Digital Financial Services
- 1Which DFS have you been using since the last visit?
- 2How often have you been using DFS since the last visit?
- 3Money saved and loaned from DFS
- 4What would you like to learn about digital financial services since the last visit? (Broad code)
- 4.1First graph: percentage of answers given by all respondents
- 4.2Second graph: a closer look at 'How to use a specific DFS'
- 4.3Third graph: a close look at 'I'd like to learn about a specific DFS'
- 4.4Fourth graph and fifth: a look at the 4 most popular answers by group and gender
- 5What would you like to learn about digital financial services since the last visit? (Granular code)
- 5.1First graph: breakdown of the 'I'd like to learn about how to use a specific DFS' answers.
- 6What would you like to learn about digital financial services since the last visit? (Assorted answers)
- 6.1Examples of answers coded to 'How to use a specific DFS'
- 6.2Examples of answers coded to 'About all DFS (in general)'
- 6.3Examples of answers coded to 'More about loans'
- 6.4Examples of answers coded to 'How transactions work'
Which DFS have you been using since the last visit?
I intentionally left out the question 'Which digital financial services have you used' from the first interview, since this asks for all the DFS used, ever.
We can see a modest improvement in the use of the most popular DFS, with an especially noticeable increase in popularity of Okoa Jahazi and M-Shwari.
The smaller players are being mentioned by only 15% of the respondents or less. These DFS include banking apps, Paypal, Kopo Kopo, Mobile pention services, and more.
There are no big differences between groups and gender for this question. Below we plotted the use of the 3 most popular DFS per gender and group.
How often have you been using DFS since the last visit?
This promising graph shows that respondents say they use DFS 'Often' and 'Very Often' more and more each interview. 'Sometimes' and 'Rarely' are declining.
This becomes even more apparent when you look at the percentage of people who use DFS 'Sometimes', 'Often', or 'Very Often': this already started high at 82%, but climbed to 94% over the interviews (with a slightly higher percentage for the treatment group).
Money saved and loaned from DFS
Below we see a plot of the average balance respondents have on DFS (the average amount saved minus the average amount loaned). The different genders and groups are trading places, so there is nothing conclusive to say about this number, other than that it is most likely volatile.
What would you like to learn about digital financial services since the last visit? (Broad code)
This free-text question has been coded 2 times: first in a granular version, listing most things the respondents want to learn separately; and then in a broader fashion, with less categories. This section deals with the broad code, while the lighter section below goes into more detail.
First graph: percentage of answers given by all respondents
The first timeline looks at the percentages of each type of answer given to our question for all respondents. Apart from the respondents that say they don't want to learn anything, the most popular answer is how to use a specific DFS (for a more granular look into this answer, see the section below). These are concrete answers like 'I'd like to learn how to use Mshwari', or 'I'd like to use Mkopa'.
A rising answer over the course of the interviews is 'About all DFS (in general)'. These are answers along the lines of 'I just want to know more about DFS' and 'I'd like to learn various DFS applications on my smartphone'.
The percentage of 'I'd like to learn more about loans' questions are declining over the course of the interviews.
On the last interview, the share of 'Nothing' as an answer goes up, and the share of 'How to use a specific DFS' goes down.
We can also see an increase in 'DFS Safety' for interview 6.
Percentage of all answers to 'I'd like to learn about how to use a specific DFS' - Shown by all respondents
Second graph: a closer look at 'How to use a specific DFS'
The respondents in the groups and the two genders differ in the percentage of time they give the 'How to use a specific DFS' answer. In general, it seems like a volatile answer. For example, the treatment group starts out in the middle with 35%, spikes to 45%, and ends at 30% & 29%, while the Men go 42% - 36% - 30% - 24%.
Percentage of answer: 'I'd like to learn about how to use a specific DFS' - Shown by All Respondents, Group, and Gender
Third graph: a close look at 'I'd like to learn about a specific DFS'
The first timeline looks at the percentages of each type of answer given to our question for all respondents. Apart from the respondents that say they don't want to learn anything, the most popular answer is how to use a specific DFS (for a more granular look into this answer, see the section below). These are concrete answers like 'I'd like to learn how to use Mshwari', or 'I'd like to use Mkopa'.
A steadily rising answer over the course of the interviews is 'About all DFS (in general)'. These are answers along the lines of 'I just want to know more about DFS' and 'I'd like to learn various DFS applications on my smartphone'.
The percentage of 'I'd like to learn more about loans' questions is steadily declining over the course of the interviews.
Percentage of answer: 'I'd like to learn about how to use a specific DFS' - Shown by All Respondents, Group, and Gender
Fourth graph and fifth: a look at the 4 most popular answers by group and gender
When we look at the difference between the answers given between the groups and gender, we see it's a mixed bag, with the groups and genders trading places for the answers most given.
Percentage of answers: 'I'd like to learn about how to use a specific DFS', 'I'd like to learn about all DFS (in general)', 'I'd like to learn how transactions work', 'I'd like to learn about DFS safety' - Split by group (Treatment and Control)
Percentage of answers: 'I'd like to learn about how to use a specific DFS', 'I'd like to learn about all DFS (in general)', 'I'd like to learn how transactions work', 'I'd like to learn about DFS safety' - Split by gender
What would you like to learn about digital financial services since the last visit? (Granular code)
First graph: breakdown of the 'I'd like to learn about how to use a specific DFS' answers.
When we look at what DFS people actually want to learn more about, we see that Mshwari is mentioned the most. If you scroll all the way up this page to the first graph, you can see that Mpesa and Okoa Jahazi are more often used then Mshwari, which comes in third. Still, most respondents say they want to learn about this particular DFS. An interesting insight.
Count of specific answers about DFS to the question 'What would you like to learn about digital financial services since the last visit?'
What would you like to learn about digital financial services since the last visit? (Assorted answers)
Percentage of all answers to 'What would you like to learn about digital financial services since the last visit? ' - Shown by all respondents
Examples of answers coded to 'How to use a specific DFS'
"He would like to learn how to bet on sportpesa.
She would like tk learn about Mkopa
"I would like to know more about mshwari especially lock savings account.
She would like to learn more about all mshwari services.
About KCB Mtaani, he would like to know how it operates.
About Mshwari, she would like to learn more about how it operates and how much she is supposed to save for her to be able to access a loan.
She would like to learn more about mshwari and what is required for her to be legible for a loan.
He would also like to learn about how people use lotto."
Would like to know how to sign up for M-shwari
Like to learn about the other dfs like online banking
Kcb mpesa-wants to know how long to save before taking a loan
Would like more information on banks and mobile banking.
how to save using mobile ba king and how secure it ls
He would have liked to learn about Equitel but the guys never came back
He would like to learn about mkesho, mshwari, mkopa
Examples of answers coded to 'About all DFS (in general)'
She is ready to know anything new incase it is available
All apps that can be used in DFS
Anything new that is of help.
How to use digital ficial services properly.
Any new thing.
How to effectively operate different digital ficial services on my phone.
She would like to learn about DFS apps and how to use them
How to use different DFS networks effectively.
He would like to learn about some other DFS services he has never used before especially those linked to mpesa.
How to use different DFS networks in kenya.
Yes, just more information in general.
How to use different DFS services effectively.
Everything. He likes knowledge and learning new things
How to use different DFS networks effectively.
He would like to learn about other DFS that he has not known how to operate.
Anything new, other apps and services that she has not started using yet and add more knowledge to what she already has been using, like how to increase loan limit.
About the other DFS services that he is not curently using, he needs to know it’s importance
Examples of answers coded to 'More about loans'
How interest rates are being calculated on money borrowed from mshwari account.
Anything good and beneficial that can help him get a loan, he intends to start a business soon.
She would like to learn of any other services that can help him get a loan on her phone.
How to use different DFS networks to get loan.
About the various ways through which he can access loans.
Would like to know more about mobile banking
Anything that is available then she decides what can be important to her
How they determine loan interest and charges
How to calculate interest rate on money borrowed from DFS.
More about equitel, their terms and conditions for one to qualify for a loan
He would like to learn about mshwari, he would like to start saving on that service. He has however never been interested in asking for a loan.
How to calculate interest rate on money borrowed from digital ficial services.
About other applications by which he can access loans.
She would like to learn the qualifications for one to access a loan on mshwari
Mshwari and Apps that give people loans
How to calculate interest earned on money saved through digital ficial services
Examples of answers coded to 'How transactions work'
How to transfer money from mpesa to equitel
How transaction are done through dfs
How bank transactions are done from one person to the other
How transaction fee is calculated by service providers
How to avoid transactions that are not meant to be hers .revearsing wrong transactions
Would like to learn how to send money direct from his Bank account to another mobile number.
How mobile money operate with the bank ie how bank is connected with the bank account
How to transfer money from phone to kcb account.
How to perform different transactions using different digital ficial services.
He would like to learn how to do online payment for services like DSTV payment.Money transfer from mpesa to equitel(sim card) and vice versa.
How to reverse wrong transactions from his personal phone
I would like to know why the two different networks charge different rates while making transactions.
What they consider when coming up with charges or rates
She would like to know if there are any charges if she moves money fro mpesa/mshwari to kcb mpesa account.