The Digital Transformation Guide
To effectively support their clients and reach new populations in an increasingly digital environment, financial service providers (FSPs) need to move away from low-tech, high-touch models designed decades ago to reach millions of low-income clients. They must find digital ways to reach and interact with their customers efficiently and at scale, use their client data for more efficient credit management and product design, and build more flexible core systems that support adaptability.
This paper unpacks each of the below strategies Accion has uncovered through its work with FSPs and their clients, and shares real examples of implementation experiences across FSP partners:
- Combat the digital divide on multiple fronts.
- Optimize organizational design.
- Build (and rebuild) a culture of experimentation.
- Have a clear data strategy.
- Future-proof your transformation with the right technology platform.
- Form partnerships to achieve scale.