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Why Low-Income Families Don’t Send Their Children to College. Hint: It’s Not Always About Money.
Household income is not the only limiting factor as to why children of low to upper-low income families do not attend or save for university. Significant behavioral reasons are also involved, and ESCALA, which helps families save for higher education, worked with BFA’s customer insights team to identify and develop a plan to help overcome a few of them.
- Categories
- Education, Financial Inclusion
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How SAJIDA Foundation Nearly Doubled Customer Uptake of Savings Accounts
Astha, a term deposit account, allows SAJIDA Foundation members in Bangladesh to save toward a purchase or financial goal. Through the OPTIX project, BFA conducted data analytics and client research with SAJIDA and eventually redesigned the accounts. After rolling out the new features, the foundation saw a 97 percent increase in accounts opened and 59 percent more mobilization of savings.
- Categories
- Financial Inclusion
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Two-Sided Mobile Platform Creates ‘Network Effect’ to Help Patients, Health Clinics
The private health sector, where a large percentage of people in developing countries seek care, is fragmented and marked by poor quality and high prices. Two interlinked programs conceived by a group in the Netherlands – M-TIBA and the Medical Credit Fund – are attempting to address this problem at large scale. Both have achieved remarkable growth within a short period.
- Categories
- Health Care, Technology
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Surviving a Pandemic: How ‘Economic Training’ Helps Families Live Beyond HIV/AIDS
Millions of households are struggling to support children affected by HIV/AIDS. A new approach seeks to ease their burden by integrating economic strengthening activities into programs that already serve orphans and vulnerable children and their extended families. It involves training practitioners with new skill sets, so they in turn can help others develop financial independence and resilience.
- Categories
- Health Care
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Dollar by Dollar or Goat by Goat: How Financial Health Translates Across Oceans
The Center for Financial Services Innovation, in partnership with the Center for Financial Inclusion at Accion and funded by the Bill & Melinda Gates Foundation, explored how a U.S.-oriented financial health framework could translate into a developing world context. They discovered that the concept of financial health resonates just as strongly in lower-income countries as it does in the United States.
- Categories
- Financial Inclusion
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The Hidden Cost of Digital Convenience
Technology has the potential to reduce costs and provide added financial benefits to poor clients, but a new paper discusses a downside to digitizing group microfinance transactions; namely, a reduction in group cohesion and sensitivity to transaction fees. Innovations for Poverty Action and others are partnering with product designers and microfinance groups to overcome these challenges.
- Categories
- Financial Inclusion
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Common Cents Report: Behavioral Interventions Helping Americans Save More
The report details findings from seven completed behavioral intervention programs and ongoing research begun in 2016. The work is part of Common Cent Lab’s three-year effort to improve the financial well being for 1.8 million low-to-moderate income (LMI) households in America.
- Categories
- Financial Inclusion
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Helping Microfinance Clients to Save: Are Incentives a Solution?
La Ceiba is a microfinance institution that serves low-income clients in rural Honduras, where the combination of distance, cost and knowledge gaps discourages clients from opening and maintaining a savings account. The MFI decided to leverage small incentives and special training to address those challenges; here's how they did it and what they learned along the way.
- Categories
- Financial Inclusion
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