The assignment focused on four key areas: gaining an understanding of the transition to digital payment of wages in the sector, understanding how factory managers can make the transitions as smoothly as possible, gain insights into what influences adoption of e-wallets by the workers and map the players in the ecosystem can come together to enable scale. 

Armed with these evidence-based insights, garnered through desk research, surveys, focus group discussions and in-depth interviews, AVRIO developed recommendations for how all stakeholders, working in concert, could achieve the transition to responsible digital wage payments. The study took place against the backdrop of the pandemic, which affected the rapidly changing regulatory environment in Jordan but as well as the perceptions of e-wallets held by company managers and migrant workers.

The aim of the assignment is to address financial inclusion barriers for underbanked Jordanians and refugees.

Conducted a mapping of the digital financial services and digital wallet solutions. Assessed e-kyc, innovative credit scoring solutions, and digital ID integrations. Provided recommendations for fintech investments to accelerate access to finance & inclusion for typically underserved and informal populations. Specifically, examined the KIVA protocol and its applicability to serve (un)derbanked in Jordan; looking at KYC requirements, tech integrations with national payment switch, and Central Bank appetite to adopt such a solution.

The results indicated that the KIVA protocol would not add value except for the refugee segment, therefore pointing to the need for a more comprehensive solution.

The aim of the assignment is to assess the market for MSME financing gaps and identify opportunities for partnerships and expansion of embedded finance solutions in Jordan.

Conducted a mapping of the fintechs providing embedded finance as well as SME embedded finance solutions. Assessed SME demand, finance supply and regulatory environment to provide recommendations on investment opportunities for IFC. Identified three opportunities for IFC to explore further in terms of the support needed for the organizations to provide embedded finance solutions, expand their product offer beyond a certain SME client segment, or develop credit scoring using innovative data sources. Facilitated introductions between IFC and the recommended organizations to pursue.

The SANAD Fund for MSMEs Technical Assistance Facility and Al Hussein Fund for Excellence aimed to organize a series of webinars for Jordanian SMEs around the topic of digitization and digital transformation.

Designed, developed and implemented a series of five webinars on optimization and digitization for SMEs in Jordan. Identified SME needs through a series of interviews with SMEs, support organizations and financing institutions. Developed and disseminated a questionnaire to ensure webinar content is relevant for the target market. Provided practical tools and available resources in Jordan and in the region for SMEs to refer to when implementing the learnings.