Innolab

Cenfri's Innovation Lab (Innolab) is a two-way process. It seeks to connect Cenfri's broad base of research with private companies looking to innovate in the financial services space, with the ultimate goal of bringing new, profitable, and sustainable products to the bottom-of-the-pyramid market in developing countries. At the same time, Cenfri uses its engagements with the private sector to better inform its policy and regulatory interactions with government, while also sharing lessons learned more broadly with other parties in the financial inclusion space. The following diagram illustrates the Innolab approach:

 

Innolab diagram 

 

Identifying partners: Ideally, Cenfri's partners are companies that are willing to consider disruptive innovation through buy-in up front from decision makers within the company. Partners are also able to make significant impacts by reaching large segments of the low-income market through existing channels or new distribution strategies. Finally, while respecting the proprietary nature of private companies' work, Cenfri seeks partners that are willing to share some lessons learned more broadly so as to facilitate greater understanding and growth of the bottom-of-the-pyramid market. The following are some of Cenfri's partners to date: 

 

Innolab partners

 

Fostering innovation: Innolab will apply a range of tools to support partners in their development of key product innovations. These could include tools like financial diaries, data analytics and supply side research to inform partners where data previously did not exist; training, case studies, and guided immersion visits to stimulate partners' thinking around financial service provision; tools like product assessments, marketing, and technical assistance to shepherd partners for more managed innovation; and tools to connect partners to peers, partners, and key opportunities.

 

Producing results: Cenfri's previous InnoLab engagements have spanned the various areas of Cenfri's research work including microinsurance, health financing, and new technologies in distribution. Traveling over multiple continents on study visits, Cenfri has linked African financial service providers with counterparts in Latin America in order to share lessons and experiences. From the streets of Maputo to the villages of the Eastern Cape, Cenfri has engaged with end-users of financial services in order to better understand their needs and the ways in which they want to interact with financial service providers. Cenfri has both evaluated and helped design insurance and banking products, with a keen focus on building better services that provide a high value to clients.

 

 

Innolab

Cenfri's Innovation Lab (Innolab) is a two-way process. It seeks to connect Cenfri's broad base of research with private companies looking to innovate in the financial services space, with the ultimate goal of bringing new, profitable, and sustainable products to the bottom-of-the-pyramid market in developing countries. At the same time, Cenfri uses its engagements with the private sector to better inform its policy and regulatory interactions with government, while also sharing lessons learned more broadly with other parties in the financial inclusion space. The following diagram illustrates the Innolab approach:

 

Innolab diagram 

 

Identifying partners: Ideally, Cenfri's partners are companies that are willing to consider disruptive innovation through buy-in up front from decision makers within the company. Partners are also able to make significant impacts by reaching large segments of the low-income market through existing channels or new distribution strategies. Finally, while respecting the proprietary nature of private companies' work, Cenfri seeks partners that are willing to share some lessons learned more broadly so as to facilitate greater understanding and growth of the bottom-of-the-pyramid market. The following are some of Cenfri's partners to date: 

 

Innolab partners

 

Fostering innovation: Innolab will apply a range of tools to support partners in their development of key product innovations. These could include tools like financial diaries, data analytics and supply side research to inform partners where data previously did not exist; training, case studies, and guided immersion visits to stimulate partners' thinking around financial service provision; tools like product assessments, marketing, and technical assistance to shepherd partners for more managed innovation; and tools to connect partners to peers, partners, and key opportunities.

 

Producing results: Cenfri's previous InnoLab engagements have spanned the various areas of Cenfri's research work including microinsurance, health financing, and new technologies in distribution. Traveling over multiple continents on study visits, Cenfri has linked African financial service providers with counterparts in Latin America in order to share lessons and experiences. From the streets of Maputo to the villages of the Eastern Cape, Cenfri has engaged with end-users of financial services in order to better understand their needs and the ways in which they want to interact with financial service providers. Cenfri has both evaluated and helped design insurance and banking products, with a keen focus on building better services that provide a high value to clients.

 

 

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