Context
Migrants need to send money home regularly, but shocks often disrupt this. Our client, MFSA, a digital payment gateway sought
to improve the resilience of their remittance customers.
The Objective
Improve the resilience of remittance senders
Strengthen MFSA’s core business by increasing remittance transaction values and volumes
The Solution
- A hospital cash insurance product is embedded into remittance transactions
- This insurance is free of charge to customers making remittances
- Customers can double or triple their free cover by remitting higher amounts
The Results
- Average transaction value – 19.7% improvement
- The average number of new customers – 109% improvement
- The average number of transactions – 9.3% improvement
- The average lag time between transactions – 38.3% improvement
Client’s Perspective
“We continue to be inspired by inclusivity solution’s commitment to their mission of inclusive insurance. They understand the difficulties of the mission yet have stayed the course and have what it takes to travel it. And we know that, when the world finally gets to that promised land, Inclusivity Solutions will be counted as one of the teams that got us there.”
Founder and CEO of MFS Africa
Dare Okoudjou