Behavioural economics is a powerful field that combines economics and psychology to influence behaviour and improve decision-making for the better through low-cost, high-impact, easy-to-implement interventions. Genesis Analytics created the first team of consultants in Africa in 2014 to use a scientific understanding of human behaviour to solve practical problems in the world of business.
Behavioural campaigns lift loans response rates by 102%
A large financial institution approached the Applied Behavioural Economics (ABE) team to increase the response rates for one of its financial services campaigns. Behavioural economics principles were successfully applied to optimise various existing customer communication channels throughout the personal loan take-up/uptake journey.
ASSISTING to build INTERNAL BEHAVIOURAL ECONOMICS CAPABILITY
Based on a series of exceptionally successful projects with a major financial services provider over the past five years, the Applied Behavioural Economics (ABE) team has been working closely with stakeholders to continue achieving this success on a larger scale by establishing and guiding an internal behavioural economics capability.
Behavioural Experiment validates new financial product
Genesis Analytics was commissioned to determine whether a pivotal new product would function by using a robust behavioural experiment. The experimental approach was key because focus groups and surveys could not adequately capture the experience of using the client’s product.
Real-time system to update customer information for major FSP
Genesis Analytics assisted in the development and assessment of a new, face-to-face, system-driven, financial advice process that involved real-time information updating on customers. This involved a rigorous behavioural approach to testing and analysing the impact on market perceptions.
Behavioural economics boosts annual premiums by 60%
The Applied Behavioural Economics team was commissioned to improve the conversion rates and the premiums collected for an asset manager’s retirement-product campaigns. The campaigns sought to migrate customers from old-generation products to new ones, while also increasing monthly premium contributions.
Communications and broadcasting
We work with governments and regulators to cut through the complexities of digital markets and ensure that digital policy and regulation are fit for purpose, striking the optimal balance between intervention and innovation. Our work includes all aspects of governance and economic regulation including competition, digital rights, data protection and privacy, consumer protection, e-commerce, economic structure and digital trade.
Our digital economy team at Genesis focuses on technology innovation and the opportunities it provides for improving the development potential of African nations. Our work is focused on supporting African governments, their development partners and private firms in forging new tech-enabled pathways to inclusive growth.
We work with our clients to develop solutions aimed at improving the health of populations throughout sub-Saharan Africa. Our region faces the challenges of the quadruple burden of disease, which includes both communicable and non-communicable diseases, as well as violence and injury.
Coupled with this are relatively weak health systems, heavy reliance on donor funding and inequitable public and private sectors. Within this context, we provide experts with decades of experience in the design, implementation, costing and evaluation of health programmes, and strengthening of sustainable health systems.
Financial services strategy
Our Financial Services team has completed more than 600 projects across sub-Saharan Africa and the Middle East since 2001. We work with leading financial institutions to address their challenges, unlock value for their stakeholders and shape the future of the industry.
Our team understands the evolving technology and market structures, economics and regulatory trends across all segments of the financial services sector. Our distinct approach is characterised by deep specialisation and rigorous analysis based on a strong economics foundation.