Existing financial tools do not adequately reach the world’s poor due to barriers such as Infrastructure, cost, distance, regulatory constraints and inflexible product offerings. Contrary to popular belief; poor families actually save, borrow, lend and prepare for rainy days. They use financial tools mainly linked to informal networks and family ties.
Money management is crucial for this group due to the low, irregular and unreliable income so as to facilitate savings, streamlining of cash flows and accumulation of lump sums.
The major challenge is a knowledge gap on the various products offered by our financial institutions and their implications on the customer. We demystify and compare banking products for our customers so as to empower them to maximize opportunities factoring in the various price offerings.