Developing youth-focused savings products for Equity Bank in Kenya
Mar 22, 2021
1 min
Equity Bank intended to increase youth interest and access to savings products in Kenya. MSC worked with Equity Bank to conduct a market research study to understand the financial needs of clients and developed a set of financial products for the potential youth clientele. Since the launch of these products, the bank expanded its youth customer base from 13% (end of 2012) to 47% (end of 2019). Over five years, 83% of youth continued with the bank, 27% used additional products, and the loan sizes borrowed by youth quadrupled from USD 250 to USD 860.
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