Indosat, a Qatar-based Ooredoo Group telecom subsidiary, launched a mobile banking service in Indonesia. Based on a mobile wallet branded Dompetku (“my wallet” in Indonesian Bahasa), the company introduced basic services to individual customers, allowing them to buy mobile phone credit; pay electricity bills issued by PLN – Indonesia’s monopoly electricity supplier – and perform domestic customer-to-customer money transfers, and a variety of e-commerce and merchant payment options. These services were intended to generate revenue via fees, and Indosat executives hoped that signing customers up to its mobile wallet would tie them more firmly to the company’s service by making it more inconvenient to change to another phone provider. By July 2014 it was clear to Tauseef Riaz, head of Indosat’s Digital Services Unit, that the strategy was not having the desired effect. The mobile wallet had nearly a million registered customers, but less than 10% were active users. Furthermore, Indosat had lost its biggest revenue generator, PLN, after small retailers complained at being cut out of the loop. Other fees generated were lower than anticipated, partly because of competition. And new regulations meant that, after the pilot ended in December 2013, Indosat could no longer leverage its distribution network to recruit and educate customers – something that it had struggled to do even when it was allowed to – because resource constraints made it hard for its team of 40 field staff to train employees in more than 100,000 retail outlets. Given Kenya’s success with M-Pesa, what options does Tauseef have to make Dompetku a success?
IMD Family Business Professor Peter Vogel interviews Cristina Carvajal, president of the Carvajal family council about the Columbian family’s 120-year success
From Twitter founder Jack Dorsey (and current X owner Elon Musk) to former and incumbent Presidents Bill Clinton and Donald Trump, many leaders reportedly sleep less than us mere mortals – as little as three to four hours a night. The truth is, ho...
Bid for iconic Japanese convenience store chain could mean beginning of foreign M&As in Japan
Engaging long-term institutional investors and financial analysts can curb excesses of managerial short-termism and boost corporate social performance, argue Stephen Smulowitz, Didier Cossin, and Abraham Hongze Lu.
It's a myth that having a brilliant idea is the hardest part of starting a company. Instead, these eight key factors determine startup success. It's a myth that having a brilliant idea is the hardest part of starting a company. Instead, these eigh...
Suffering from burnout, Riley works with an executive coach to redirect the need for perfection and people pleasing towards something more authentic.
This Book Club discussion explored actionable steps for individuals and companies to address the 'crisis of well-being'.
Pension funds can unlock the potential of venture capital by adapting the successful endowment model, managing risks and illiquidity for long-term growth and stability.
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Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications
Research Information & Knowledge Hub for additional information on IMD publications