Background: Mobile money has revolutionized the financial landscape in the developing world. Innovative products like Tigo Money and Safaricom's MPESA have granted a simple, accessible tool to increase financial inclusion among previously unbanked populations. With the spread of these platforms, numerous add-on technologies have emerged to expand the product set from pure transfer services to savings, bill payments, credit, among others. However while the mobile platform promotes rapid scale, the depth of the expansion is often underwhelming, with rural users often failing to capitalize on the new opportunities or fully understand the risks inherent to new products.
Scope: Financial literacy and training are paramount to disseminating that information, but often carry a high cost to implement well. Busara worked with a major mobile network operator, mobile curriculum developers, and financial sector specialists to build a behaviorally informed financial literacy training program on a mobile platform. Busara built and tested solutions to improve user uptake and long-term savings and borrowing behavior after engaging with the behaviorally-informed platform.