9 February 2010

Designing financial services for the poor

Be the first to share

Money wallet
The Institute for Money, Technology and Financial Inclusion (IMTFI) at the University of California, Irvine, headed by Bill Maurer, Professor of Anthropology, aims to foster a community of inquiry and practice on new forms of money and financial technology among the world’s poorest people: those who live on less than $1 per day. IMTFI awards fellowships to researchers in the developing world to conduct 12-month projects, many with a strongly qualitative component.

“We seek to create a community of practice and inquiry into the everyday uses and meanings of money, as well as examining the technological infrastructures being developed as carriers of mainstream and alternative currencies worldwide.

Money costs money for people who are extremely poor and who have limited or no access to banks or credit. For many of the world’s poor, fees for financial services and transactions seriously limit their ability to use or share what little money they have. People have long taken whatever is ready-to-hand to serve the functions of money, from livestock to jewelry, and have used different relationships and objects to help them save, store, and transfer wealth. Today, new communications technologies are being added to this complex ecology of money. This ranges from sharing airtime minutes as an alternative currency, to using mobile phones and point-of-sale terminals for accessing banking institutions, or even as independent systems for saving, storing and transferring wealth.”

The 2010 Annual Report discusses IMTFI’s research in 2008-09 and presents 11 design principles on the creation and implementation of saving services for the poor.

Be the first to share
26 November 2015
How Nissan’s using anthropology to make autonomous cars safe
What happens when robot cars meet complex social interaction, like head nods, horn honks, or even road rage? Dr. Melissa Cefkin "is here to teach autonomous cars how to behave". A design anthropologist based at …
11 November 2015
Blackphone 2 review: privacy and great usability
Guardian writer Samuel Gibbs writes that the second edition of the Blackphone by security and privacy company Silent Circle is a step up in usability and is surprisingly easy to set up and use, even …
11 November 2015
Interview with Birgit Mager on the evolution of service design
Ayla Newhouse of Adaptive Path interviewed Birgit Mager, President and Co-Founder of the International Service Design Network, on how she got into service design back when it was so new, and how she defines it …
10 November 2015
Why service design is luxury’s new battleground
Ana Andjelic writes in AdAge that most legacy luxury brands are failing at delivering service, especially online: The fact that most legacy luxury brands fail to successfully create and deliver service is unfortunate. The business of …
10 November 2015
[Book] Nudge and the Law: A European Perspective
Nudge and the Law: A European Perspective First Edition Edited by: Alberto Alemanno, Anne-Lise Sibony Hart Publishing December 2015, 400 pages Abstract Behavioural sciences help refine our understanding of human decision-making. Their insights are immensely relevant for policy-making since …
3 November 2015
Another book entitled “The Quantified Self”
The Quantified Self By Gina Neff and Dawn Nafus MIT Press, 264 pp. April 2016 Oops, that is confusing: two books by sociologists on the quantified self movement, both entitled "The Quantified Self" and both appearing in April 2016. …
30 October 2015
[Book] Digital Ethnography
Digital Ethnography: Principles and Practice By Sarah Pink, Heather Horst, John Postill, Larissa Hjorth, Tania Lewis and Jo Tacchi (RMIT University) SAGE Publications October 2015, 216 pages Abstract This sharp, innovative book champions the rising significance of ethnographic research on …
29 October 2015
An ethnography of tax-avoidance experts
Sociologist Brooke Harrington realized that if she were ever going to understand global inequality she would have to become one of the people who helps create it. So she trained to become a wealth manager …

We are an international experience design consultancy helping companies and organisations to innovate their products, services and processes by putting people and their experiences first.

13 October 2015
Experientia report: Design for ageing gracefully

Design for Ageing Gracefully Rethinking Health and Wellness for the Elderly: Public Services Asian Insights & Design Innovation, DesignSingapore Council October 2015

29 September 2015
[Experientia book] Ethnography on elderly health and wellness

As we age, we increasingly depend on public services and the community for support. Well-designed public services can greatly affect the lives of the elderly and their experiences of healthcare. Experientia collaborated with DesignSingapore Council on understanding how the elderly interact with public services and how we can look towards improving their lives with design. […]

2 July 2015
Getting citizens involved in protecting fragile energy environments

A new project funded under the FP7 European Commission framework is getting citizens involved in testing new tools for reducing energy consumption during peak loads, in the hope that its pilot program will set the new state of the art for protecting locations with fragile electricity supplies. One of France’s most fragile regions The Provence-Alpes-Côte […]

5 May 2015
Experientia designer Dohun YuLuck Jang 유록 in Design 4 Disaster

Design 4 Disaster features an engaging illustrated safety manual for ship passengers, a personal project by Experientia designer Dohun YuLuck Jang 유록. After the Korean ferry accident last year, Yuluck (who is Korean) wanted to find a way to make safety manuals more interesting to read. He spent one year designing an interactive safety guide […]

16 March 2015
Better Health and Wellbeing: Giving the elderly in Singapore sparkling golden years

Invitation: sharing session, Singapore, 30 March 2015   What are the hopes and fears of the elderly in Singapore? How can designers offer solutions that support the elderly in managing their health and wellness? What can healthcare professionals do to help them keep active? What role can technology play in the elderly’s daily lives? Design consultants […]

1 January 2015
Happy Playful New Year
See all articles