Text Messaging for Financial Behaviour Change in Zambia
Researchers: Michael King and Syon Bhanot (Swarthmore College)
Partners: World Bank i2i Grant
Sample: 84,000 Natsave customers
Theme: Financial Inclusion and Financial Capability
Working with Natsave, Zambia, this project employs a novel text-messaging-based intervention to: 1) identify the behavioral barriers that lead to low engagement with formal financial services amongst those using the services; and 2) test strategies to help people overcome those barriers to increase engagement and financial security. Additionally, the study will provide the first evidence on the impact of conversational, two-way text messaging designed to encourage savings and improve loan repayment behaviors through Q&A capabilities and efforts to enhance trust in formal financial products. The study is working with 84,000 Natsave customers and involves both phone surveys and in-person surveys.