Agency:

The Women’s Micro Bank Limited (WMBL) is the first women’s Micro Bank in PNG and the Pacific region and ranked 5^th deposit taking licensed Micro Bank in PNG. The Bank is also 6^th Women deposit taking Bank in the world and also as one of the best 50 companies for women among APEC countries. Currently it has a clientele of more than 30,000 with 7 access points and expanding throughout PNG and is the only financial institution with an explicit focus on women in PNG.

Context:

The bank plans to launch a group-based loans and savings product for its women clients using digital technologies.

Objective:

To build need based financial products for women

Intervention:

We conducted market research, and developed a group-based savings and loan product for women. The product was piloted the project across two branches of WMBL. Also, undertook a technology readiness assessment of the bank for its future digital banking plan including its participation in the country’s payment systems and advising the way forward for new technology set-up.

Outcome:

The product was piloted across two branches of WMBL. Based on the lessons learned, the bank plans to scale it up.