Project Everest

Work Update

Work Update - Plug n' Play Experiments for Solar

Since the Microfinance team has been involved with the solar project, we have learned a lot about how a potential Microfinance system could be applied to asset products such as the solar light. However, our high default rates and inability to track payments with automated processes also shows us that there is a long way to go in terms of understanding how to manage and run this system effectively. As a team, we still need to explore a few things in order to guarantee that this system can work and be managed by the solar team, but also future teams that we may want to apply this system to. This will include exploring, and understanding things such as;

  • What CRM will be best used to track many differing payments.
  • What security details do we need in order to operate effectively. This includes security details that are both legal requirements in the country of operation, and desired requirements.
  • What information we want from the customer in order to profile their risk effectively.

We have reached a point where we realise that the payment plans for solar are probably best managed by the solar team themselves, and not the Microfinance team. This is because the solar and Microfinance projects, although linked up to this point, have differing goals - and attempting to streamline these goals is logistically difficult as well as compromises project progression at times. The experiments carried out in July for Solar by the Microfinance team will allow the Microfinance team to essentially ‘hand over’ the payment plans and details about how to carry them out in an SOP or ‘product in a box’ format, meaning that the solar team will be able to carry out these payment plans with ease on their own terms.

The way this will be executed by the Microfinance teams in July is by what we are calling “Plug n’ Play” experiments. This is because ideally in the future they may be applied to other projects over multiple countries, who may want to implement a microfinance system such as this.

These experiments essentially allow the Microfinance team to build and test this ‘product in a box’ in order for them to successfully hand it over to the solar team to continue to execute and iterate.

Thus, it will be executed whereby we effectively offer, currency, and utility test to the “solar team” to find the best solution and system for the above points, enabling them to have payment and financing systems attached to their product. These experiments will warrant the teams visiting financial institutions, government officials, and other relevant parties in order to identify how this system can be set up effectively and autonomously, so that the solar team can operate this system on their own.

These experiments can be found here:

Offer Test: https://projecteverest.crowdicity.com/post/1804870

Currency Test: https://projecteverest.crowdicity.com/post/1804900

Feel free to leave any questions or comments.

 

Rose Martin 2 months ago

Status label added: Work Update

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