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Converting Small Change Into Savings
Mobile phones have been a blessing for the unbanked. Services like M-Pesa, which started in Kenya, have allowed millions of people to transfer and save money securely for the first time, and inspired dozens of copy-cat businesses around the world.
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- savings
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March’s Most-Popular Posts on NextBillion
Three posts, each advocating constructive and concrete steps for expanding the umbrella of financial inclusion to even more people, were the most-read articles on NextBillion in March.
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The Right Way to Talk About Money: Ignacio Mas discusses the impact words can have on financial behaviors at the BoP
Words can have a major impact on the way people think and feel about their money, says Ignacio Mas. In this Q&A with Mercy Corps’ Kyla Yeoman, he discusses how financial service providers should take customers’ psychological needs into account when designing products - and how the words used to describe these products can affect the way they’re used.
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Saving for Change: How Small Sums Drive Big Advances in Cambodia
Many rural villagers cannot access financial services from microfinance institutions (MFIs) despite the growth in the sector.
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- Asia Pacific
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PRESS RELEASE: Accion Venture Lab Invests in eMoneyPool
March 4, 2014 – Today Accion announced an investment in digital savings company eMoneyPool (EMP) through its Venture Lab, a $10 million initiative dedicated to providing seed capital and management support to financial inclusion start-ups.
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Ask the Right Question: ideas42 on using behavioral economics for MFI product design
CARD Bank seemed to have a problem increasing uptake on new savings accounts. But when ideas42 dug into the data, they saw that people were opening plenty of new accounts - they just weren’t using them. The lesson: it’s important to ask the right question when solving design problems. Louis Potok uses this case to illustrate how behavioral economics insights can improve product design.
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Playing the Odds on Saving
Americans’ lack of savings has become a crisis. Our confidence that we’ve got enough saved for retirement is at historically low levels, according to the Employee Benefit Research Institute’s annual Retirement Confidence Survey. More than a quarter of Americans have saved less than $1,000 for retirement. Only half of those surveyed say they could definitely find $2,000 if an emergency arose in the next month.
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Crowdfunding, Smartphones and Bitcoin, Oh My…: Seven financial innovation questions that could shape 2014
2013 was a momentous – perhaps even an historic – year for financial innovation and inclusion, and it has left us primed for a fascinating 2014. Here are seven questions raised by some of 2013’s biggest developments that could resonate in the coming year and beyond.
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