In our first blog in this series, we highlighted how the low- and middle-income (LMI) segments in India present immense opportunities for ecosystem players.

Concisely, the processes through which the ecosystem players can engage with the LMI market effectively requires rethinking from the ground-up. This rethinking would include a redesign of products and services, explorations around combination of digital and physical outreach efforts, and effective, pro-poor communication from the supplier-side. Incumbents need to collaborate with fintechs and build on their respective strengths. Moreover, considering the economics of the supply-side, certain experiments would require philanthropic capital to create viable business models.These players may include fintechs, incumbents, investors, and donors, among others. In the earlier blog, we also deliberated on how the ecosystem has been moving towards an inflexion point, and why the time is right for stakeholders to venture into this space. This blog is the concluding part in this series. It highlights how ecosystem players can serve the LMI market and tap its potential.

The exhibit below presents seven possible ways in which ecosystem players can tap the opportunities in the LMI market. These ways require innovation and re-engineering that focuses on client-centricity and spans channels, communication, products, and partnerships.