We are discussing the M-Pesa Power: Leveraging Service Innovation in Emerging Economies? You probably have heard of it. It is the mobile banking revolution that is changing the way people manage money.

M-Pesa is a popular mobile banking application with more than a million users. It is simple to use and convenient. With M-Pesa, you can transfer money to anyone, anywhere in the world, at any time of day or night. You can also make payments using the mobile phone.

M-Pesa was developed in Kenya by the Safaricom Group. It has been credited with creating a new market for people’s accounts. Many people who had never heard of a bank before have started using one. They trust the system because they do not have to fear their money getting stolen or lost, as they do with the typical bank.

The banking system in Kenya did not always have problems. However, after the economic recession took hold of the country, there was a collapse in services provided by the traditional banks. The government stepped in and rescued these banks, but only through additional fees and charges.

A Case Study Solution from the Harvard Business Review explains how M-Pesa has helped hundreds of thousands of Kenyans get back on their feet. This case study was conducted in six different regions in Kenya. In each region, it was expected that the number of users would decline as banks had shut down branches, though the industry was still profitable. As the number of users decreased, the number of actual bank accounts went up, causing a chain reaction.

The Case Study Solution concludes that people are able to recover their lost money after returning to the bank. The study determined that a typical user spends no more than 5 minutes per month with a traditional bank. The average Kenyan makes a payment every hour. As soon as the payment is made, the account is credited immediately. Using the mobile technology, clients have the option of paying every day, every week, or every month.

The M-Pesa power is helping to change the face of banking in Africa. It is creating opportunities for low-income individuals to build a secure, comfortable financial life. These individuals are growing their savings and investing in businesses that can become successful, eventually expanding their network of clients.

We believe that this case study solution is applicable to banks anywhere in the world. For banks in the U.S., where we live, it is a great opportunity to discuss innovative services and how the public would respond to them. While M-Pesa is a great example of the power of service innovation, there are many other service examples that could be examined.

There are many smaller, successful, service innovations that have taken place all over the world that can be used as case studies to help banks solve problems, whether they are regional or global. Service innovation can take on many forms, but they all work towards solving one common problem: service design.

The first step is to design a product that can be understood by the public, and is easy to use. The goal is for the service to become second nature to customers. At the same time, the design must be adaptable enough to change with the changing needs of the public.

The result is a customer experience that is just right, providing the necessary service to meet the needs of the public, but at a price that is affordable to them. The service must be available in all languages and services. In short, the service must be designed for the next generation.