We leverage the opportunities created by a rapidly digitizing global economy, deploying our unique multi-disciplinary, nimble, client-centric approach to execute a range of projects combining financial tools, user-centered design, information, policy, and technology to characterize their challenges and design responses.

Some of our programs like Catalyst Fund, Finnsalud, and the RegTech for Regulators Accelerator (R2A) are multi-year, ground-breaking initiatives that create solutions at the frontier and transform ecosystems.


Banco Estado Multi-Channel Strategy

BFA Global worked closely to design a sustainable channel strategy targeting BancoEstado customers, and increase access to improved financial services for the benefit of low- and moderate-income people in Chile, with a focus on increasing the usage of digital channel … Continue reading →

BTCA Payments Diagnostics for Ghana and Vietnam

CHARGE Phase 1

Working with a local partner to design feasible aggregators models to help financially excluded customers in China to use financial services provided by superplatforms. BFA Global worked with the Chinese Academy of Financial Inclusion (CAFI) to design and establish local … Continue reading →

China Financial Diaries

To better understand the financial services needs of the demand side, which includes both households and smallholders/enterprises, the World Bank Group in partnership with CAFI and BFA Global are undertaking Financial Diaries research, with the ultimate goal of informing improved … Continue reading →


BFA Global worked with the Central Bank of Nigeria (CBN) and the Nigeria Inter-Bank Settlement System Plc (NIBSS) to redesign their data infrastructure converting voluminous raw data into easily digestible insights.   The “data stack” consists of: A transactional data … Continue reading →

Developing a “Propensity to Succeed Profile” for Young People

BFA Global worked with  Well Told Story (WTS) to review data to predict a young person’s propensity to succeed. BFA Global explored the data for trends and patterns  for indicators that could be associated with success. We then followed-up with … Continue reading →

Egypt gender data

BFA Global worked with the regulators, supervisors, and policymakers at the Central Bank of Egypt, along with other stakeholders, to develop a framework with indicators and methodologies for collecting, analyzing and using gender-disaggregated data. In addition, our team worked with … Continue reading →



What Financial Services do Merchants Need to Grow?   FIBR’s medium-, small- and microenterprise (MSME) research portfolio, worked with partner Sokowatch, an e-commerce platform for informal merchants in Kenya. Together, we explored the customer journey along the order & delivery … Continue reading →


PAYGo is a workstream of the FIBR Project which worked with Off-Grid Electric’s (OGE) operations teams to execute pilots and sales experiments to field-test optimized product offerings, incentives, and interventions. In extending financial services to low-income customers, our engagement with … Continue reading →

Fiji Regulatory Impact Assessment (RIA)

A regulatory impact assessment (RIA) can assist in determining the change affected by regulation/policy (henceforth combined and referred to as regulation) and isolating the right variables for achieving the regulatory objectives, financial inclusion being one of them. The Fiji RIA … Continue reading →

FSD Network Strategy and Shared Services

BFA Global delivered on three key areas of work in order to build consensus across the Financial Sector Deepening Network (FSD Network) on their future country-led programs and operational structure. We facilitated assessment of strategic real-economy and financial sector domain … Continue reading →

Gateway to Financial Innovations for Savings (GAFIS)

In the GAFIS project, BFA Global worked with bank executives and staff to design savings products to serve low-income customers of five commercial banks in diverse markets with over USD$256 billion in combined assets and over 60million accounts. BFA Global … Continue reading →

Gender Insights from Financial Diaries

The microfinance industry began with a focus on women’s empowerment through access to credit and discussions of financial inclusion today, through much broader-based to cover the spectrum of population segments, continue to reflect a desire to better serve women. Yet … Continue reading →

Ghana Digital Financial Services Policy (Ghana DFS Policy)

BFA Global worked with the Ministry of Finance and other stakeholders to draft a national Digital Financial Services policy for the Republic of Ghana in the context of its National Financial Inclusion Strategy. We benchmarked DFS policies in similar countries, … Continue reading →

Global e-Money Regulatory Engagement

The G2P/P2G and Their Enablers Deck is a modular presentation, modeled loosely on the Global e-Money Regulation Deck, intended for BMGF country managers, Ministry of Finance permanent secretaries, Ministry of Finance mid-level officers, financial service providers, multilateral officers, and advocacy … Continue reading →

GOGLA Innovation Gallery

In 2018, the FIBR team was at the Global Off-Grid and Lighting Association (GOGLA) Annual General Meeting in Amsterdam. This is the member-facing off-grid solar industry event where we had the chance to present the PAYGo NEXT Innovation Gallery: Powering … Continue reading →

GSMA Mobile Money APIs Review

GSMA Mobile Money Regulatory Index

In September 2018, GSMA launched the Mobile Money Regulatory Index, a new interactive regulatory tool that provides a quantitative assessment of the extent to which regulation has been effective in establishing enabling regulatory environments. It currently offers a unique benchmarking … Continue reading →

IDB Alternative Credit Scoring Systems

BFA Global worked to identify the current credit market configuration in relation to ACSS technology and the incentives for the adoption – and to see what is evolving over time – in two different ecosystems: the US and China. To … Continue reading →

Digital Commerce and Youth Unemployment in Africa (iWorker Phase 1)

The e-commerce+ project delivered compelling scenarios that crystallize the issues and the dynamics surrounding digital commerce. It drew on the burgeoning literature about the link between digital commerce and employment as well as dipstick research in Kenya, Nigeria, South Africa, … Continue reading →

Kenya Financial Diaries

BFA Global, funded by FSD Kenya, undertook a comprehensive financial diaries study in Kenya. Over the course of one year, BFA Global designed a sample study for the low-income population segments in Kenya which included the use of research instruments, … Continue reading →

Landscaping of Mobile Money in P2G in Africa

GSMA has commissioned BFA Global to conduct a market study in Cameroon, Democratic Republic of Congo (DRC), Burkina Faso, Senegal and Cote d’Ivoire to identify potential gains that can be achieved by facilitating P2G payments via mobile money and the … Continue reading →

Market Readiness Assessment Study for Digital Finance Plus (DF+) in Uganda

BFA Global was commissioned to study market readiness for Digital Finance Plus (DF+) in Uganda, based on a framework developed by CGAP and McKinsey. The aim of the study was to provide information on the market conditions and opportunities for … Continue reading →

Mexico Financial Diaries

Mexico Financial Diaries set out to obtain granular, long-term, provider-side data about the financial lives of low-income Mexicans. This data was used by BANSEFI to better understand and serve this market segment. Detailed information gained from these households would impact … Continue reading →

Mobile Money Interoperability Market Demand Study

BFA Global designed and coordinated a nation-wide study to determine if there was sufficient demand for mobile money interoperability. The research involved a household survey administered to mobile money users, an agent survey administered to mobile money agents that deal … Continue reading →

Nigeria e-Money Regulatory Engagement

BFA Global worked with the Bill & Melinda Gates Foundation (BMGF) to develop and present a PowerPoint slide deck addressing key electronic money (e-money or mobile money) regulatory and supervisory issues, with the ultimate goal of creating a more enabling … Continue reading →

Opportunity International UK Digital Transformation Strategy Advisory

BFA Global conducted a macro evaluation of the DFI strategy based on a comparison to industry best practices and a synthesis of our expertise from prior work in both countries. This was coupled with a micro evaluation where we conducted … Continue reading →


Pacific Financial Inclusion Programme (PFIP)

BFA Global worked with the Pacific Financial Inclusion Programme (PFIP) to design a conceptual framework and develop a measurement toolkit to measure impact across the PFIP portfolio. We designed the framework for connecting each intervention into an overall framework by … Continue reading →

Quantifying Impact in Sustainable Mobility

Shell Foundation (SF) contracted BFA to undertake a study to better understand and document the range of impacts that sustainable mobility enterprises have on society and the environment, with the objective of both creating an impact research methodology that can … Continue reading →

Refugees and Their Money: The Business Case for Providing Financial Services to Refugees (Rwanda)

BFA Global, supported by FSDA, carried out a macro- and micro- analysis to build a better understanding of the financial needs of displaced populations in Rwanda. The study had two objectives: first, to provide market intelligence to build a sound … Continue reading →

Savings at the Frontier

BFA Global worked in collaboration with OPM and Microsave in selecting and supporting high-potential FSPs in Ghana, Zambia and Tanzania to implement new business models around the concept of savings groups to deliver financial services to individuals who only have … Continue reading →

Smallholder Financial Diaries

The Consultative Group to Assist the Poor (CGAP) contracted BFA Global to implement the year-long Financial Diaries with Smallholder Families to elucidate the financial lives of smallholder households and build the evidence base on this important client group. The study, … Continue reading →

Target Market Analysis

Fidelity bank Ghana intends to become the leading provider of banking services to the mass market in Ghana. Fidelity’s Financial Inclusion Unit (FIU) sought analytical support to better understand existing and future low-income clients and offer products that build on … Continue reading →

Target Product Profile (TPP)

Developed Target Product Profiles (TPP) for digital financial services to direct pro-poor retail payments systems globally (2019) BFA worked with the Bill & Melinda Gates Foundation (BMGF) to research, define, and test potential for a TPP, previously used successfully in … Continue reading →

UNCDF Remittance Study in Uganda

BFA Global developed and piloted a tool to conduct a country assessment on demand, supply, and regulatory considerations for cost of and access to efficient, reliable, and cheaper regulated remittance channels that could also be used to further link remittances … Continue reading →


BFA is managing the Financial Health Innovations in Vietnam (VietFHI) project that aims to support Capital Aid Fund for Employment of the Poor (CEP) to become the premier digital microfinance institution (MFI) in Vietnam, with an integrated financial health (FH) … Continue reading →