This toolkit offers practical guidance to financial service providers (FSP) which are already providing or intend to provide formal financial services, including digital financial services (DFS), to savings groups. Insights and lessons offered in this toolkit are based on the experiences of six FSPs, which are UNCDF’s MicroLead partners in Benin, Burkina Faso, Ghana, Malawi, and Tanzania. The toolkit is organized into five chapters: 1) Introduction; 2) Business opportunities and savings groups’ linkages models; 3) DFSs; 4) Business case parameters and analysis;  and 5) A step-by-step guide for FSPs. The toolkit explores various technological solutions deployed to link FSPs and savings groups; offers the value proposition of using digital technologies to enable savings groups’ linkages; and presents key considerations for services that may be digitized, such as customer onboarding, group transaction records, financial transactions, account information, and consumer empowerment. The toolkit emphasizes that FSPs need to adjust their business models, operational processes, and products and services to become more accessible and convenient to savings groups members, the majority of whom are women and low-income earners living in rural or peri-urban areas. 

FSP directors, managers, and financial officers will find this toolkit helpful. Savings group-facilitating non-governmental organizations, FinTechs, governments, and donors can also benefit from this toolkit to understand the factors that FSP should consider as they build their savings groups’ linkages.

Leave a Reply

View all comments

Related Resources

Read
Research
Digital Payments Digital Recordkeeping Digitization Benefits Digitization Risks & Barriers
Research
Digital Payments Digital Recordkeeping Digitization Benefits Digitization Risks & Barriers

Unleashing the Potential of Digital Saving Groups to Build Financial Resilience in Rwanda

By Yi Nancy Liu & Emile Ndayambaje
UNCDF
2022

Unleashing the Potential of Digital Saving Groups to Build Financial Resilience in Rwanda

This case study examines two digital savings group solutions – Mvend and SAVE – promoted within UNCDF’s REFAD program in Rwanda. These solutions were adopted by REFAD partners to expand financial inclusion and improve resilience in refugee camps and host communities in Rwanda. The case study discusses some of the successes, enablers, and impediments on […]
Read
Tool
Consumer Protection Data Privacy & Security digital divide Digital Identity
Tool
Consumer Protection Data Privacy & Security digital divide Digital Identity

Global Digital Compact

Office of the UN Secretary General’s Special Envoy on Technology
2023

Global Digital Compact

In September 2021, the Secretary General of the United Nations released a report Our Common Agenda, which included a proposed Global Digital Compact to be agreed upon at the Summit of the Future in September 2024. This website includes information about the Compact, which is expected to “outline shared principles for an open, free and […]