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Text Messaging for Financial Behaviour Change in Zambia

• Researchers:

  • Michael King and Syon Bhanot (Swarthmore College)

• Partners:

  • World Bank i2i Grant

• Location:

  • Zambia

• Sample:

  • 84,000 Natsave customers

• Timeline:

  • 2017-2018

• Theme:

  • Financial Inclusion and Financial Capability

• Description:

  • 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 provides 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 worked with 84,000 Natsave customers and involved both phone surveys and in-person surveys.