Banking Sector Approaches to Customer Engagement and Capability

Financial institutions are leveraging innovation, new technology, social networks, and other tools that inform and engage customers. In doing so, banks are driving greater use of products and increasing consumer confidence.

Banking Sector Approaches to Customer Engagement and Capability explores how financial institutions are leveraging innovation, new technology, social networks, and other tools that inform and engage customers. This brief builds on the belief that good product design builds the financial capability of customers. The research captures a number of successful models, including:

  • RBL offering unsecured loans that allow customers to build up a credit score for the first time in India
  • Standard Bank leveraging existing informal group savings culture combined with a lottery to incentivize and reward savings activity in South Africa,
  • A small cooperative bank “rounding up” loan repayments to create an auto-saving mechanism among credit recipients in Mexico.

This brief is part of the Mainstreaming Financial Inclusion: Best Practices initiative which aims to facilitate learning and action on how mainstream financial institutions around the world can reach underserved populations with quality financial services. The project is completed in partnership with the Institute of International Finance (IIF), with support from MetLife Foundation.

 

 

 

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November 1, 2018 | Washington, DC

Getting Inclusion Right Symposium

In honor of CFI’s 10th anniversary, we are convening distinguished thinkers and practitioners for a day of discussion and debate around the theme Getting Inclusion Right.

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