Remote islanders who do not have bank accounts store money in holes in the ground, or in “milo cans”. When they need the funds, they bring them to the bank, but they may not get their value because the money is decomposed.

CHALLENGE: Provide financial services to remote island residents in Vanuatu
A regional development organization, the Asian Development Bank (ADB) wanted to know if agent-led branchless banking could help the island nation’s poor gain access to financial services. Then, ADB needed to help the National Bank of Vanuatu (NBV) plan how to implement the resultant strategy.
SEVAK SOLUTION: Bank-focused feasibility study, strategic design, and implementation planning
Sevak Solutions used its expert knowledge to identify highest value financial services and helped the partners select a scalable delivery model based on best practices, technology constraints, and the needs of local populations. Sevak Solutions then provided a phased implementation plan, based on best practices in Latin America, Asia, and Africa.
RESULTS:
  • In-depth 43-page report on partners’ goals, local populations, and existing payments infrastructure
  • Inputs that enabled ADB to develop a TOR and obtain internal funding for an agent-led branchless banking implementation, which is expected to begin in early 2008
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