Data Management and Analytics Capabilities Project – Call for Proposals for Financial Service Providers in Tanzania and Zambia
Financial Sector Deepening Africa (FSD Africa) and the International Development Research Centre (IDRC), in partnership with Financial Sector Deepening Trust – Tanzania (FSDT) and Financial Sector Deepening Trust – Zambia (FSDZ) is running the Data Management and Analytics Capabilities (DMAC) initiative that seeks to demonstrate to Financial Service Providers (FSPs) the benefits of using data to make evidence based decisions. The initiative will be implemented in three countries: Tanzania, Zambia and Sierra Leone.
Financial inclusion in sub- Saharan Africa has been improving in the past five years. The uptake of formal financial services in Tanzania, including banking and insurance products, reached 65% in 2017 compared to 57.7% in 2013. The uptake of formal financial services in Zambia, including banking, money transfer, microfinance and insurance increased from 23% in 2009 to 38% in 2015.
Despite the progress made towards financial inclusion in both Tanzania and Zambia, a large segment of the population remains financially excluded. This presents an opportunity for FSPs to increase their market share to these unserved market segments.
The advent of digital finance has created digital footprints that are a valuable source of data on customer preferences. Thus, providing an opportunity for FSPs to better understand the financial needs of the unserved and underserved market segments. In addition, big access survey data, such as FinScope, provides datasets on customer segmentation and preferences within the financial sector. The insights derived from the analysis of FSP internal data, research data and big data will lead to improved customer value propositions and enable FSPs to provide relevant financial services to financially excluded market segments.
FSD Africa, IDRC, FSDT and FSDZ are inviting proposals from FSPs seeking to implement projects that will enhance their capacity to use both internal and external data to make evidence based decisions. The use of data in this process should enable them to profitably provide relevant financial products to the unserved and underserved market segments. Initial concepts are sought from a range of FSPs – licensed banks, insurance providers (companies and distributors), financial technology (fintech) companies, mobile network operators (MNOs) and payments platform providers.
To apply, please fill in the application form included in the Call for Proposals documents below.