The Mastercard Foundation Savings Learning Lab - Itad
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The Mastercard Foundation Savings Learning Lab
The Mastercard Foundation works with visionary organisations to provide The Mastercard Foundation Savings Learning Lab is a six-year initiative
greater access to education, skills training and financial services for people living implemented by Itad, in partnership with the SEEP Network. The Lab's aim is to
in poverty, primarily in Africa. As one of the largest private foundations, its work support learning among the Foundation’s savings sector portfolio programmes
is guided by its mission to advance learning and promote financial inclusion to through increased alignment and effectiveness of monitoring and evaluation, and
create an inclusive and equitable world. through the generation, synthesis, curation and dissemination of knowledge.
www.mastercardfdn.org
Itad’s purpose is to provide insight and Itad, as the Learning Partner, will work
ideas to drive more effective use of resources across and with the Foundation's partners,
IN PARTNERSHIP WITH
in international development through monitoring Foundation staff, and with the wider Savings
and evaluating what works, where and why. Sector, to support actionable learning, and will:
Itad provides independent, professional advice
1 Develop and maintain a dynamic
to organisations looking to scrutinise their aid
Learning Framework for The MasterCard
programmes. Itad’s work provides accountability
Foundation Savings Portfolio.
to the ultimate funders of the programmes,
whether they are taxpayers or philanthropists, 2 Synthesise and aggregate learning
as well as learning for the broader international across the portfolio and sector.
community to improve the way that
3 Conduct and/or manage
development is done.
complementary research. WITH SUPPORT FROM
4 Facilitate learning and knowledge
sharing with key audiences.
WHERE THE
LEARNING Morocco
PARTNERS WORK
CARE POWER AFRICA
CARE Aims to increase the financial inclusion of 480,000 direct
Mali
beneficiaries and their households through forming savings
groups, financial education, and linking mature groups to
(4) formal financial institutions in 4 countries in Africa. Senegal
Burkina Faso
Benin
OPM SAVINGS AT THE FRONTIER (SatF)
Nigeria Ethiopia
OXFORD Aims to expand the range of savings products and services available to
POLICY Code
people living in Ghana, Tanzania and Zambia by testing and implementing d’Ivoire Ghana
MANAGEMENT Liberia
business models that sustainably deliver those products and services to
Cameroon
(3) savings groups and users of other informal savings mechanisms.
Uganda Kenya
CRS EXPANDING FINANCIAL INCLUSION (EFI) IN AFRICA
Rwanda
CATHOLIC Aims to expand the depth of poverty outreach of Savings and
RELIEF Burundi
Internal Lending Communities (SILC) so that vulnerable households
SERVICES
experience greater financial inclusion to increase their resilience.
Tanzania
(4)
WSBI MAKING SMALL SCALE SAVINGS WORK
WORLD Aims to establish the viability of low-balance savings accounts and use of customer- Malawi
SAVINGS AND The MasterCard
centric approaches to address barriers faced by low-income individuals and Zambia
RETAIL BANKING Foundation Savings
INSTITUTE households in seven countries in Africa in access, usage and affordability of savings
Learning Partnership
services. It will do so by working with partner banks to increase savings amongst
is a six-year initiative
(8) these people, and to reach scale and sustainability with their low balance accounts.
implemented by Itad,
in partnership with
UNCDF MICROLEAD the SEEP Network.
UNITED Challenges financial service providers (FSPs) to develop, pilot and scale deposit
NATIONS services for low-income, rural populations, particularly women. It works with
CAPITAL
DEVELOPMENT 18 FSPs in ten countries in sub-Saharan Africa (plus three FSPs in Myanmar).
FUND By deploying alternative delivery channels, such as agency banking and digital
financial services, and predominantly working through informal community
groups, MicroLead is helping to build the business case for FSPs to reach
(10) what were previously considered unbankable populations.
(NO. OF COUNTRIES)
CARE OPM
1 2 OXFORD 1
CARE POLICY
CANADA 3 MANAGEMENT
4
3
PROMOTING OPPORTUNITIES FOR 1 COTE D'IVOIRE SAVINGS AT THE FRONTIER 1 GHANA 2
WOMEN'S ECONOMIC EMPOWERMENT 2 ETHIOPIA Savings at the Frontier will identify high potential business 2 ZAMBIA
3 RWANDA 3 TANZANIA
IN AFRICA (POWER AFRICA) models – including the innovative use of technology – and
4 BURUNDI 2015–2021
This four-year project aims to increase the financial inclusion deliver support, in the form of funds, technical assistance
of 480,000 direct beneficiaries and their households by 2013–2017 and monitoring to approximately eight selected financial
LEARNING TO DATE
working across the financial inclusion ladder through forming service providers (FSPs) in the three countries. The FSPs will
LEARNING TO DATE Infographic: Savings at the
savings groups, financial education, and linking mature groups implement and test the business models to deliver financial Frontier Countries in Context
to formal financial institutions. With a strong focus on POWER Africa services to individuals who currently only have access to
empowering women and girls, these savings groups provide rolling profile videos informal ones, thereby establishing effective links between Blog: Can Insights from Informal
Groups help us move from
a platform for additional trainings and community initiatives Participatory Video Research –
users of informal savings mechanisms (ISMs) and the formal access to usage?
on gender equality and can act as a space for women to share Is VSLA methodology adaptable financial system. It will scale access to financial services for
for adolescent girls in Burundi? Blog: From analysis to action:
skills and advice. POWER Africa also engages mobile network at least 250,000 rural and semi-urban households. A robust operationalising learning
operators to pilot ways of increasing access to financial www.carepowerafrica.com monitoring, research, evaluation and learning framework and adaptation in Savings
at the Frontier
services, particularly in hard-to-reach areas. In Ethiopia, will capture insights on what works and what doesn’t in
Linking users of informal financial
the majority of beneficiaries are women and women-headed different contexts. This learning will be constantly fed
households, while in Burundi the project specifically targets KEY LEARNING ? back into programme design to course-correct as needed
services with formal financial
services: A Review of the Evidence
adolescent girls (75% of outreach). In Rwanda, the project is QUESTIONS to achieve the greatest possible impact. Learning in the
working with mature facilitated savings groups, the majority • What is the household impact programme will also contribute to the wider knowledge base
of whom are women, to link them to financial institutions. of formal financial inclusion and on financial inclusion, helping to construct a set of effective,
In Cote d’Ivoire, the project works with men and women in linkage for VSLA members? scalable approaches that open the door to meaningful www.opml.co.uk/projects/
rural and peri-urban areas. • What is the impact of formal financial
financial services for excluded populations around the world. savings-frontier
linkage and VSLA platforms on
business development and growth?
• What is the impact on household
KEY LEARNING QUESTIONS ?
• What are the different segments of users/clients of the informal savings mechanisms
economic conditions when VSLA is and how do they differ from each other?
combined with market engagement
strategies?
• How do the financially excluded and underserved users (e.g. women, young people,
smallholder families and people living in remote areas) of ISMs respond to linkage experiences
• Are VSLAs an appropriate platform and opportunities and how can the mutual value proposition of linkage for ISMs be shared
for adolescent girls in accessing with FSPs?
financial services?
• What can we learn from the SatF supported models on how best to serve the financially
• Do VSLA members have more resilience excluded and underserved?
to withstand drought and/or political
instability than non-VSLA members?
• What are the challenges and opportunities for financial institutions to contribute towards
and manage the formation and acquisition of informal savings mechanisms and how can
• What is the business case for FSPs the mutual value proposition of linkage for FSPs can be shared with ISMs?
to develop and deliver products for
VSLAs and their family members?
1
CRS WSBI 3
1 2
2 WORLD
CATHOLIC SAVINGS AND 4
5
RELIEF RETAIL BANKING
3 INSTITUTE 6 7
SERVICES
8
EXPANDING FINANCIAL INCLUSION IN AFRICA 1 SENEGAL 4 MAKING SMALL SCALE SAVINGS WORK 1 MOROCCO
Expanding Financial Inclusion (EFI) in Africa is a four-year 2 BURKINA FASO Making Small Scale Savings Work builds on a 2008-2016 2 SENEGAL
3 UGANDA 3 MALI
project funded by The MasterCard Foundation whose core ten-country programme aimed at doubling the number of
4 ZAMBIA 4 COTE D'IVOIRE
goal is to expand the depth of poverty outreach of Catholic savings accounts for low-income people at partner banks. 5 NIGERIA
Relief Services’ Savings and Internal Lending Communities 2013–2017 The new programme will test and apply new business models 6 UGANDA
(SILC) to ensure that vulnerable households experience arising from economic analysis around price sensitivity and 7 KENYA 8 TANZANIA
LEARNING TO DATE
greater financial inclusion to improve their resilience. demand, targeted on low-income unbanked segments, aiming 2016–2022
In order to attain a higher-level impact, EFI Africa aims A Sustainable Approach to reduce the incidence of dormancy and inactivity in banks’
To Community-Based
to create approximately 19,000 new SILC groups with Savings in Rwanda customer bases. It will help existing partner banks in three LEARNING TO DATE
over 500,000 members across Burkina Faso, Senegal, African countries (Kenya, Morocco, Uganda) reach scale and
WSBI’s journey in making
Zambia and Uganda. The project has further tested and sustainability with their low balance accounts and support small-scale savings work
refined the sustainable Private Sector Provider (PSP) up to four new West African partner banks to dramatically
fee-for-service model to make it both more pro-poor and increase savings amongst these segments in their countries www.savings-banks.com/press/
sustainable. In Uganda and Zambia, EFI Africa is collaborating www.crs.org/our-work-overseas/ (Cote d'Ivoire, Mali, Nigeria, Senegal). latest-news/Pages
with formal financial institutions to explore the development program-areas/microfinance/
of new financial tools for members via mobile platforms. silc-road/impact
KEY LEARNING ?
QUESTIONS
• What have been the
livelihood and welfare effects
of participation in SILC?
(Drawing on Financial Diaries Photo: Edward Hedley
data from Northern Zambia)
• What has been the extent
of poverty outreach by the
KEY LEARNING QUESTIONS ?
• What are the causes of such a high degree of account inactivity in the target countries
programme and which of the
(and worldwide)? What are the most effective drivers of usage and which innovative
variants adopted by the project
approaches (e.g., apps, gamification and other novel ideas) are most successful in
have been most effective?
stimulating account activity among financially disadvantaged people?
• Which refinements to the
• To what extent do different pricing models stimulate demand for financial services from banks?
PSP model have had the most
impact on the sustainability • Does greater customer centricity (via deeper knowledge of the customer, offering usable, affordable
of the approach? and accessible services, integration of the WSBI/MCF programme into bank strategies, and institutional
and cultural change) lead to customer growth accompanied by more active customer bases?
• Which business models result in sustainable business cases for financially disadvantaged segments?
Photo: Jacques Kabore
UNCDF SEEP
UNITED NATIONS 2
CAPITAL 3
1 4 5
DEVELOPMENT 6
FUND 7
8
9
MICROLEAD 1 LIBERIA
10 The SEEP Network is a global learning network that SEEP is a global learning network
dedicated to creating new and better
MicroLead aims to increase economic growth through 2 BURKINA FASO promotes inclusive financial and market systems, through opportunities for vulnerable populations,
inclusive finance, by providing customer lifetime value 3 GHANA knowledge mobilisation, actionable learning opportunities, especially women and the rural poor,
4 BENIN to participate in markets and improve
to over one million low-income rural people, particularly and strengthened partnerships. SEEP provides the Learning their quality of life. The SEEP Network
5 CAMEROON
women, through properly designed products offered via 6 UGANDA Partnership with a structured platform to capture, share has extensive experience in facilitating
learning and collaboration in Savings-
convenient channels at affordable prices. MicroLead aims 7 RWANDA 9 TANZANIA and advance knowledge through its practitioner networks Led Financial Services. SEEP works with
to contribute towards the achievement of the Sustainable 8 BURUNDI 10 MALAWI and events. a broad spectrum of stakeholders such
as international capacity development
Development Goals (SDGs) through reaching the ‘furthest 2011–2017 organisations, regional and national
As a learning and dissemination partner within The
behind’. In particular, it targets the goal of ending poverty, microfinance networks, global foundations,
MasterCard Foundation Savings Learning Lab, private sector actors, international and
the goal of consumption smoothing for ending hunger, LEARNING TO DATE local NGOs, governmental entities, and
SEEP will lead activities in three main areas:
achieving food security and promoting sustainable research & academic organisations.
2017 MicroLead Partner
agriculture, and the goal of achieving gender equality Workshop
1. Global Savings Groups Conference – Since 2009,
and economic empowerment of all women and girls. SEEP has led the Global Savings Group Conference series. Savings-Led Financial
The global learning event engages a large and diverse Services Working Group
2016 MicroLead Partner
It uses a human-centered design approach to product Workshop community of stakeholders, develops and promotes
development, effects change management throughout its
improved standards of practice, mobilises knowledge,
partners, supports deployment of digital financial services, How to succeed in your
digital journey toolkits
strengthens partnerships and alliances, and creates www.seepnetwork.org
and institutionalises financial education within the partner
opportunities for learning. With support from the
institutions. The initial target was to reach 450,000 new
A Framework for Small Learning Lab, SEEP will host the biannual
depositors; as of December 2016, MicroLead has reached Balance Deposit Mobilization conference in 2018, 2020 and 2022.
over 750,000 active depositors, over 70% of whom are
women and the vast majority live in rural areas. MicroLead Expansion 2. Peer Learning Groups – A Peer Learning Group is an
Programme Mid-term Evaluation action-oriented learning methodology, developed by SEEP,
to address opportunities and challenges in dynamic contexts.
KEY LEARNING QUESTIONS ? www.uncdf.org/microlead/homepage
3. Knowledge Sharing and Dissemination – SEEP will
• How to sustainably serve low-income rural
establish the SG Learning Hub, design and host webinars on
populations, particularly women, with small balance
topics of shared and emerging interest, and convene national
savings accounts? What are the success factors of
stakeholder meetings to support the effective exchange and
different business models for providers willing to
expansion of knowledge across diverse stakeholders.
serve underserved populations, particularly women?
• What products and services best meet the needs
of both FSPs and the unbanked?
• How do financial needs, perceptions and financial
behaviours of each underserved customer segment CONTACT
change as they become more included in the formal James Robinson Emmeline Henderson
sector and/or with their increasing use of alternative Senior Consultant Communications Officer
delivery channels? james.robinson@itad.com emmeline.henderson@itad.com
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