Posts by Daryl Collins
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The Economic Lives of Sex Workers: Can Financial Inclusion Offer Women a Path Out of the Sex Trade?
True financial inclusion involves reaching marginalized workers, and few are more marginalized than sex workers. Like everyone, these workers have financial needs and goals - including, for many, the goal of finding a safer livelihood. Daryl Collins, CEO of BFA, walks through the revenues and expenses of a sex worker in Ghana to show how access to financial services can impact sex workers – and why mainstream providers need to see the value in this overlooked population.
- Categories
- Entrepreneurship
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Innocent Ephraim / Daryl Collins
The Secret Ingredient in Product Design: How Crossing the ‘Emotional Gateway’ Can Boost Financial Services
Banks can be intimidating places for people who have never set up an account, let alone stepped foot in one. But people love and trust their savings groups, which are a mainstay of financial security in dozens of countries. Innocent Ephraim at the Financial Sector Deepening Trust and Daryl Collins at Bankable Frontier Associates (BFA) ask: How can formal providers offer financial services that appeal to users in the same way?
- Categories
- Inclusive Fintech
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Daryl Collins / Kristy Bohling
NexThought Monday: The benefits of cross-selling financial products
Formal financial institutions often struggle to justify the business case for serving poor clients. Acquisition costs are high and low balance savings are not sustainable. At the same time, providers recognize that only providing credit to clients may be profitable, but may not develop client trust and longer-term engagement. As a result, cross-selling in recent years has become a popular strategy for financial service providers, including those trying to reach lower-income clients. How can we make it work for everyone?
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- Uncategorized