About four years ago, Shakti Foundation for Disadvantaged Women, our partner in Bangladesh, faced multiple cases of misappropriations related to its voluntary savings product. As a result, the senior management team of Shakti decided to withdraw it. They realized the need to strengthen internal controls before offering voluntary savings products that create unpredictable flows of cash. However, the management was unclear and apprehensive about how to offer customer-centric products while managing the associated risks.

This case study charts how Shakti Foundation responded to these challenges through the conceptualization and implementation of appropriate technological interventions. It lists the interventions Shakti undertook, the critical factors behind their success, and the impact on Shakti and its customers.

The case study was developed as part of the Digital Microfinance Project funded by the MetLife Foundation. The project supports select microfinance institutions in Bangladesh to provide digital financial services, especially for savings, to their customers


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