Blog Post: Young people: access to finance using branchless banking
Global Assets Project, New America Foundation
In her post, Monique Cohen points out some of the most common assumptions about how youth in developing countries use mobile banking and mobile phones. These assertions, some tantalizing and many requiring further substantiation, suggest that more research needs to be done in order to effectively market mobile banking and other mobile-enabled services to youth. New America Foundation has developed a survey as a means to investigate some of these assumptions. We invite you to share your thoughts on youth financial services and mobile technology in our survey here.
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Originally posted at Child & Youth Finance International Blog
Taking the Pulse: The Role of Technology in Youth Financial Inclusion
Technology, particularly mobile phones, seems poised to rapidly increase access to financial services in developing countries at a time when youth populations are exploding. Some view this as a natural mutually-reinforcing relationship in which mobile access can drive youth empowerment and vice versa. At the same time, there is still much to learn about the contours and intersection of technology and youth access, usage, and development.
Blog Post: Getting to know you(th): How piloting allowed HFC Bank to sharpen its value proposition for young people
By Corrinne Ngurukie, Save the Children
Measure twice, cut once
YouthSave’s bank partners began creating their youth savings accounts in 2010, with extensive market research that obtained firsthand information about the savings habits, needs, and preferences of young people. But using these data to design the savings accounts was not enough; the resulting product prototypes still had to be “road-tested” in order to confirm that we had correctly a) interpreted the market research, b) translated it into product designs that met youths’ needs, and c) put in place the right marketing, back-office and sales systems, policies, and delivery channels. In three countries – Ghana, Kenya and Nepal – YouthSave’s bank partners did this through time-bound pilots in a limited number of branches. These pilots yielded valuable lessons that ensured the products’ success when they finally rolled out network-wide in 2012.
Blog Post: Kenya Postbank's pilot experience
A youth account holder in coastal Kenya discusses what she likes and dislikes about SMATA with a pilot evaluation team member.
By Corrinne Ngurukie and Rani Deshpande, Save the Children
Measure twice, cut once
YouthSave’s bank partners began creating their youth savings accounts in 2010, with extensive market research that obtained firsthand information about the savings habits, needs, and preferences of young people. But using these data to design the savings accounts was not enough. The resulting product prototypes still had to be “road-tested” in order to confirm that we had correctly a) interpreted the market research, b) translated it into product designs that met youths’ needs, and c) put in place the right marketing, back-office and sales systems, policies, and delivery channels. In three countries – Ghana, Kenya and Nepal – YouthSave’s bank partners did this through time-bound pilots in a limited number of branches.
