Harvard Case - MobiVi: Establishing Credit Lending, Micro Donations, and Allied Services in Vietnam Using Telecom Technologies
"MobiVi: Establishing Credit Lending, Micro Donations, and Allied Services in Vietnam Using Telecom Technologies" Harvard business case study is written by Hau Lee, Christopher S. Tang, Jawad Masood. It deals with the challenges in the field of Entrepreneurship. The case study is 20 page(s) long and it was first published on : Feb 13, 2013
At Fern Fort University, we recommend MobiVi pursue a phased approach to establishing its credit lending, micro-donation, and allied services in Vietnam, leveraging its existing telecom infrastructure and strong brand recognition. This strategy will focus on building trust, fostering financial inclusion, and maximizing profitability through a combination of financial analysis, risk assessment, and strategic partnerships.
2. Background
MobiVi, a leading telecommunications company in Vietnam, seeks to expand its services beyond traditional voice and data offerings. The company recognizes the potential of the burgeoning Vietnamese market, particularly in underserved segments. This presents an opportunity to establish a robust financial ecosystem through credit lending, micro-donations, and allied services.
The case study highlights MobiVi?s strengths: a vast customer base, established infrastructure, and a strong brand reputation. However, challenges include navigating the complex regulatory landscape, managing credit risk, and building trust with potential borrowers.
3. Analysis of the Case Study
Financial Analysis:
- Market Potential: Vietnam?s growing economy and increasing financial inclusion present a significant market opportunity for MobiVi. The company can leverage its existing customer base and network to reach underserved segments.
- Financial Strategy: MobiVi should adopt a prudent financial strategy that balances profitability with social impact. This includes:
- Capital budgeting: Carefully evaluating potential investments in technology, infrastructure, and workforce development.
- Risk assessment: Implementing robust credit scoring models and risk management practices to mitigate potential losses.
- Cash flow management: Optimizing working capital and ensuring sufficient liquidity to support operations.
- Return on Investment (ROI): MobiVi should focus on maximizing ROI by:
- Pricing strategy: Developing a competitive pricing model that balances profitability with accessibility.
- Activity-based costing: Accurately allocating costs and identifying areas for efficiency improvements.
- Financial forecasting: Developing accurate financial projections to guide decision-making.
Strategic Analysis:
- Partnerships: MobiVi should leverage strategic partnerships with financial institutions, NGOs, and government agencies to:
- Access expertise: Gain insights into financial services and regulatory requirements.
- Expand reach: Tap into existing networks and customer bases.
- Share risk: Mitigate credit risk and enhance financial stability.
- Growth Strategy: MobiVi should adopt a phased approach to growth, starting with:
- Pilot programs: Testing services in specific regions and segments to refine operations and gather data.
- Incremental expansion: Gradually expanding services to new regions and segments based on successful pilot programs.
- Diversification: Expanding into allied services like insurance, micro-insurance, and mobile money.
- Technology and Analytics: MobiVi should leverage its existing technology infrastructure and invest in technology and analytics to:
- Enhance customer experience: Develop user-friendly mobile applications and online platforms.
- Improve decision-making: Utilize data analytics to optimize credit scoring, risk management, and marketing efforts.
- Drive innovation: Explore emerging technologies like blockchain and artificial intelligence to enhance financial services.
4. Recommendations
Phase 1: Pilot Program (12-18 Months)
- Focus: Develop and launch a pilot program for micro-loans in a specific region with a high concentration of MobiVi?s existing customer base.
- Partnerships: Partner with a reputable microfinance institution or NGO to gain expertise in credit assessment, loan disbursement, and collection processes.
- Technology: Develop a user-friendly mobile application for loan application, repayment, and customer support.
- Risk Management: Implement robust credit scoring models and risk management practices to minimize potential losses.
- Data Collection and Analysis: Track key performance indicators (KPIs) such as loan approval rates, repayment rates, and customer satisfaction.
Phase 2: Expansion (18-24 Months)
- Expansion: Based on the success of the pilot program, gradually expand the micro-loan service to new regions and segments.
- Product Diversification: Introduce new products like micro-insurance, mobile money, and savings accounts.
- Strategic Partnerships: Explore partnerships with financial institutions, NGOs, and government agencies to expand reach and access new markets.
- Technology Enhancement: Invest in technology upgrades to improve customer experience, data analytics, and operational efficiency.
Phase 3: Growth and Innovation (24+ Months)
- Growth: Leverage the established platform to achieve significant growth in credit lending, micro-donations, and allied services.
- Innovation: Explore emerging technologies like blockchain and artificial intelligence to enhance financial services and develop new products.
- International Expansion: Consider expanding into neighboring countries with similar market conditions.
- Public Offering: Explore the possibility of an IPO to access capital for further expansion and innovation.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies: MobiVi?s existing telecom infrastructure, customer base, and brand recognition provide a strong foundation for entering the financial services market.
- External customers: The recommendations focus on addressing the needs of underserved segments in Vietnam, promoting financial inclusion and economic development.
- Competitors: The recommendations consider the competitive landscape and aim to differentiate MobiVi through innovative products, strategic partnerships, and a focus on customer experience.
- Attractiveness: The recommendations are expected to generate a positive return on investment (ROI) through increased revenue, improved profitability, and enhanced shareholder value.
- Assumptions: The recommendations are based on the assumption that MobiVi will continue to operate in a stable and growing Vietnamese economy with a favorable regulatory environment.
6. Conclusion
By adopting a phased approach, leveraging strategic partnerships, and investing in technology and analytics, MobiVi can successfully establish itself as a leading provider of financial services in Vietnam. This strategy will contribute to financial inclusion, economic development, and the company?s long-term growth and profitability.
7. Discussion
Alternatives:
- Acquiring an existing financial institution: This would provide immediate access to a customer base and infrastructure but could be expensive and risky.
- Focusing solely on micro-donations: This would limit the potential for profitability but could enhance MobiVi?s social impact.
Risks:
- Regulatory uncertainty: The Vietnamese financial services sector is subject to ongoing regulatory changes, which could impact MobiVi?s operations.
- Credit risk: MobiVi needs to manage credit risk effectively to avoid significant losses.
- Competition: MobiVi will face competition from established financial institutions and other telecommunications companies entering the market.
Key Assumptions:
- The Vietnamese economy will continue to grow and provide a favorable environment for financial services.
- The regulatory environment will remain relatively stable and supportive of innovation.
- MobiVi will be able to successfully manage credit risk and maintain a high level of customer satisfaction.
8. Next Steps
Timeline:
- Year 1: Launch pilot program for micro-loans and gather data.
- Year 2: Expand micro-loan services to new regions and introduce new products like micro-insurance and mobile money.
- Year 3: Focus on growth, innovation, and international expansion.
Key Milestones:
- Secure partnerships with financial institutions and NGOs.
- Develop and launch a user-friendly mobile application.
- Implement robust credit scoring models and risk management practices.
- Track key performance indicators (KPIs) and adjust strategies based on data analysis.
- Explore opportunities for an IPO to access capital for further expansion and innovation.
By implementing these recommendations and actively managing risks, MobiVi can successfully establish itself as a leading provider of financial services in Vietnam, contributing to financial inclusion, economic development, and its own long-term growth and profitability.
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Case Description
In 1984, Trung Dung fled political persecution in Vietnam, the country of his birth, to arrive in the United States as a refugee with only $2 in his pocket. Over the next two decades, he proved his mettle as one of the most astute and successful Vietnamese-American entrepreneurs. Although Dung had never thought that he would return to Vietnam, the instinctive entrepreneur inside him recognized the opportunities presented by country's rapidly developing and modernizing economy. Dung returned in 2007 to found MobiVi, an Electronic Financial Transactions (EFT) firm. This case explores the intersection of mobile network operators, the ETF industry, and social entrepreneurs to pursue an innovative approach to providing financial services to the approximately 2 billion people worldwide who lacked access. The focus is on three of MobiVi's areas: the Nationwide Distribution System (NDS) unit, MobiVi's innovative offerings around financial services (MFS), and MobiVi Foundation. In 2012, Dung was looking at how to address market inefficiencies, help MobiVi's investors and business partners create and capture more value, and make credit more accessible to the middle and lower income classes in Vietnam. Dung was optimistic given the positive state of the Vietnamese economy, the patented MobiVi payments processing technology, and the most recent developments in telecommunication technologies.
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