Thank you for attending the Grameen Foundation Savings Seminar! Below is a recap and links to resources for attendees.
- 10 Lessons Learned (PPT)
- Product Design (PDF)
- Making the Business Case (PDF)
- Data Analytics (PDF)
- Mobile Financial Services (PDF)
If you'd like to receive more tools and resources each month from Grameen Foundation, please consider joining our Insights e-newsletter:
Alex Counts: President & Founder, Grameen Foundation
Alex Fiorillo: Vice President, ideas42
Fermin Vivanco: Financial Inclusion Specialist, MIF/IADB
Jacobo Menajovsky: Sr. Data Analyst, Grameen Foundation
Jordan Weinstock: Sr. Director, OpenRevolution
Kimberly Davies: Program Officer, Grameen Foundation
Leo Tobias: Program Manager, Mobile Financial Services, Grameen Foundation
Shannon Maynard: Chief of Staff, Grameen Foundation
Tanaya Kilara: Financial Sector Analyst, CGAP
Data Analytics: Answering Business Questions with Data
Includes a “Bring Your Own Data” Opportunity for Analysis of Your Data Set
Product Design: An Iterative Approach
With a Sneak Peek of Our Human-Centered Design Process and Toolkit
Building a Business Case: Golden Rules and Unique Examples
Mobile Financial Services & Agent Networks: Mobile Financial Services Must Haves
A New Perspective On Agent Network Challenges
Why is Savings Important?
The poor lead very unpredictable financial lives. Their income arrives in irregular increments as they struggle to build assets, leaving them vulnerable to financial shock. A single unplanned event – a healthcare emergency, natural disaster, or unexpected expense - can take away all the gains they’ve made. The poor need access to formal financial tools that allow them to manage risk, build assets, and manage daily household cashflows.
More than one-third of the world’s population – 2.5 billion people – lack access to financial services, including a savings account. While poor households make active use of informal savings mechanisms (such as moneyguards or burying cash), there is significant unmet demand for safe, convenient formal savings options. In particular, the poor appreciate both accessibility in their formal savings options – to meet daily needs – as well as inaccessibility, to ensure money is safely secured away from temptation. For poor households, especially those living on less than $2.50 per day, formal savings accounts – both demand deposit accounts and commitment savings accounts are essential for creating stability and for moving out of poverty.
Gramen Foundation’s Microsavings Initiative, funded by the Bill & Melinda Gates Foundation, works in partnership with local financial institutions in the Philippines, India, and Ethiopia to build savings products that meet the unique needs of the poor, delivering the products through innovative channels, including mobile phone-enabled channels, that are sustainable for the clients and institutions that serve them.
Highlights from this project’s approach include focuses on
- A client-centered approach
- Iterative product design
- Innovating in delivery channels
- Building business models