LajanCash, building a digital financial service ecosystem in Haiti
TagPay's client, LajanCash, is developing a digital financial service ecosystem in Haiti, with a strong implementation in Port-au-Prince. Today 6 million people still do not have access to basic banking services, which is half of the Haitian population.
The field report explores LajanCash's implementation strategy as it builds a digital financial service ecosystem for the country.
"It is all about creating trust. Paying with cash or bartering goods does not require a third party. With digital financial services, a financial institution becomes a part of the equation.
In a country where budgets are set on a day to day basis for many, it is essential for the digital financial services to be adapted to the needs of the population and their day to day reality. Access to credit is widely developed, thanks to the work of microfinance institutions, but saving is not encouraged enough. In Haiti, saving has historically been done without any institution, by investing in a cow, a piece of land or a fruit tree. It is important to bring a value added service to the traditional system.
This is where LajanCash comes in. LajanCash understands what is happening in the field and we adapt the new technology to this reality. We are working closely with MercyCorps' saving circles as well as with microfinance institutions. "
-- LajanCash CEO