Monetary Practices of Traditional Rural Communities in Ethiopia: Implications for New Financial Technology Design

Woldmariam, Mesfin F.; Ghinea, Gheorghiţă; Atnafu, Solomon; Groenli, Tor-Morten

doi:10.1080/07370024.2016.1139461

Cited by 11 publications

(4 citation statements)

References 40 publications

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“…The author revealed that Fintech mainly contributes to the effectiveness of the payment system. Similarly, Woldmariam et al (2016) explored the design of Fintech in Ethiopia. In this framework, they evaluated mobile money applications.…”

Section: Literature On Fintechmentioning

confidence: 99%

Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach

et al. 2021

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Financial technology (Fintech) makes a significant contribution to the financial system by reducing costs, providing higher quality services and increasing customer satisfaction. Hence, new studies play an essential role to improve Fintech investments. This study evaluates Fintech-based investments of European banking services with an application of an original methodology that considers interval type-2 (IT2) fuzzy decision-making trial and evaluation laboratory and IT2 fuzzy TOPSIS models. Empirical findings are controlled for consistency by applying the VIKOR method. Moreover, we conduct a sensitivity analysis by considering six distinct cases. This study contributes to the existing literature by identifying the most important Fintech-based investment alternatives to improve the financial performance of European banks. Our empirical findings illustrate that results are coherent, reliable, and identify “competitive advantage” as the most important factor among Fintech-based determinants. Moreover, “payment and money transferring systems” are the most important Fintech-based investment alternatives. It is recommended that, among Fintech-based investments, European banks should mainly focus on payment and money transferring alternatives to attract the attention of customers and satisfy their expectations. This is also believed to have a positive impact on the ease of bank’ receivable collection. Another important point is that Fintech-based investments in money transferring systems could help to decrease costs.

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Section: Literature On Fintechmentioning

confidence: 99%

Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach

et al. 2021

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“…Efforts to address this challenge are gathering momentum. In a 2016 paper based on empirical field research with illiterate populations, Woldmariam and colleagues proposed a cash-based interface, with audio support, for mobile money in Ethiopia (Woldmariam et al 2016). They noted that national governments may appreciate seeing national identities represented through cash images in digital money.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Developing OIM designs requires a champion, typically either a product or marketing manager, or an external consultant. There are a few resources available to help with process (CGAP 2016;Matthews 2016;Woldmariam et al 2016), and a step-by-step manual is under development at My Oral Village.…”

Section: Digital Financial Services (Dfs) Suppliersmentioning

confidence: 99%

Hidden constraints to digital financial inclusion: the oral-literate divide

Matthews¹

2019

Development in Practice

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The vision that digital finance can achieve universal financial inclusion is premised on the rarely questioned assumption that the world is rapidly moving towards universal literacy and numeracy. In fact, text and arithmetic notation shape the relationship between formal finance and about a billion of the world's poorest adults. This "oral" population, stranded outside the reach of formal employment, have neither the capabilities nor the incentives to engage in digital finance as it is currently being offered. Empirical observation of the actual capabilities and incentives of oral adults can offer transformative solutions for mobile wallet providers, NGO projects, designers and governments.

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“…They report that the potential is high in India to adopt these new payment mechanisms if they are literate. Mesfin et al, [49] on features of mobile money applications for rural Ethiopia suggest that designers should focus more on social, cultural and religious practices as well as on embedded social meanings when introducing technology interventions. Halloluwa et al, [19] have explored the values associated with the financial affairs of rural Sri Lankans using participatory design workshops.…”

Section: Financial Matters In Hcimentioning

confidence: 99%

Dhana Labha: A Financial Management Application to Underbanked Communities in Rural Sri Lanka

Halloluwa

Vyas

2019

Human-Computer Interaction – INTERACT 2019

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This paper presents findings from field trial of a mobile application called 'Dhana Labha' in a rural Sri Lankan community. Dhana Labha was designed to be used by the community members to manage their personal finances, oversee their performance in managing multiple microfinance loans and assist in loan collection. We distributed the application among thirty eight microfinance clients and studied their use over a period of six months. Our findings show that the use of Dhana Labha had a positive impact on existing local practices and financial awareness while prompting the participants to develop unexpected new practices around microfinance workflows. Our findings highlight the importance of understanding existing sociocultural practices for designing applications, as they strongly affect and shape the use of technology in a constrained setting.

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Monetary Practices of Traditional Rural Communities in Ethiopia: Implications for New Financial Technology Design

Cited by 11 publications

References 40 publications

Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach

Fintech investments in European banks: a hybrid IT2 fuzzy multidimensional decision-making approach

Hidden constraints to digital financial inclusion: the oral-literate divide

Dhana Labha: A Financial Management Application to Underbanked Communities in Rural Sri Lanka

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