Case Study: MasterCard Foundation achieves client‑centric financial inclusion impact with Wazoku

MasterCard Foundation - Customer Case Study

The MasterCard Foundation launched the Clients at the Centre Prize to tackle a major access gap — an estimated two billion people lack formal financial services — by recognising the most innovative, truly client‑centric financial service organisations operating in the developing world. Applicants from anywhere in the developing world competed over 12 months, with hundreds engaging and 126 solutions submitted, and the final decision was made in an exciting live presentation ‘battle’ at the 2015 MasterCard Foundation Symposium on Financial Inclusion, where the winner received $150,000.

Three finalists — Buusaa Gonofaa Microfinance, BIMA mobile, and PesaTransact — competed and BIMA was selected for its use of mobile technology, consumer research, simple product design and claims agents that guide clients, reflecting institutionalised client‑centric practices. The Prize boosted exposure for client‑centric approaches, expanded the Foundation’s global community, and identified a range of innovative organisations; BIMA now serves 20 million customers, 80–90% of whom are purchasing insurance for the very first time.

MasterCard Foundation