ANNEX B FY14-FY18 CONSOLIDATED CGAP V RESULTS FRAMEWORK Table of Contents . Customers at the Center .................................. 2 Graduating the Poor ...................................... 3 Financial Innovation for Smallholder Families ............... 4 Inclusive Payment Ecosystems ............................. 5 Digital Finance Frontiers .................................. 7 Global Policy Architecture ................................ 8 Protecting Consumers ................................... 9 Funder Guidance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Endnotes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 Annex B | Consolidated CGAP V Results Framework 2 Customers at the Center Initiative Results Framework Interim Endline Endline Interim actual Comments on target actual Comments on target June interim actual June June actual against Outcomes Indicator number and title Baseline June FY16 FY16 against target FY18 FY18 target Five-year Outcome 1.0 1.0.1 Use of “Customer- 0 5 6 Exceeded 10 10 Achieved Centric Guide” by key Increased adoption of financial service providers Pioneer, AMK, Pioneer, customer-centric approaches Janalakshmi, Orange, Barclays, for financial products/services Zoona, AMK, Janalakshmi, Zoona, design and delivery by FSPs Equity Bank, Equity, BTPN, Wave Eko Money, Eko Supporting Outcome 1.1 1.1.1 # of key influencers 10 20 20 Achieved 40 40 Achieved participating in the # of key influence firms production of the See Box 2. (working with FSPs) validate “Customer-Centric Guide” in the use of customer centricity the Customers at the Center approaches for financial WorkSpace product/service design and delivery Supporting Outcome 1.2 1.2.1 # of reference firms 0 3 3 Achieved 6 6 Achieved that are implementing the Key reference firms (financial “Customer-Centric Guide.” Pioneer, AMK, Pioneer, service providers) use Janalakshmi, Orange, Barclays, customer-centric approaches Zoona Janalakshmi, Zoona for financial product/service design and delivery Annex B | Consolidated CGAP V Results Framework 3 Graduating the Poor Initiative Results Framework FY17 FY17 Comments on actual against Outcomes Indicator number and title Baseline target actual target Five-year Outcome 2.0 2.0.1 # of reference countries or major donors 2 5 111 Growing global adaptations of implementing well-documented Graduation Graduation Reference countries or major donors scale-ups are implementing well-documented Graduation scale-ups Supporting Outcome 2.1 2.1.1 # reference countries and major donors 0 75% 100% All new programs actively applying research findings in development of engage within CoP Reference countries or major donors Graduation scale-ups apply CGAP-facilitated research findings, technical guidance, and capacity support in developing and/ 2.1.2 # reference countries/major donors applying 0 70% 80% All new programs have in- or implementing well-documented technical guidance and capacity support in house and/or hire quality TA Graduation scale-ups development of Graduation scale-ups on Graduation Supporting Outcome 2.2 2.2.1 # of active participants in the CoP sharing 12 30 500 Strong momentum builds knowledge and innovations in the field of extreme on robust impact evidence, Active participants in the Community poverty reduction examples of successful of Practice (CoP) share knowledge and programs, and tailwind from innovations in the field of extreme the SDGs poverty reduction, including policy makers taking concrete steps toward Graduation scale ups as a result of 2.2.2 # of policy makers who take concrete 0 12 14 Several policy makers/donors participating in a working group formed steps toward Graduation scale-ups as a result of from each reference country/ within the CoP participating in a working group formed within the donor participate in regular CoP CoP calls Annex B | Consolidated CGAP V Results Framework 4 Financial Innovation for Smallholder Families Initiative Results Framework Interim Endline Endline Comments Interim actual Comments on target actual on actual target June interim actual June June against Outcomes Indicator number and title Baseline June FY16 FY16 against target FY18 FY18 target Five-year Outcome 3.0 3.0.1 # of new financial 0 n/a n/a n/a 5 9 Exceeded: products and service-provider Based on New Financial Products and practices aimed at better independent Service-Provider Practices that serving smallholder families evaluation. Effectively Meet the Needs of launched by financial service Smallholder Families providers 3.0.2 # of CGAP-supported n/a n/a n/a n/a 4 5 Exceeded: financial service providers providers providers Based on substantially increasing their with with 30% independent number of smallholder clients a 30% increase evaluation. increase 3.0.3 # of smallholder clients n/a n/a n/a n/a 60% 95% Exceeded: (of CGAP-supported financial Based on service providers) who perceive independent that new products or practices evaluation. effectively meet their financial needs Supporting Outcome 3.1 3.1.1 # of stakeholders n/a 15 28 Exceeded n/a n/a n/a Key stakeholders have a more who have a more holistic holistic understanding of the understanding of the financial financial services needs of services needs of smallholder smallholder families families Supporting Outcome 3.2 3.2.1 # of CGAP-supported n/a 3 3 Achieved n/a n/a n/a Financial service providers have financial service providers with an enhanced understanding of enhanced understanding of how to design and launch financial smallholder product design and products (particularly technology- launch enabled products) which more effectively meet the needs of smallholder families Annex B | Consolidated CGAP V Results Framework 5 Inclusive Payment Ecosystems Initiative Results Framework2 Interim Interim Comments on Endline Endline Comments on target actual interim actual target actual actual against Outcomes Indicator number and title Baseline June FY16 June FY16 against target June FY18 June FY18 target Five-year Outcome 4.0 4.0.1 % of adults who own a 3 of 9 5 of 9 4 of 9 Not Achieved 4 of 9 6 of 9 Exceeded digital account and have used in 2013 countries countries countries countries Country success cases using Financial it in previous 90 days achieve achieve achieve achieved where digital payments Inclusion Insights 30% 30% 50% 50% are provided in a and Global Findex diverse and competitive data3 business ecosystem and are widely used 4.0.2 % of adults living below 3 of 9 5 of 9 3 of 9 Not Achieved 4 of 9 5 of 9 Exceeded the $2/day poverty line who in 2013 countries countries countries countries using Financial own a digital account and achieve achieve achieve achieved Inclusion Insights have used it in previous 90 25% 25% 40% 40% and Global Findex days data3 4.0.3 Ratio of male to female 5 of 9 Below 2:1 Below 2:1 Achieved Below 2:1 Below 2:1 Exceeded adults who own a digital in 2013 in 6 of 9 in 7 of 9 in 6 of 9 in 8 of 9 using Financial account and have used it in countries countries countries countries Inclusion Insights the previous 90 days and Global Findex data3 Supporting Outcome 4.1.1 Basic regulatory 0 of 9 100% in 100% in Achieved 100% 100% Achieved 4.1 enablers in place, incl. rules in 2013 place in place in in place in in place in CGAP-managed governing: (a) E-money (b) 4 of 9 4 of 9 7 of 9 7 of 9 Enabling regulations data source Agents (c) Tiered KYC (d) countries countries countries countries are in place that Allowing multiple types of promote the viability institutions to deploy DFS and scale of digital (e) Consumer protection in payments financial services. Annex B | Consolidated CGAP V Results Framework 6 Inclusive Payment Ecosystems Initiative Results Framework (continued) Interim Interim Comments on Endline Endline Comments on target actual interim actual target actual actual against Outcomes Indicator number and title Baseline June FY16 June FY16 against target June FY18 June FY18 target Supporting Outcome 4.2.1 Number of countries Not met No n/a n/a 8 of 9 8 of 9 Achieved 4.2 with clear government in any midterm countries countries CGAP-managed commitment to digitizing country target meet the met the Governments have data source payments (policy statements) (indicator criteria criteria introduced policies and at least two key examples changed and adopted practices of digitizing P2G/G2P mid that open up payments. project) pathways to support widespread use of digital payment services Supporting Outcome 4.3.1 % of population within 2 of 9 All 6 of 7 Not Achieved All 1 Achieved4 4.3 the access frontier (<5km in 2013 countries countries countries Financial Inclusion from a financial service above above above A competitive provider Insights access point) 50% 50% 65% ecosystem develops that is able to scale low cost digital payment services to reach a majority of the 4.3.2 Largest DFS provider 4 of 9 5 of 9 4 of 8 Not Achieved 7 of 9 6 of 9 Not achieved population has less than 60% share of in 2013 countries countries countries countries CGAP-managed active customers and at least meet the meet the meet the met the data source two others have no less than criterion criterion criterion criterion 10% each. Annex B | Consolidated CGAP V Results Framework 7 Digital Finance Frontiers Initiative Results Framework Interim Interim Endline Endline Comments target actual Comments on target actual on actual June June interim actual June June against Outcomes Indicator number and title Baseline FY16 FY16 against target FY18 FY18 target Five-year Outcome 5.0 5.0.1 # of providers leveraging the digital 11 15 17 Exceeded 25 38 Exceeded channel to offer “frontier” financial services Providers in multiple markets in emerging markets5 leverage digital payments and apply innovative business models to offer a broad range of solutions to poor people Supporting Outcome 5.1 5.1.1 % of digital payment providers n/a 10% 10% Achieved 33% 50% Exceeded surveyed who indicate that they have been Third party providers are enabled influenced by CGAP activities in determining to build solutions leveraging their approach to opening up their digital digital payments channels6 Supporting Outcome 5.2 5.2.1 # of proof points developed by CGAP 0 3 3 Achieved 9 16 Exceeded in partnership with providers showing the Reference providers experiment impact of promising technologies and/ with a range of “frontier” digital or approaches to enhance the delivery of financial services targeting poor existing digital financial services people 5.2.2 # of experiments with CGAP involve- 0 1 1 Achieved 7 7 Achieved ment testing new digital financial services7 5.2.3 # of experiments conducted by CGAP in 0 2 2 Achieved 4 6 Exceeded partnership with providers that demonstrate the benefit of linking digital finance and delivery of basic services Supporting Outcome 5.3 5.3.1 % of stakeholders surveyed (providers 0 20% 65% Exceeded 33% 74% Exceeded and funders) who work/invest/promote Providers and funders use CGAP research to facilitate, develop, or digital financial services and indicate they have incorporated input from CGAP’s enable the delivery of “frontier” knowledge products or dissemination digital financial services activities in their workplans, activities or approaches8 Annex B | Consolidated CGAP V Results Framework 8 Global Policy Architecture Initiative Results Framework Interim Interim Endline Endline target actual Comments on target actual Comments on June June interim actual June June actual against Outcomes Indicator number and title Baseline FY16 FY16 against target FY18 FY18 target Five-year Outcome 6.0 6.0.1 # of new activities or 0 4 3 Not Achieved 6 7 Exceeded processes of direct relevance Increased understanding Although the to financial inclusion in which of interdependence of interim actual is multiple SSBs or other global financial inclusion, stability, one activity short, bodies participate integrity and consumer we anticipate two protection reflected in the additional activities mainstreaming of financial in the first half of inclusion among relevant FY17. standard-setting bodies, informed by innovation 6.0.2 # of SSBs and other global 0 3 3 Achieved 4 4 Achieved from emerging market and bodies acknowledging the developing economies interdependence of financial inclusion and one or more additional I-SIP objectives in multiple policy documents Supporting Outcome 6.1 6.1.1 # of new SSB and global 0 4 13 Exceeded 20 24 Exceeded body policy documents of direct SSB standards and relevance to financial inclusion guidance show increased understanding of financial inclusion and less siloed 6.1.2 # of new SSB and global 0 3 3 Achieved 4 11 Exceeded approach body policy documents of direct relevance to financial inclusion that reflect less siloed approach Supporting Outcome 6.2 6.2.1 Concrete examples of policy 0 3 4 Exceeded 5 6 Exceeded making in key markets informed Improved understanding of by I-SIP analysis I-SIP linkages reflected in more proportionate policy in key markets Annex B | Consolidated CGAP V Results Framework 9 Protecting Consumers Initiative Results Framework Interim Endline Endline Comments Interim actual Comments on target actual on actual target June interim actual June June against Outcomes Indicator number and title Baseline June FY16 FY16 against target FY18 FY18 target Five-year Outcome 7.0 7.0.1 # of additional countries or firms that 0 4 5 Exceeded 9 29 Exceeded have adopted new policies or implemented Additional countries and (2 countries new measures and industry practices to firms take concrete steps & 2 firms) better protect BoP financial consumers towards the adoption of against the main consumer risks new policy and industry practices that better protect BoP financial consumers against main consumer risks Supporting Outcome 7.1 7.1.1 # of markets where consumer and 2 3 3 Achieved 6 12 Exceeded behavioral research methods and tools More effective consumer adopted by consumer protection policy protection regulation as makers and/or providers a result of the adoption and application of CGAP- developed behavioral 7.1.2 # completed regulations and other policy 0 3 3 Achieved 6 11 Exceeded research methods/tools interventions in reference countries that used behaviorally-informed findings Supporting Outcome 7.2 7.2.1 # of good practices and standards in each 0 1 5 Exceeded 9 17 Exceeded of the main risk areas related to new business Good practices to models defined and shared between reference protect digital finance firms and regulators customers against main emerging risks developed and adopted by lead (reference) firms 7.2.2 # of reference firms adopting emerging 0 2 3 Exceeded 9 9 Achieved and regulators good practices and standards 7.2.3 # of EMDE governments taking concrete 0 1 3 Exceeded 6 20 Exceeded steps towards the adoption of relevant proportionate regulation, supervision, and other policy measures to protect DFS consumers against the main emerging risks Annex B | Consolidated CGAP V Results Framework 10 Funder Guidance Initiative Results Framework Interim Endline Endline Interim actual Comments on target actual Comments on target June interim actual June June actual against Outcomes Indicator number and title Baseline June FY16 FY16 against target FY18 FY18 target Five-year Outcome 8.0 8.0.1 # of donors contributing to 7 Increase 9 Exceeded 15 15 Achieved facilitators operating at the market by 15% The allocation and level channeling of funding by public donors, DFIs and philanthropies has improved to facilitate the development of inclusive financial markets Supporting Outcome 8.1 8.1.1 % of donors, DFIs, and n/a 50% 30% Not Achieved 75% 50% Not achieved philanthropies surveyed who have Strong knowledge base adequate knowledge to enable of public donors, DFIs them to facilitate the development and philanthropies to of inclusive financial markets make appropriate funding allocation decisions and to use the right instruments to 8.1.2 # of donors whose strategies 10 n/a (12) n/a 50% 15 Achieved facilitate the development integrate a market development over of inclusive financial approach in their financial inclusion baseline markets work Supporting Outcome 8.2 8.2.1 # of donors systematically 0 1 1 Achieved 3 1 Not achieved using market measurement Reference donors and approaches for monitoring and implementers apply new evaluating market level changes and market measurement to inform their interventions practices for improved program-cycle decision- making 8.2.2 # of facilitators and/or 0 2 3 Exceeded 4 3 Not achieved program implementers applying a market measurement approach to measuring and evaluating impact to support financial market development Annex B | Consolidated CGAP V Results Framework 11 Endnotes 1. Afghanistan, Colombia, Ethiopia, India (Jharkhand and Odisha), 6. “Digital payment providers” include Mobile Network Operators Indonesia, Kenya, Mexico, Pakistan, Paraguay, Peru, and the (MNOs), Mobile Virtual Network Operators (MVNOs), electronic money Philippines and UNHCR. issuers, and banks. They must be in Africa or Asia with more than 20% market share in the payments space in at least one market, based on GSMA data as of December 2015. 2. IPE is the only initiative under CGAP V that has global market- level indicators to which the entire financial inclusion industry contributes. 7. “New digital financial services” refers to financial service offerings where the innovation is not centered on the channel, but on the value proposition to the customer, the sustainability for the provider or the 3. The data source for end of CGAP V numbers for indicators 4.01, scalability of the service. These may include completely new financial 4.02, and 4.03 for Myanmar, Bangladesh, India, Pakistan, Kenya, solutions, or solutions that are adapted from developed countries, and Tanzania is Financial Inclusion Insight surveys conducted by higher-income segments or non-digital providers. These could be Intermedia. Global Findex is the source for Uganda, Rwanda and new credit, savings, insurance, or payment services, or could involve a Ghana. See discussion below on the use of data sources. combination of any of these. 4. Financial Inclusion Insights (FII) data was not available in 2018 for 8. In this context, stakeholders surveyed include providers (DF+ providers Ghana and Rwanda. However, earlier FII surveys showed that these and mobile money providers) – as well as funders who invest in DF+ countries had already exceeded the 65% threshold. programs/research. 5. “Frontier” digital financial services are those that meet the following criteria: (i) the service must target, and have potential to reach, the mass market including lower income and poor customers; (ii) the service must be a commercial deployment offered in an emerging market; (iii) the service must use CGAP’s attributes of digital channels in a meaningful way; (iv) the full product lifecycle (marketing, account opening, customer service, etc.) must occur over the digital channel; and (v) the service must have potential to either enhance the value on offer for customers, improve the sustainability for providers or increase the scalability of financial products/services.