MicroSave Briefing Note # 65 Costs and Benefits of Pilot Testing for Product Development

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In particular, the study of Competition 1 by Cheryl Frankiewicz is based on the concrete experience of the four research partners and their members MFI. MicroSave,

Central and Eastern Europe and Newly Independent Countries (MFC), Microfinance Advisory Group (MCG) and Women's Microfinance Center

All of the World Bank (WWB) has played a leading role in the development of new products and new services. Complete document is available

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· Understand internal functions such as system and program efficiency better

· · · Because the experimental scale of products is limited, there are few errors and low cost

The pilot test is a tool for managing change. Employees will be trained in the process while recording the course.

• Products will be released faster, smoother and less expensive. Microfinance institutions can predict and plan more accurately

• Ensure that the products released are attractive to customers and ensure first delivery.

Equity Bank has strongly supported market-driven approaches that use pilot tests as the core steps of development

Successful financial instruments Exponential growth from 2003 to 2004 and the transition from construction society to bank were challenges

Management is looking for ways to pay sufficient attention to all changes that have occurred. Possibility of 100,000 customers

During that year, the bank decided to launch a direct wage based loan product without testing. During ~

This product has a great demand. As it is easy to manage with low sales, banks have expanded to portfolio

It was 9.55 million dollars in 9 months. Then the trouble began. Staff time required to complete employer evaluation

Management of daily employer relations is underrated. Immediately, equity employees will manage a portfolio of 5,000 customers.

After the transition, it took more than 3 months for the bank to enter the central payment system and the grace period was not set.

Please enter the design of the product so that overdue for several months will soon accumulate so that the customer's loan payment has expired and the salary has not expired

It is recorded. PAR - 30 days increased (from 7% to 18% in 3 months), internal and external fraud cases occurred. Equality is very fast

Product review and redesign, identification and mitigation of risk, purchase and installation of powerful MIS system, and release

Main collection works. By November 2005, they reported a 90% recovery. Thus, Mwangi proposed, "If you want to manage.

In the main development of product testing, Holley Group China (seed investor) and Everex are committed to pilot testing our product suite. Pilots are important because pilots will focus on intercompany payments to corporate groups and providing B2B payments. If Holley Group's pilot succeeds, Everex will have the opportunity to work with Holley Group's suppliers, merchants, and customers' complete network. Regarding the functions of the new product, Everex's backbone product Ethplor implements other functions in parallel with establishing the pilot test. In the new update, index and list of top 50 Ethereum tokens, including activities and categories etc. were added.

The test method for developing and testing new products represents a high risk, a high cost, and gradual emergence of learning outcomes. This approach is quite different from the service and product innovation that occurs through the so-called "lean approach" commonly used in the private sector. It involves suggesting ideas on how to solve the problem - hypothesis. The next step is to develop a prototype with a minimum feasible way to verify this hypothesis, a test method that measures results in a reliable way. Waste-free work methods are based on emergency learning of data feedback from tests and subsequent adjustment of test prototypes. Testing is iterated until a truly effective solution is found. If it turns out that it does not work after several iterations, the prototype will be destroyed.