It’s Time to Address the Microsavings Challenge, Scalably

Abstract:     
The option to store value and to transact from a safe savings account is the foundation of financial inclusion. There is a need for developing banking models that allow poor people to save daily, as they earn money, right from their neighbourhoods and villages. This requires leveraging existing non-bank retail outlets to serve as cash transaction points acting on behalf of licensed financial institutions, and mobile operators acting as channel managers and transaction aggregators. Such schemes need to be commercially viable for all players involved, without having to rely on credit as a driver of profitability.

Number of Pages in PDF File: 12

Keywords: Microsavings, Microfinance, Branchless Banking, Mobile Banking

Accepted Paper Series