Financial Inclusion Roundup: Saving with Texts, Resilience, & Financial Trust

  • Juntos set out to discover if something as simple as a text message could help lift people out of poverty. Carmen Hernandez of Dallas, Texas, started with $300 in savings; after using the company’s mobile savings app for one year, she had saved almost $5000—8% of her household’s income.
  • Innotribe also dug into the role of trust in financial services with a white paper on Millennial perceptions of finance. Though Millennials tend to be less trusting of other people, they place more trust than other generations in technology, networks, and social causes.
    Data from Innotribe on Millennial trust and financial services
  • How do low-income households recover from economic crises? CGAP explores household resilience, documenting financial strategies of women in Burkina Faso.
  • MicroSave conducted a survey of digital financial services customers, revealing the critical issues that undermine trust in those services. “The most common transaction problem faced by active account holders has been for their agent’s mobile network to be down,” says one respondent.
  • Read how Kalpana Moharana, a 24-year-old woman from the Indian state of Odisha, went from college drop-out to successful artist and entrepreneur.
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