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Adopted Experiment

[Experiment Adopted]: Village Banks (4/4) - Channel Preference

Lean Phase: Channel Testing 


Assumptions: customers served by the village bank lack access to formal credit, or prefer to access credit through village-based credit systems). Reasons may include the fact that:
1. Distance to a formal institution is too far, or costs too much to visit frequently
2. People were rejected in their application for a loan, and thus excluded from formal credit


Time Period: 1 week (or time taken to survey 6-8 village banks) 


Success Metrics:
1. % of people who prefer obtaining loans from village banks as opposed to formal credit institutions
[ideally, sample size of 10+ per village bank; otherwise, based on anecdotal evidence from village chief] 


Criteria:
Success Point: if more than 50% of customers prefer accessing credit via village banks than other alternatives (including, but not limited to, formal credit institutions)
             Green Light: proceed to Loan Structure experiment
Orange Light Point: if 20-50% of customers prefer accessing credit via village banks than other alternatives (including, but not limited to, formal credit institutions)
             Orange Light: Why do they prefer a formal credit institution? Is it a) more trustworthy, b) can approve higher loan amounts, or c) other?
Failure Point: if less than 20% of customers prefer accessing credit via village banks than other alternatives (including, but not limited to, formal credit institutions)
            Red Light: look at other ways in which we can service the needs of these customers - learning from why they prefer other channels.


Experiment Build:
1. Create a survey based on the above metrics
2. Identify village banks to validate assumptions with
3. Organise village visits
4. Execute survey
5. Measure results and post experiment results

edited on 28th January 2019, 10:01 by Ella Grier

Kurt Michl 7 months ago

Hey will, really clear layout of the 4 step process. I'm sure its implicit but in the design I would imagine you would want to "Identify village banks to validate assumptions with" and use this same sample of village banks for the 4 steps of the process.

just thought it should;d be explicitly said :)

Reply 0

William Lee 7 months ago

Hey Kurt, exactly. These experiments are split out into four different assumptions, but can be tested simultaneously.

Reply 0

Ella Grier 4 months ago

Status labels added: Experiment adopted, Complete

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