About MI4ID

Market Insights for Innovation and Design (MI4ID) is MicroSave's flagship socio-behavioural research and design approach. MI4ID is a new-age approach that incorporates principles of behavioural economics and human-centred design. MI4ID helps organisations design intuitive services for their customers. The holistic approach of MI4ID achieves user-centricity from both demand and supply side perspectives and thus produces high-impact results.

Built on three constituent pillars—“Uncover”, “Envision” and “Build”— MI4ID results in actionable insights and game-changing innovations in financial services design and delivery. It combines the strategic priorities of the organisation with creative design thinking, resulting in superior and robust market offerings.

We have built and refined MI4ID over two decades of intense engagement with financial service providers. It is the result of our in-depth understanding of the mysterious mental models that dictate their customers’ decisions and behaviour.

Download our MI4ID brochure here.

Unique Features

Ideal End State

In the project vision workshop, alongside our clients, we seek answers to our questions that help us nail this behaviour change. We drill down to exact behavioural change that our client envisages from our intervention.
Research Tools

We leverage our rich set of qualitative research tools and rigorous quantitative research methods to ensure that research design is best fitted to the objective. We interact with users at both the moment of decision and the moment of action.
Concept Distillation Workshop
This unique approach to new idea generation balances left and right brain bias in a design process that drives service providers to think out of the box. Our success in this approach is based on thorough understanding of service providers’ strategy while identifying practical solutions/concepts.
Progressive Recycling

Our extensive experience in financial services helps us design prototypes for financial services concepts and our design center helps us to rapidly iterate these concepts.

Projects

Insights-based innovations in product and service delivery for Jamii Bora – Kenya

Insights-based innovations in product and service delivery for Jamii Bora in Kenya

Developing financial capability programme for OK-Remit clients in Philippines

Developing financial capability programme for OK-Remit clients in the Philippines

Developing a user-friendly interface for oral segments to promote digital wallet adoption in India

Developing a user-friendly interface for oral segments to promote digital wallet adoption in India

Promoting the use of Mobile Financial Services amongst women in Bangladesh

Promoting the use of mobile financial services amongst women in Bangladesh

Refining and re-positioning micro-insurance products to enhance uptake in Kenya

Refining and re-positioning micro-insurance products to enhance uptake in Kenya

Enhancing smallholder farmer experience through customer-centricity in Mozambique

Enhancing smallholder farmer experience through customer-centricity in Mozambique

Resources

Publications

Designing Savings and Loan Products

Designing Savings and Loan Products

In “Portfolios of the Poor – How the World’s Poor Live on $2 a Day”, Collins et al. note that poor people face what they call the “triple whammy”: not only are ...

Qualitative Research Tools for Market Research: Experiences from MetaMon Research

Qualitative Research Tools for Market Research: Ex...

In the recently conducted research on money management metaphor, we have modified some existing market research (including design research and ethnographic) tools to decipher the intuitive and spo...

Musings on Money: The Household Money Management Model of Mass Market

Musings on Money: The Household Money Management M...

MicroSave, in collaboration with Ignacio Mas, recently conducted a large-scale two-country research study to understand the money management practices of the mass market. The...

Behavioural Insights in Insurance

Behavioural Insights in Insurance

It is a widely held belief amongst experts and industry players that, “Insurance is never bought, it is always sold”. Though, numerous research studies on insurance have focused on pre...

Behavioural Economics and User Centred Design – Opening up New Vistas in Research Processes

Behavioural Economics and User Centred Design – ...

To understand the customers better, it becomes imperative to not only understand their needs, decisions, or actions; but also understand the context in which they take decisions, various tendencies t...

Examining Micro Credit through the Behavioural Lens

Examining Micro Credit through the Behavioural Len...

Despite criticism over high interest rates, over-indebtedness and little to no impact on poverty alleviation, microcredit has reached impressive and continued growth worldwide. For long, behavioural ...

Examining Remittances Through A Behavioural Lens

Examining Remittances Through A Behavioural Lens

Migrant workers, are a unique client segment that interests financial service providers- specifically the digital financial service (DFS) providers. Though most of the DFS providers’ launch the...

How Saving Is Influenced by Behavioural Biases

How Saving Is Influenced by Behavioural Biases

Savings products and services have traditionally been designed assuming rationality and willingness of people to save and liquidate towards life-cycle goals. However, in real life, low-income mass ma...

Balancing Left-Right Bias in User-Centric Design Processes

Balancing Left-Right Bias in User-Centric Design P...

Success of any product ultimately depends upon whether clients prefer, choose and use it. Understanding clients’ life and mental models, therefore, is a prerequisite first element for product d...

Digital Wallet Adoption for the Oral Segment in India: Concept Development for MoWo (Mobile Wallet for Oral)

Digital Wallet Adoption for the Oral Segment in In...

A lot of financial inclusion efforts around the globe are targeted towards people who are new to technology and perhaps new to the formal financial system. Many of these people belong to Oral segm...

Understanding the Financial Behaviour of the Mass Market: The Key to Financial Inclusion

Understanding the Financial Behaviour of the Mass ...

This study is an extension of the work that MicroSave has been doing over the years on understanding how different types of people practice money management. It draws from industr...

Mobile Wallet Design for Oral Users

Mobile Wallet Design for Oral Users

The briefing note is to accentuate the need to incorporate usability aspect in the designs of various payment portals and user interfaces. There is a need to customize the screens of various i...

Why Do You Need Behavioural Design For Financial Services?

Why Do You Need Behavioural Design For Financial S...

We often observe individuals displaying what seems to be an irrational behaviour that impedes efforts in financial inclusion. Dig deeper and we see multiple cognitive forces that play a key role in t...

Blogs

“Clients Should Be At The Centre Of Your Business” – So What’s New?

“Clients Should Be At The Centre Of Your Busines...

“This may seem simple, but you need to give customers what they want, not what you think they want. And, if you do this, people will keep coming back.” – John llhan, Crazy John&r...

Understanding Complex Human Financial Behaviour: Alternative Approaches

Understanding Complex Human Financial Behaviour: A...

As we discussed in our earlier blog post, MetaMon project was an ambitious one. In the project we aspired to decipher the inherent thinking process that drives financial decision making of the poo...

Embracing A Market-led Approach To Developing Product Concepts

Embracing A Market-led Approach To Developing Prod...

According to the World Bank’s Global Financial Inclusion Database, more than 2.5 billion adults do not have an account at a financial institution. Among the many factors that are responsible...

The Ebb and Flow of Customer-Centricity in Financial Inclusion Part 1 – Why Being Customer-Centric is a Supply Side Strategy

The Ebb and Flow of Customer-Centricity in Financi...

In recent years Human Centred Design became a new focus area in the financial inclusion world.  It focused financial service providers on the design of products and services based on customer...

The Ebb and Flow of Customer-Centricity in Financial Inclusion Part 2 – Beyond the Basics

The Ebb and Flow of Customer-Centricity in Financi...

In the first part of this blog, we saw how just understanding customer demand is not enough to deliver mass financial inclusion … or even a successful product. Supply-side factors are key&h...

The Ebb and Flow of Customer-Centricity in Financial Inclusion Part 3 – What Happened and Where Are We Today?

The Ebb and Flow of Customer-Centricity in Financi...

In the previous blog “The Ebb and Flow of Customer-Centricity in Financial Inclusion Part 2 – Beyond the Basics” we discussed the details of building a customer-centric, or marke...

The Four Zones: A Missing Chapter in the Financial Inclusion Guidebook

The Four Zones: A Missing Chapter in the Financial...

As of March 24, 2017, a little more than 9 million dormant PMJDY accounts were frozen, because the account holders had not transacted in over a year. A great deal of effort has gone into ...

Lessons from Orality for Digital Financial Services Development

Lessons from Orality for Digital Financial Service...

At 6:30 a.m.,in a busy wholesale vegetable market on the outskirts of Varanasi, Shanti Devi is haggling with the wholesale vendor of cauliflower. The price is negotiated at ₹300 a sack. Shanti t...

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