Making Impact Via Cross-Selling

Our Mission

BFA, with the support of MetLife Foundation, and fiscal sponsor Rockefeller Philanthropy Advisors (RPA), aims to support financial institutions’ strategic and tactical thinking to optimize cross-selling strategies and build better financial services portfolios for their low-income customers.  Their customers will be able to actively using multiple products and, ideally, become dedicated, life-long customers of the institution which can better fulfill its customers’ financial needs.

Since 2016, OPTIX has been working with four financial institutions – SAJIDA Foundation, Banco W, Cooperativa Acreimex and Capital Aid Fund for Employment of the Poor (CEP) – in four markets—Bangladesh, Colombia, Mexico and Vietnam—to more intentionally pursue cross-selling strategies that positively impact the institutions and their customers. These institutions are 4 successful financial institutions with a deep commitment to improving the lives of the poor, offer multiple products and show agile management capabilities.


 

The Goals FOR OPTIX

  • Equip four socially-driven, financially sustainable institutions in developing countries with the tools to better serve their 700,650 customers through targeted products and appropriate service reach.
  • Ensure low income customers have a relevant and accessible array of financial products to protect themselves from unforeseen emergencies and to take advantage of opportunities to improve the lives of their families.
  • Provide greater knowledge to the broader financial inclusion community about how to develop and use a set of analytical tools to develop better information-driven strategies

Benefits for the Institutions

The institutions benefits by tapping into a new pool of revenue and raising profitability of existing products, by better leveraging existing customer relationships and increasing customer retention, loyalty and promotion.
 

Benefits for the Clients

Customers will benefit from savings on sign up costs, one stop shop convenience and more tailored products that suit their wide range of financial needs.

Our partners have proven experience reaching low-income customers with a variety of savings and credit products. This unique partnership and learning model will allow these organizations to broaden their overall financial portfolios, which should help them become more sustainable. MetLife Foundation is excited to be a part of this initiative because of its ability to meet nearly one million clients’ holistic financial needs, and increase the sustainability of the institution serving them.
— Dennis White, president & chief executive officer of MetLife Foundation