This program is working to research the financial context of beneficiaries from the rural and urban communities and aims to develop a financial capability for households from low income groups, by assessing their financial status and creating an ecosystem to enable behavior change in using banking services. It also aims to generate acceptance of the digital channel among the low income segments.
Role of GFI
Undertake research led by IRMA to understand the key reasons for dormancy in bank accounts held by the low income segments and their usage (or lack thereof) of digital financial services. The research will study the use of cash by low income segments households and their propensity to replace these cash-based transactions with digital financial services channels.
Selection of a banking financial product and design of the adoption mechanisms (client education and handholding) required for customers to avail of this product through digital financial services channels
Assist the financial service provider in launching the use-case to a pilot group. Drawing from its expertise in client education and handholding, GFI will focus on increasing usage of existing products. It will also monitor usability, adoption and the impact on dormancy rates.
This program is working to research the financial context of beneficiaries from the rural and urban communities and aims to develop a financial capability for households from low income groups, by assessing their financial status and creating an ecosystem to enable behavior change in using banking services. It also aims to generate acceptance of the digital channel among the low income segments.
Role of GFI