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. 

A youth account holder in coastal Kenya discusses what she likes and dislikes about SMATA with a pilot evaluation team member.

By Corrinne Ngurukie and Rani Deshpande, 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.

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: