Financial Linkages and Savings Groups Digitization Online Course: Cohort 6

Savings Groups (SGs) are community-based financial institutions whose members mobilize and manage their own savings, investing this money in a loan fund from which they can borrow in amounts as small as $5. This approach has proved to be low-cost, highly sustainable, and extremely profitable for the member-owners while achieving significant scale, especially in remote rural areas. It is estimated that SGs are now established in more than 75 countries worldwide, reaching more than 12 million members in over 700,000 groups.

However, SGs are becoming increasingly overcapitalized and require linkages to formal financial institutions and virtual wallets. This is now being accelerated through digital platforms developed in partnership with Financial Technology (FinTech) companies and Mobile Network Operators. The advent of agency banking in most countries introduces another opportunity to the linkage journey. This calls for more strategic engagement with relevant stakeholders in terms of product development, delivery channels, digitizing SG operations and relevant knowledge in savings groups' operational and regulatory environments in order to promote financial inclusion at the last-mile.

Learning Objectives:

  • Expose participants to the historical background and methodological approaches employed by the major implementing organizations in expanding financial inclusion at the last-mile through savings groups.
  • Guiding financial inclusion practitioners through a focused roadmap of financial capability, addressing customer needs, technology-enabled business models and client protection to effectively manage financial linkages with Savings Groups.
  • Introduce participants to the concept and framework of SG linkages.
  • Introduce participants to concepts and emerging practice on the digitizing of Savings Groups.
  • Understanding the emerging models for promoting financial linkages in the context of financial technology.
  • Understanding regulatory issues in the context of financial linkages between savings groups and FSPs (Banks/MFIs/Fintechs/ Saccos).
  • Understanding regulatory (contextual) issues in the digitization of savings groups operations.

Learning Outcomes:

  • Improve your savings groups programs by learning about sound practices and innovations in community-based approaches to financial inclusion and financial linkages around the world.
  • Gain an in-depth understanding of subjects such as product design, governance, networking, and partnership development leading to financial linkages between savings groups and financial service providers such as banks, MFIs, FinTech Companies, and MNOs. 
  • Gain in-depth knowledge of emerging FinTech approaches to financial inclusion through Savings Groups Technologies and regulatory issues.

Target Audience:

Practitioners in financial inclusion sectors, financial institutions (banks, MFIs, cooperatives/SACCOs), MNOs and fintech companies, government departments, regulatory bodies, NGOs, and individuals seeking a career shift/upgrade.

Course Fee: $250

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