Text Messaging for Financial Behavior Change in Zambia

Researchers: Michael King and Syon Bhanot

Partners: World Bank i2i Grant

Location: Zambia

Sample: 84,000 Natsave Customers

Timeline: 2017 - 2018

Theme: Financial Inclusion and Financial Capabilities

Description:

Working with Natsave, Zambia, this project employs a novel text-messaging-based intervention to: 1) identify the behavioral barriers that lead to low engagement with formal financial services amongst those using the services; and 2) test strategies to help people overcome those barriers to increase engagement and financial security. Additionally, the study provides the first evidence on the impact of conversational, two-way text messaging designed to encourage savings and improve loan repayment behaviors through Q&A capabilities and efforts to enhance trust in formal financial products. The study works with 84,000 Natsave customers and involves both phone surveys and in-person surveys.