MSC worked for IFC in Bangladesh to financially include more women by promoting the use of mobile financial services (MFS). We used our signature Market Insights for Innovation and Design (MI4ID) approach and behavioral research methods to conduct an extensive in-depth research to understand the needs, requirements, and preferences of female MFS users in the country.
Based on research insights and requirements on the demand and supply sides, MSC designed two women-centric MFS products. These products were to be concept-tested. With women representing less than 3% of MFS agents in Bangladesh, the project also highlighted that enrolling more women MFS agents will, in turn, increase the use of MFS among female users.
MSC documented the lessons in knowledge material produced for the engagement. Bangladesh Bank recognized the importance of the appropriate products and toolkits and highlighted the report and product ideas on its website.