The Making Small Scale Savings Work programme, or MTripleSW, aims to establish the viability of small-balance savings accounts. The programme is testing and applying new business models arising from economic analysis around price sensitivity and demand, targeted on low-income unbanked segments, aiming to reduce the incidence of dormancy and inactivity in banks’ customer bases.
It helps existing partner banks in three African countries – Kenya, Morocco, Uganda – reach scale and sustainability with their low balance accounts and will support up to four new projects in West Africa to dramatically increase savings amongst these segments in their countries, which are Cote d'Ivoire, Nigeria, Senegal.
The programme builds on previous work aimed at doubling the number of savings accounts for low-income people at partner banks in 10 countries. The work is important because sustained access to and use of savings mechanisms contribute to the well being of customers.
The programme aims for high-impact results with up to seven participating banks in the region to develop viable business models. WSBI is working with partners and institutions to harvest deeper insight about customers to build more customer-focused services.
At the same time, WSBI is looking for ways to boost banks’ trust level with them. The effort also seeks to embed programme objectives into banks’ strategies with knock-on effects for cultural change inside banks, including a transition into continuous learning organisations. Innovative approaches will be tested and proven, and through dissemination of information, potentially taken to scale in other countries.
> Which business models result in sustainable business cases for financially disadvantaged segments?
> Does greater customer centricity lead to customer growth accompanied by more active customer bases?
>What are the causes of such a high degree of account inactivity in the target countries and worldwide?
>What are the most effective drivers of usage and which innovative approaches are most successful
in stimulating account activity among financially disadvantaged people?
>To what extent do different pricing models stimulate demand for financial services from banks?
Mastercard Foundation works with visionary organizations to provide greater access to education, skills training and financial services for people living in poverty, primarily in Africa. As one of the largest, private foundations, its work is guided by its mission to advance learning and promote financial inclusion to create an inclusive and equitable world. Based in Toronto, Canada, its independence was established by Mastercard when the foundation was created in 2006. For more information and to sign up for the foundation's newsletter, please visit
www.mastercardfdn.org. Follow the foundation on at @MastercardFdn on Twitter.
Mastercard Foundation Savings Learning Partnership is a six-year initiative implemented by Itad, in partnership with the SEEP Network. The partnership’s aim is to support learning among the foundation’s savings sector portfolio programmes through increased alignment and effectiveness of monitoring and evaluation, and through the generation, synthesis, curation and dissemination of knowledge.
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