Making Presentations That Stick - SPTF · 2018-04-02 · Meet Seema and Harish • Live in a slum...
Transcript of Making Presentations That Stick - SPTF · 2018-04-02 · Meet Seema and Harish • Live in a slum...
Swadhaar Saathi Money Management App
Swadhaar FinAccess
C. K. Pralhad
The problem of poverty must force us to innovate”
Introduction: Swadhaar FinAccess
Not for Profit organization working with low income communities in Urban Semi & Urban areas in Mumbai, Gujarat, Rajasthan and Bihar.
Mission Statement
To assist the urban poor, especially women, to enhance their economic capacity by providing financial education and training, and facilitate access to financial services such as savings, insurance and loans, that will enable them to cross the poverty line and meet aspirations for a better future.
2006 Financial Education for
loan clients
2008 •Financial Education for community
•Modules developed after study
•Methodology: Class room &
travelling teams
2012
• Fixed Financial inclusion and Literacy Centers
• Limitation for scale and need for skilled trainers
2015 •Digital Financial Education
• Financial Health workers
•Client Education for RBL Bank
2016 • Development of
Swadhaar Saathi App
• Swadhaar Dost
Field workers app
11 Years Journey
Meet Seema and Harish • Live in a slum communities
• Work in informal sector - variable income
• Saving in informal sources
• Credit surrogate to saving and insurance
• High faith in informal sources of finance
• Bank accounts opened through Jan Dhan
Yojana but dormant
• Credit from micro finance institutions as well
as informal sources
• Low access to insurance and pension
App is for household but the focus is on
women
Financial Literacy leading to Awareness but did not translate to behavior change
Need regular nudges / reminders and linkage to products
The mobile wallet project showed 60% of the women made repayments via mobile wallet.
Inspiration for the App
Features of Swadhaar Saathi Swadhaar Saathi
Money Management Tool for low income households
manage their finances
plan for their goals
link to financial services
Unique Features
• UI simple and with icons
• Regional language
• Audio support through a MASCOT
• Interactive messaging with financial literacy modules
• Assistance by Financial Health Workers who use field workers application
• Facility of call centre through the app
• Data Analytics
Swadhaar Saathi aims
• Management of Money • Access of information
readily and in small bits
• Build financial capability • Ease of access to service • Optimizing adoption
financial product
Goal To build financial capability of low income segments to use financial products and services and optimize their usage.
5,000 ACTIVE USERS IN MUMBAI, GUJARAT, RAJASTHAN AND BIHAR
30% USE APP ACTIVELY (3 TIMES A WEEK)
IMPACT
(Among 170 Pilot users)
Women started using the app independently within a month (initial support was given by our peer educators They felt more empowered when using the app \ “have more control over money” “ initially I had apprehensions, now I trust the app”
IMPACT
111 Insurance 70 Bank accounts 44 Recurring deposits 3 Fixed deposits 44 Sukanya Samruddhi. The linkages to the products were done with
help of trainers / Financial Health Workers.
(Result with 170 pilot users)
OTHER OUTCOMES
Women started independently using the app within a month (initial support was given by SFA team/family members) .
Women feel empowered when using the app. “We have more control on our money. “
After the initial apprehension, they trust the app
WINNER METLIFE INCLUSION PLUS 2017
Pradhan Mantri Jan
Dhan Yojana
- 256 million
Aadhar card –
90% of the
Indians
900 million
mobile connections (GSMA Mobile Economy Report 2013, India) figure is expected to rise to
1.16 billion
Strong infrastructure of digital financial
services is been created
Build capabilities of low income
segment
Opportunity
FINANCIAL EDUCATION PLATFORM CREATING MARKET PLACE FOR PRODUCTS
NEXT STEPS
PROJECT SUPPORTED BY
THANK YOU Web: www.swadhaar.org Email: [email protected]