Case Study

Bank of Baroda, India

Leverage women banking agents as a trusted and reliable touchpoint to support activation and engagement of women customers.

The HER Economy Starts with Financial Inclusion

Financial inclusion is more than just owning a savings or mobile money account. It is ensuring every woman has the knowledge and confidence to use responsibly delivered, thoughtfully designed, digital financial products and that she has the appropriate technology to access them.

Insight

Jan Dhan Women customers are a large & growing customer base for the bank. But despite being transaction active, they are not actively saving at the bank.

Perception

Women do not perceive
bank as a place to save.

Not for Small Savings

Women don’t
consider banks as a place to save “small” amounts.

Inconvenient

Women do not consider
saving with the bank to be convenient and are not aware of their local Banking Correspondent (BC).

Inertia

Women use other means of
saving out of habit.

Action

Drive ownership and knowledge of account to increase confidence and skills for women to conduct transactions.

Reach and Welcome Her

Targeted communications and outreach that welcomes women customers and provides consistent reminders to help
them save through multiple touch points.

Make Savings at the Bank Relatable and
Rewarding

A small savings scheme
called Jan Dhan Plus which nudges women to make 5 deposits to help them become active savers and prequalifies them for micro-credit based on
savings behavior.

Develop BC Network to Engage Her

Optimize the performance of the BC channel and build gender diversity.

Impact

Jan Dhan Women customers are a large & growing customer base for the bank. But despite being transaction active, they are not actively saving at the bank.

Driving Savings Behavior

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Business Value

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BC Channel

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