DiFi Indonesia Vol. 2: Onboarding Approach
Welcome to the second volume of the DiFi Indonesia article series by Somia CX as part of the DiFi (Digital Finance) for All project commissioned by the Bill & Melinda Gates Foundation.
In the previous article, we delved into the pre-onboarding journey of unbanked and underbanked individuals as they navigate the adoption of digital financial services (DFS), covering aspects such as awareness, perceptions, and their decision-making process. This article explores the different approaches found on the ground that facilitate individuals’ onboarding process.
The Onboarding Approach theme discusses strategies for building trust and designing suitable ways to bridge the Unbanked & Underbanked to onboard to Digital Financial Services.
From our previous article, we learned that the unbanked and underbanked face challenges like unfamiliarity and various fears in the process of DFS onboarding. Consequently, establishing trust becomes imperative. Given the prevalent self-onboarding approach in Indonesia, there’s a need for an intermediary solution to establish a support system for the unbanked and underbanked. A community approach emerges as one potential method for creating a support system that closely aligns with their context.
The following insights unpack what is happening on the ground further.
Click here to download the PDF file of the slides or watch the sharing session recording here (in Bahasa Indonesia).
During the session, we discussed the importance of collaboration between government entities and service providers in educating and building trust within the unbanked and underbanked segments. Fostering this collaboration would yield considerable benefits. These stakeholders play a crucial role in ensuring that the information received, particularly online, is accurate and trustworthy, as they are regarded as trusted sources by the unbanked and underbanked.
In the field, service provider officers emerge as key human touch points to educate this demographic. We learned that the setup of the right Key Performance Indicators (KPIs) plays a pivotal role. Expanding KPIs beyond account creation metrics to include measurement of active usage is essential for enhancing confidence and savviness.
There are many more nuances around this topic and we are sure you have more to share too, please feel free to share them in the comments below. Don’t hesitate to reach out if you would like to continue the conversation. We’ll be happy to schedule a call to share and discuss further. Email us at info@somiacx.com.
Find more DiFi Indonesia article series from the Somia team here
DiFi Indonesia Vol.1: Digital Financial Discovery
DiFi Indonesia Vol.3: Product Focus (Onboarding Steps)
Transect Walk for Research: What is It and How Did We Use It
