Monday, April 30, 2012
Bank branches’ opening hours coincide with school hours, making it difficult for in-school youth to transact. In addition, some youth and their parents reported that branch locations are inconvenient, located far away from both their schools and their homes. As PostBank prepares to take the product to scale, making the product easy to access will be critical. To address ease of access, youth will be able to use the bank’s other POS access points—namely PostBank agents and mobile phone banking (PataCash)—but for deposits only...
Out-of-school youth were difficult to mobilize because they tend to be scattered (as opposed to concentrated in one location like school-going youth), often lack identification documents, and have difficulty identifying a trusted adult with whom to operate the account. Going forward, PostBank plans to diversify its marketing and outreach strategies to reach a broader range of youth.
Friday, April 27, 2012
"BoK, which has been promoting savings habits among different socioeconomic groups through tailored products and accessible channels, hopes this product will a) bring marginalized and unbanked young people into the mainstream financial sector; b) create and encourage savings habits among youth; and c) strengthen the bank’s corporate social responsibility towards this important growing segment of Nepal’s society."
Friday, April 6, 2012
This type of approach becomes even more important for the sort of financial capability programming that YouthSave is implementing, because of our partnerships with local commercial banks. The idea of an NGO and a bank working together to offer an account is often met with confusion, if not suspicion, especially in countries where banks may not benefit from widespread public trust. In addition, offering opportunities for youth to open a savings account on school premises may be seen as a direct marketing tactic, particularly if there is only one bank involved. But there are several things implementers can do to counter these fears.
Friday, March 23, 2012
"In this podcast, we highlight the youth voice, hearing directly from four exceptional young people living in Kibera. Botul, Sofia, Idris and Zuhora tell us about their savings goals, challenges, and plans for the future. The interviews provide a snapshot of what owning a savings account truly means from the perspective of a YouthSaver."