Previous Program: Doubling Savings Account Program
WSBI’s journey in financial inclusion dates back to 1924 with the inauguration of the first World Savings Day and has continued over the decades. In 2003, WSBI published research that revealed an estimated 1.4 billion low-cost/low-balance savings accounts worldwide, of which 1.1 billion accounts were managed by WSBI’s member banks.
Following further research, the institute launched in 2008 its ‘WSBI Doubling Savings Accounts’ Programme, which successfully concluded in 2016. Building on extensive learning, in September 2016 WSBI set out on its next stage in the journey.
It created the new programme supported by The MasterCard Foundation that aims to establish the viability of low-balance savings accounts through use of customer-centric approaches to address barriers identified in access, usage and affordability of savings services.