Text Messaging for Financial Behaviour Change in Zambia
Michael King and Syon Bhanot (Swarthmore College)
World Bank i2i Grant
84,000 Natsave customers
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.