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Digital Financial Services in Nepal - Briefing Note 1: Developing a Digital Financial Services Strategy in Nepal (February 2015)
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Abstract:  
Nepal is a landlocked country with picturesque, mountainous terrain. The geographical diversity makes it a challenging place for digital financial services (DFS) deployments, mainly because of low population density, poor connectivity and infrastructure-related challenges. While it is a young, growing nation, the vast majority of the population remains financially excluded. DFS can play a key role in changing this landscape and offering adapted and affordable services to economically poor Nepalese people.
To pave the way for the spread of DFS, Nepal Rastra Bank released electronic banking guidelines in 2012. The guidelines were prescriptive and focused on developing an agent network in rural areas only. At present, there are 12 active deploments by banks/ financial institutions (FIs) with more than 1000 registered agents; however, none have been able to achieve significant scale nor exhibit precursors to large scale success.
To support further development of services and enable market players to reach scale, Mobile Money for the Poor (MM4P) organized a workshop exploring DFS entry strategies and has been interacting with the players through various studies conducted over the past several month.
Entry strategies proposed for DFS in Nepal are discussed in this briefing note, including the strategies’related factors and customer segments. Key factors include expansion strategy, anchor products, distribution channel and interoperability and vary based on socio economic conditions, DFS regulations and the current state of deployments.
Publisher:
UNCDF ,   (2015)
Type / Script:
Bulletin or Poster in English
Keywords:
FINANCE, FINANCIAL SERVICES, FINANCIAL ASPECTS, BANKS, BANKING, AGENT BANKING, CREDIT, FINANCIAL INSTITUTIONS, COOPERATIVES, INVESTMENTS, BUSINESS, STAKEHOLDERS
Thematic Group:
 UNCDF : Capital Development
Thesaurus:
02.11.00  -  Banking And Investment
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