>> See brochure from ITAD
>> WSBI Making Small Scale Savings Work program
BRUSSELS, 7 April 2017 – A new
brochure from ITAD released this week announces The MasterCard Foundation Savings Learning Partnership, of which WSBI's takes part through the
Making Small Scale Savings Work effort. The MasterCard Foundation Savings Learning Partnership is a six-year initiative implemented by Itad, in partnership with the SEEP Network, that aims 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.
WSBI's partnership with the MasterCard Foundation, called
Making Small Scale Savings Work, will test and apply 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 will help existing partner banks in three African countries – Kenya, Morocco, Uganda – reach scale and sustainability with their low balance accounts and support up to four new West African partner banks to dramatically increase savings amongst these segments in their countries – Cote d'Ivoire, Mali, Nigeria, Senegal.
Key learning questions to be addressed during the partnership are:
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 (e.g., apps, gamification and other novel ideas) 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?
Does greater customer centricity (via deeper knowledge of the customer, offering usable, affordable and accessible services, integration of the WSBI/MCF programme into bank strategies, and institutional and cultural change) lead to customer growth accompanied by more active customer bases?
Which business models result in sustainable business cases for financially disadvantaged segments?
The MasterCard Foundation works with visionary organisations 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.
The MasterCard Foundation Savings Learning Partnership is a six-year initiative implemented by Itad, in partnership with the SEEP Network, which includes WSBI and its Making Small-Scale Savings Work programme. 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.
>> See brochure from ITAD
>> Discover: Making Small-Scale Saving Work programme