Es hora de afrontar el reto del (micro)ahorro Ignacio Mas Mexico DF, 23 de abril de 2009

Todos necesitan opciones para ahorrar 1.600 millones de personas en edad laboral viven con <$2/día Principales motivos para el ahorro Repartir consumo contra ingresos estacionales Pequeño campesino 610m Estabilizar consumo dado ingresos impredecibles Trabajador eventual 370m Acumulación contra un objetivo Segmentación según ocupación principal Microfinance has predominantly targeted credit for “microentrepreneurs.”2 The insights gleaned from microfinance about the poor and their money must now be used to generate new models that expand the suite of services available. Moreover, it took 30 years to accomplish this feat in microcredit as business models are largely human resource dependent, and therefore costly and difficult to scale. 2 Note: We recognize that microfinance organizations reach many others outside of this target population and above $2 / day, particularly small holder farmers in Asia, and that, while we have segmented the poor by their primary livelihood, most have diverse income sources. 300m Financiar capital de trabajo Asalariado Micro-emprendedor 180m 100m Desempleado 80m Pescador/pastor Fuente: Oliver Wyman © 2008 Bill & Melinda Gates Foundation | 2

1. Traer al banco más cerca de la gente Requisitos 1. Traer al banco más cerca de la gente © 2008 Bill & Melinda Gates Foundation | 3

1. Traer al banco más cerca de la gente Requisitos 1. Traer al banco más cerca de la gente © 2008 Bill & Melinda Gates Foundation | 4

1. Traer al banco más cerca de la gente Requisitos 1. Traer al banco más cerca de la gente ~3000m ~25m ~1m 600k 500k 350k Western Sucursales Oficinas Cajeros automáticos PdV Móviles Union bancarias de correos © 2008 Bill & Melinda Gates Foundation | 5

2. Modelo de negocios transaccional Requisitos 2. Modelo de negocios transaccional Pagos sociales Salarios Pago facturas Remesas Ahorro Recargas móviles Compras y ventas Repago de préstamos We envision a world in which these opportunities are harnessed to enable poor families to access the portfolio of financial products they need most, in sizes they can afford, in places they can get to easily, and on a commercially viable basis. Improved financial services will increase the wealth and assets of the poor so they can spend more on health, education, consumption, and other investments for their future. © 2008 Bill & Melinda Gates Foundation | 6

3. Buscar aliados en una nueva cadena de valor Requisitos 3. Buscar aliados en una nueva cadena de valor Contacto con cliente Captura electrónica de transacciones Agregación de transacciones Manejo de cuentas Custodia de fondos Tiendas minoristas Operadores móviles Instituciones financieras Densidad de puntos de atención al cliente Transporte y manejo de efectivo Canal minorista extenso Base de clientes por bancarizar Extensa red de tele- comunicaciones, con seguridad sobre SIM Uso de plataformas de prepago de alta transaccionalidad Regulación y supervisión Sistemas de detección de fraude y de manejo de excepciones Gama de servicios financieros Manage GRANULARITY Reduce customer access costs (travel, waiting time) by placing outlets closer to people. De-risk: Use cell phones to reduce set-up cost per outlet. Make ongoing costs variable by paying agent commissions per transaction. Drive minimum agent profitability in the face of small local customer bases by meeting the broader payments needs of the community. Manage NETWORK SCALE EFFECTS Supply side: Exploit large fixed/low variable cost structure by driving volume. Volume reduces unit cost per transaction. Demand side: The value for an individual of being part of the network increases as the number of network end-points increases. Number of users drives customer’s willingness to pay per transaction. Manage COMPLEXITY There is constant tension between the need to maximize: Economies of scale: exploiting fixed-cost nature of software platforms Economies of scope: offering multiple & evolving products to maximize customer relevance & value Simple cost allocation rules can make lower value customers appear unprofitable. Exception handling is costly. © 2008 Bill & Melinda Gates Foundation | 7

4. Márketing: ‘push’ y ‘pull’ Requisitos 4. Márketing: ‘push’ y ‘pull’ Segmentos Productos Canales Buscar los clientes más propicios a adoptar nuevos servicios: De edad mayor Varones No tan pobres Emprendedores ‘Seguir el flujo de dinero’ Basado en objetivos de los clientes Liquidez contra disciplina Tarifas para micro- transacciones Recompensas (loterías, minutos de prepago) Dosglosar las funciones de una sucursal bancaria: Registro Conoce al cliente Manejo de efectivo Venta de productos Manage GRANULARITY Reduce customer access costs (travel, waiting time) by placing outlets closer to people. De-risk: Use cell phones to reduce set-up cost per outlet. Make ongoing costs variable by paying agent commissions per transaction. Drive minimum agent profitability in the face of small local customer bases by meeting the broader payments needs of the community. Manage NETWORK SCALE EFFECTS Supply side: Exploit large fixed/low variable cost structure by driving volume. Volume reduces unit cost per transaction. Demand side: The value for an individual of being part of the network increases as the number of network end-points increases. Number of users drives customer’s willingness to pay per transaction. Manage COMPLEXITY There is constant tension between the need to maximize: Economies of scale: exploiting fixed-cost nature of software platforms Economies of scope: offering multiple & evolving products to maximize customer relevance & value Simple cost allocation rules can make lower value customers appear unprofitable. Exception handling is costly. © 2008 Bill & Melinda Gates Foundation | 8

5. Adecuar la regulación a los riesgos Requisitos 5. Adecuar la regulación a los riesgos Corresponsales bancarios ‘Conoce al cliente’ Tercerización de servicios bancarios Red de apoyo para reguladores y funcionarios públicos Bolsa de subvenciones para visitas e intercambios Bolsa para financiar estudios de factibilidad o implementación en áreas definidas Manage GRANULARITY Reduce customer access costs (travel, waiting time) by placing outlets closer to people. De-risk: Use cell phones to reduce set-up cost per outlet. Make ongoing costs variable by paying agent commissions per transaction. Drive minimum agent profitability in the face of small local customer bases by meeting the broader payments needs of the community. Manage NETWORK SCALE EFFECTS Supply side: Exploit large fixed/low variable cost structure by driving volume. Volume reduces unit cost per transaction. Demand side: The value for an individual of being part of the network increases as the number of network end-points increases. Number of users drives customer’s willingness to pay per transaction. Manage COMPLEXITY There is constant tension between the need to maximize: Economies of scale: exploiting fixed-cost nature of software platforms Economies of scope: offering multiple & evolving products to maximize customer relevance & value Simple cost allocation rules can make lower value customers appear unprofitable. Exception handling is costly. Lanzamiento el 23 de abril de 2009 Presupuesto: $35 millones en 4 años © 2008 Bill & Melinda Gates Foundation | 9

Hay un interés creciente en redes de agentes Experiencia internacional Hay un interés creciente en redes de agentes Mini-sucursales Redes de agentes basadas en terminales PdV Redes de agentes basadas en móviles © 2008 Bill & Melinda Gates Foundation | 10

El espectacular éxito de M-PESA en Kenya Experiencia internacional El espectacular éxito de M-PESA en Kenya Monedero electrónico accesible por teléfono móvil 6 millones de clientes en 2 años (contra 5 millones de cuentas bancarias en el país) 8.000 tiendas (agentes) ofrecen transacciones contra efectivo y registran a los clientes ~100 transacciones por agente (tienda) por mes 60% de transacciones con un valor de < $25 $220 millones en envíos por mes $2.600 millones enviados desde el inicio © 2008 Bill & Melinda Gates Foundation | 11

Nuestra visión de bancarización Pagos remotos allí mismo Opciones seguras de ahorro Activación económica Seguridad económica Gente con mayor capacidad de planificación y menores costos de transacción (en $, tiempo, seguridad) Microempresas con opciones de autofinanciamiento y acceso a mercados Familias con mayor control sobre sus recursos y con capacidad para afrontar ‘shocks’ Redes de protección social eficientes, con llegada a todos Microfinance has predominantly targeted credit for “microentrepreneurs.”2 The insights gleaned from microfinance about the poor and their money must now be used to generate new models that expand the suite of services available. Moreover, it took 30 years to accomplish this feat in microcredit as business models are largely human resource dependent, and therefore costly and difficult to scale. 2 Note: We recognize that microfinance organizations reach many others outside of this target population and above $2 / day, particularly small holder farmers in Asia, and that, while we have segmented the poor by their primary livelihood, most have diverse income sources. © 2008 Bill & Melinda Gates Foundation | 12