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Adopted Experiment

[FEB 19] Problem/Customer Segment Experiment (Problem/Customer Segment) - Fiji SoCon

FEB 19 – Fiji SoCon I


Lean Phase: Problem/Customer Segment


Purpose: Empathise with banks to understand the issues they face offering financial products in Fiji.


By evaluating larger issues affecting the Microfinance space in Fiji, PEV will be able to infer likely common blocks that we will face when operating. This will also allow us to critique the inferred ‘barrier’s’ institutions face in order to assess this potential operating space for SoCon that is not currently targeted by banks due to the belief they face blocks/barriers.


Assumption:


FI’s have a strict and stringent set of requirements for customers to access a loan, due to underlying factors which can be depicted as blocks or barriers.



  1. Blocks - An element of the loan process required by every FI in order to approve a loan application. This element is needed in all FI's Standard Operating Procedure (SOP) but not necessarily enforced by law.




  2. Barriers - A problem faced by FI’s which is passable with different systems and procedures which can and will be explored by PEV to find a viable operating space.  



Time Box: 1-2 weeks.


Success Metric: % of FI’s that identify the same block or barrier with regards to each stage discovered and empathised with (Qualitative data depicting the characteristics that the FI’s require from customers for a loan).


Green Light: Continuation to BMC generation stage to ideate upon the barriers discovered when empathising with institutions to see if operation is viable for PEV. This will be followed by testing to research if there is potential to overcome the discovered blocks or barriers.


Success Point:


60% (3/5) of FI's faced the same problems or used a standardised procedure in delivering financial products (typically loans).


Orange Light:


Categorising the FI’s see if there are reasons as to why different FI’s have similar blocks/barriers, from here we can establish how such barriers can be mitigated.


Failure Point: 40% (2/5) of FI's faced the same problems or used a standardised procedure in delivering financial products (typically loans).


Red Light: Use the qualitative data to redesign the experiment and assumptions to determine the customer segments of FI’s.


 


Experiment Build:


https://docs.google.com/document/d/1UyaiNIATeeQe4r0wrg-0JBIbnrbz8U-9Rxph8wqqcTI/edit


Surveying a minimum of 6 FI’s.



  1. Create a survey to collect data about the qualities of the people banks loan to: link to the questions below: https://docs.google.com/forms/d/1OP0-2eEzn4QeFNaGZb6zxQpknYCsnUEZTzFsqfXSrm4/edit




  2. Write up questionnaire script to be utilised throughout the interview as a foundation and leading tool to direct the collection of data.




  3. Organise interviews with FI’s.




  4. Logistical research eg. transport and team splits.




  5. Conduct the surveys.




  6. Follow on interviews if needed, or setting up meetings with additional FI’s that were identified by the initial FI’s .




  7. Analyse the results of these surveys.




  8. Using the qualitative data, establish what blocks/barriers are preventing the access of loans to certain customer segments.




  9. Upload all results onto Crowdicity.



edited on 12th February 2019, 01:02 by Jamie Butler

Lucy Preiss 4 months ago

Status label added: Experiment adopted

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