Blog Post: Getting to know you(th): How piloting allowed HFC Bank to sharpen its value proposition for young people
By Corrinne Ngurukie, Save the Children
Measure twice, cut once
YouthSave’s bank partners began creating their youth savings accounts in 2010, with extensive market research that obtained firsthand information about the savings habits, needs, and preferences of young people. But using these data to design the savings accounts was not enough; the resulting product prototypes still had to be “road-tested” in order to confirm that we had correctly a) interpreted the market research, b) translated it into product designs that met youths’ needs, and c) put in place the right marketing, back-office and sales systems, policies, and delivery channels. In three countries – Ghana, Kenya and Nepal – YouthSave’s bank partners did this through time-bound pilots in a limited number of branches. These pilots yielded valuable lessons that ensured the products’ success when they finally rolled out network-wide in 2012.
We are pleased to announce that the YouthSave project has just released its latest quarterly newsletter highlighting recent blog posts, reports, speaking engagements, upcoming events, and other relevant information from YouthSave consortium members and our partners over the last three months. To access this quarter’s newsletter click here.
Highlights from the Newsletter:
YouthSave has been making the rounds and sharing insights, updates and lessons learned with others in the field. Here are a list of recent events and speaking engagements that we have participated in:
By Lex Nowak, New America Foundation
The Center for Social Development (CSD) has recently releaseda research brief titled, “Youth and Their Health in Ghana”. The brief offers baseline data on youth’s health in an effort to expand our knowledge on the impact of savings programs on youth health because, “[a] key aspect of youth savings is the potential impact it could have on youth development”.
CSD examines a number of health factors “critical for young people’s ability to safely transition from adolescence to young adulthood, including health perception, protective factors (including parental connection and parental monitoring), risky health behaviors (including attitude toward sex and HIV prevention), and access to health facilities.”