Ashok Jhunjhunwala
AJ: If mobile trasactions have a huge role to play in smoothening the income of the bottom of the pyramid some form of loan is required at a cost below microfinance. How do you do risk assessment?
Harsha de Silva: You have hit the nail on the head. This is where the revolution will take place in financial inclusion. What we may see is poor people maintaining a marginal account in the bank with a set OD limit. There is always the function in people in these parts of the world of wanting to save. Financial institutions linking up to the bottom of the pyramid is where the revolution will begin. Good relationships with customers who need the service will ensure trust on an overall long term basis.
AJ: As soon as you start going towards the bttom of the pyramid any kind of text based interaction becomes harder. Case in point; India. People prefer voice based communication at that level. People are more comfortable talking to an automated computer than engaging in text based communications.
Chirag Jain: It’s literacy as well as language i think. The bottom of the pyramid will pay and pay for utilitarian services. One of the highest sales for Idea telecom’s music download service came from the rural areas of Bihar where people did not have access to any kind of entertainment. They paid money to listen to the same song over and over.
1 Comment
padmahasta roy
All Waste of Time!!!