Easysave (Kenya)
Name of project: Easysave
Project partner: Mobile Ventures
Country: Kenya
Coverage: National
Date began: Nov 2009
Technology used: Mobile payments, mobile-wallet
Services: Micro-savings and micro-loans
Clients: Non-commercial pilot |
About the project
This project is an effort to develop new financial management products, designed to meet the needs of underserved low-income customers across Kenya. This will be tackled through leveraging the established mobile payments and mobile wallet technology to deliver low-cost and flexible microloan and microsaving products.
The piloting phase will learn about how customers interact with the product; customer uptake, default rate, frequency of repayment, savings withdrawal rate. Mobile Commerce Ventures are excited at working with CGAP to develop deep insights into both the viability of this business model and low-income customer borrowing and saving preferences.
Status of project
Customer pilot went live in February 2010. First batch of ~150 customers are actively using both microsavings and have received a microloan. Core focus is now on monitoring and coaching customers through the repayment process.
For more information please write to us at technology@cgap.org.
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