOAN AMOUNT LOAN AMOUNTS LOAN DATA LOAN PRODUCT LOAN PRODUCTS LOAN RECOVERY LOAN REPAYMENT LOCAL MARKET LOCAL MONEYLENDERS LOW-INCOME FAMILIES MARKET VALUE MAXIMUM LOAN AMOUNT MFI MFIS MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE PRACTITIONERS MOBILE PHONES MONEY LENDERS MONEY MANAGEMENT MONEY MARKET MONEYLENDERS MUTUAL FUND NATURAL DISASTERS NEED FOR CREDIT NEW PRODUCT NEW PRODUCTS OPERATING COST OUTREACH PAWNBROKER PAWNBROKERS PENALTIES PENALTY PEOPLES PORTFOLIO POTENTIAL BORROWERS PROFITABILITY PROMISSORY NOTE REMITTANCE REPAYMENT REPAYMENT BEHAVIOR REPAYMENT CAPACITIES REPAYMENT RATE REPAYMENT RATES REPAYMENT RECORDS REPAYMENT SCHEDULES REPAYMENTS REPUTATION SALARY SAVINGS SAVINGS ACCOUNT SEES SMALL INSTALMENTS SMALL-BUSINESS SMALL-BUSINESS LOANS SOURCES OF FINANCE STORE TUITION VILLAGE WOMAN 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. 2015-04-02T21:36:11Z 2015-04-02T21:36:11Z 2015-03 Working Paper http://documents.worldbank.org/curated/en/2015/03/24158037/emergency-hand-loan-product-design-case-study http://hdl.handle.net/10986/21683 English en_US CC BY-NC-ND 3.0 IGO http://creativecommons.org/licenses/by-nc-nd/3.0/igo/ International Finance Corporation Washington, DC Publications & Research Publications & Research :: Working Paper South Asia India |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCESS TO FINANCE ACCESSIBLE LOAN ACCIDENTS ACCOUNTING ADVISORY SERVICES APPROVAL PROCESS BANK CUSTOMER BANKING SERVICES BANKS BASIC NEEDS BENEFICIARIES BORROWER BORROWING BRANCH BRANCHES CASE OF DEFAULT CASH ADVANCES CASH FLOW CASH FLOWS CASH SHORTAGE CASH SHORTAGES COLLATERAL COLLATERAL REQUIREMENT CONSUMER CHOICE CREDIT CARD CREDIT LINE CREDIT OPTIONS CREDIT PRODUCTS CUSTOMER RELATIONSHIP DEBT DEBTS DEVELOPING COUNTRIES DISBURSEMENT DISBURSEMENTS EMERGENCY FINANCING EMERGENCY FUNDS EMERGENCY LOANS EMPLOYER EMPLOYERS EXCHANGE RATES EXPENDITURE EXPENDITURES FINANCE SERVICES FINANCES FINANCIAL ACCESS FINANCIAL COMPANY FINANCIAL CONCERNS FINANCIAL COST FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL NEEDS FINANCIAL PRODUCTS FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICES FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL VIABILITY FINANCING NEEDS FORMAL FINANCIAL SERVICE HIGH INTEREST RATES HOLDING HOLDING COMPANY HOUSEHOLDS INCENTIVE STRUCTURES INCOME INCOMES INFORMAL LENDERS INFORMAL LOANS INFORMATION SYSTEM INSTALLMENTS INSURANCE INTEREST PAYMENT INTEREST RATE INTEREST RATES JOINT LIABILITY LATE PAYMENTS LIFE INSURANCE LIQUIDITY LOAN LOAN AMOUNT LOAN AMOUNTS LOAN DATA LOAN PRODUCT LOAN PRODUCTS LOAN RECOVERY LOAN REPAYMENT LOCAL MARKET LOCAL MONEYLENDERS LOW-INCOME FAMILIES MARKET VALUE MAXIMUM LOAN AMOUNT MFI MFIS MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE PRACTITIONERS MOBILE PHONES MONEY LENDERS MONEY MANAGEMENT MONEY MARKET MONEYLENDERS MUTUAL FUND NATURAL DISASTERS NEED FOR CREDIT NEW PRODUCT NEW PRODUCTS OPERATING COST OUTREACH PAWNBROKER PAWNBROKERS PENALTIES PENALTY PEOPLES PORTFOLIO POTENTIAL BORROWERS PROFITABILITY PROMISSORY NOTE REMITTANCE REPAYMENT REPAYMENT BEHAVIOR REPAYMENT CAPACITIES REPAYMENT RATE REPAYMENT RATES REPAYMENT RECORDS REPAYMENT SCHEDULES REPAYMENTS REPUTATION SALARY SAVINGS SAVINGS ACCOUNT SEES SMALL INSTALMENTS SMALL-BUSINESS SMALL-BUSINESS LOANS SOURCES OF FINANCE STORE TUITION VILLAGE WOMAN |
| spellingShingle |
ACCESS TO FINANCE ACCESSIBLE LOAN ACCIDENTS ACCOUNTING ADVISORY SERVICES APPROVAL PROCESS BANK CUSTOMER BANKING SERVICES BANKS BASIC NEEDS BENEFICIARIES BORROWER BORROWING BRANCH BRANCHES CASE OF DEFAULT CASH ADVANCES CASH FLOW CASH FLOWS CASH SHORTAGE CASH SHORTAGES COLLATERAL COLLATERAL REQUIREMENT CONSUMER CHOICE CREDIT CARD CREDIT LINE CREDIT OPTIONS CREDIT PRODUCTS CUSTOMER RELATIONSHIP DEBT DEBTS DEVELOPING COUNTRIES DISBURSEMENT DISBURSEMENTS EMERGENCY FINANCING EMERGENCY FUNDS EMERGENCY LOANS EMPLOYER EMPLOYERS EXCHANGE RATES EXPENDITURE EXPENDITURES FINANCE SERVICES FINANCES FINANCIAL ACCESS FINANCIAL COMPANY FINANCIAL CONCERNS FINANCIAL COST FINANCIAL INSTITUTIONS FINANCIAL INSTRUMENTS FINANCIAL MANAGEMENT FINANCIAL NEEDS FINANCIAL PRODUCTS FINANCIAL SERVICE FINANCIAL SERVICE PROVIDER FINANCIAL SERVICES FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL VIABILITY FINANCING NEEDS FORMAL FINANCIAL SERVICE HIGH INTEREST RATES HOLDING HOLDING COMPANY HOUSEHOLDS INCENTIVE STRUCTURES INCOME INCOMES INFORMAL LENDERS INFORMAL LOANS INFORMATION SYSTEM INSTALLMENTS INSURANCE INTEREST PAYMENT INTEREST RATE INTEREST RATES JOINT LIABILITY LATE PAYMENTS LIFE INSURANCE LIQUIDITY LOAN LOAN AMOUNT LOAN AMOUNTS LOAN DATA LOAN PRODUCT LOAN PRODUCTS LOAN RECOVERY LOAN REPAYMENT LOCAL MARKET LOCAL MONEYLENDERS LOW-INCOME FAMILIES MARKET VALUE MAXIMUM LOAN AMOUNT MFI MFIS MICROFINANCE MICROFINANCE INSTITUTIONS MICROFINANCE PRACTITIONERS MOBILE PHONES MONEY LENDERS MONEY MANAGEMENT MONEY MARKET MONEYLENDERS MUTUAL FUND NATURAL DISASTERS NEED FOR CREDIT NEW PRODUCT NEW PRODUCTS OPERATING COST OUTREACH PAWNBROKER PAWNBROKERS PENALTIES PENALTY PEOPLES PORTFOLIO POTENTIAL BORROWERS PROFITABILITY PROMISSORY NOTE REMITTANCE REPAYMENT REPAYMENT BEHAVIOR REPAYMENT CAPACITIES REPAYMENT RATE REPAYMENT RATES REPAYMENT RECORDS REPAYMENT SCHEDULES REPAYMENTS REPUTATION SALARY SAVINGS SAVINGS ACCOUNT SEES SMALL INSTALMENTS SMALL-BUSINESS SMALL-BUSINESS LOANS SOURCES OF FINANCE STORE TUITION VILLAGE WOMAN International Finance Corporation Emergency Hand Loan : A Product Design Case Study |
| geographic_facet |
South Asia India |
| description |
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. |
| format |
Working Paper |
| author |
International Finance Corporation |
| author_facet |
International Finance Corporation |
| author_sort |
International Finance Corporation |
| title |
Emergency Hand Loan : A Product Design Case Study |
| title_short |
Emergency Hand Loan : A Product Design Case Study |
| title_full |
Emergency Hand Loan : A Product Design Case Study |
| title_fullStr |
Emergency Hand Loan : A Product Design Case Study |
| title_full_unstemmed |
Emergency Hand Loan : A Product Design Case Study |
| title_sort |
emergency hand loan : a product design case study |
| publisher |
Washington, DC |
| publishDate |
2015 |
| url |
http://documents.worldbank.org/curated/en/2015/03/24158037/emergency-hand-loan-product-design-case-study http://hdl.handle.net/10986/21683 |
| _version_ |
1764448971687723008 |