Smart Note: Appropriate Product Design and Delivery at Musoni

> Posted by Maggie Long
The success of mobile banking in Kenya has led to a lot of discussion about its potential impact on financial inclusion around the globe and, as technology has improved, the discussion has come to include what additional services can be offered through mobile banking. Musoni is a Kenyan microfinance institution that uses mobile technology to provide flexible and convenient loans along with a variety of other services to low-income people based on their needs and preferences.
In the new Smart Note, Appropriate Product Design and Delivery at Musoni, Musoni talks to the Smart Campaign about how they conducted in-depth, participatory research to determine what potential clients wanted and needed from a microfinance institution. Only after thorough client research did they design their product. Through their research they discovered clients wanted better access, more flexibility, price transparency, and financial education.
Musoni found that not only has mobile technology allowed them to address these preferences but it has also reduced clients’ personal risk, lowered delinquency, reduced potential fraud, and created a “positive dynamic” between the MFI and its clients.
We believe this Smart Note is a good resource for organizations interested in mobile banking and for MFIs designing a product based on clients’ preferences.
To learn more about how Musoni uses client feedback to develop products, please download the Smart Note.
Have you read?
Mobile Money as a (Payment) Planning Tool
5 Tough Questions About Mobile Banking
Otero on Mobile Banking

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