Peer Learning Group: Commercial Relationships between Savings Groups and Financial Service Providers

Over the last decade, there has been a proliferation of initiatives to expand access to formal financial services in underserved markets through Savings Groups (SGs). Initiatives to link Savings Groups with Financial Service Providers (FSPs) have resulted in increased access to finance for SG populations as well as new markets and a growth deposits for financial institutions. Several challenges still remain, however, before these efforts can reach scale. Product development, delivery channels, customer engagement, multi-stakeholder partnerships, and evidence on the demand and supply of financial services for SGs remain thin.

FSPs have an important wealth of experience and knowledge but they often lack facilitated spaces for mutual learning with other FSP practitioners during critical moments. This Peer Learning Group focuses on addressing challenges and opportunities faced by FSPs in working with SGs. The Group’s learning questions include-

How can relationships with Savings Groups be developed and maintained in a cost-effective way, especially considering financial capability training, issues of dormancy, and consumer protection?

How can partnerships with the different market actor be explored, developed and maintained in a cost-effective way? How can we better understand the role of frontline staff, agents, mobile network operators, NGOs and others?

This initiative is facilitated by the SEEP Network as part of The MasterCard Foundation Savings Learning Lab— implemented by Itad in collaboration with the SEEP Network.

Organizational Participants