The DSG Vendors and Products tool exists to help savings group actors easily identify the range of digital tools available to fit their digitization needs. It features ten leading DSG technology solutions in a clear and comparative format, including information about their functionalities, costs, requirements, and reach. It also includes descriptions of each solution and links to supporting materials. The tool will be updated regularly as new solutions and data about their usage become available. If you are interested in showcasing your product in our directory, please fill out the Online Content Submission Form.
Introduction to Digital Savings Groups
Digital savings groups (DSGs) are savings group whose procedures, records or transactions are digitized in some way, typically through the use of mobile phones. At the highest level, there are two types of DSG solutions on the market today: digital ledgers and digital wallets. As DSGs evolve, we expect hybrids of these two models to emerge on the market. Digital ledgers will begin adding group and individual wallets, and digital wallets will add more group management, recordkeeping, and personal finance features. Most DSG solutions also have a backend component for data management. To learn more, please review the DSG Glossary: Key Concepts and Terms.
Digital ledgers digitize the operations and recordkeeping of savings groups. They typically replace paper ledgers with smartphone applications (apps) that run on shared group smartphones, and they usually do not eliminate the groups’ cashboxes.
Digital wallets digitize the financial transactions of savings groups, using mobile money instead of cash. They typically require all members to switch from cash to mobile money, using their personal phones for all transactions. Digital wallets eliminate the need for cashboxes but may require groups to continue using paper ledgers for recordkeeping.
Data Management Platform
Digital ledgers and digital wallets offer the ability to automatically collect and manage significant amounts of detailed data on transactions, balances, member performance, and group performance. This may reduce or eliminate the need for manual data collection while giving implementers more detailed and accurate data from their savings groups in real time.
Overview of the Leading DSG Solutions
Leading DSG Solutions
Page was last updated on March 13th, 2023 at 8:10 pm
You can also download the “Digital Savings Groups: Technology Solutions Overview” in PDF format. Please note, however, that this resource was published in 2022 and - unlike the DSG Vendors and Products page - it is not being updated.