Enhancing Financial Innovation & Access (EFInA) held an event to launch the Innovation Grant Request for Proposals (RFP) round 5. RFP round 5 is focused on developing incentives to increase the usage and uptake of mobile money among low income customers, and/or incentives for agents. At the event, EFInA’s CEO Modupe Ladipo shared findings from EFInA’s research that illustrate opportunities for mobile money operators, and shared best practices for increasing mobile money uptake. Patrice Martin, Co-lead and Creative Director of IDEO.org, shared ten insights about human behaviour that have contributed to developing more innovative mobile money platforms.
EFInA launched its Innovation Fund in 2009 to promote the development of innovative financial products and services targeting the unbanked and under-banked low income segment. The Innovation Fund supports new approaches to expanding financial access in Nigeria. As innovation involves taking risks, EFInA shares the risk of developing and implementing innovative products by providing grant subsidies for commercial and policy related initiatives.
Please see the Innovation Grants Request for Proposals Page for more information, including eligibility requirements and instructions for applying for an Innovation Grant.