Development of a savings product for poor youth in urban and rural communities across Nepal

• Mar 22, 2021
• 1 min

Through its Market Insights for Innovation and Design (MI4ID) approach, MSC conducted market research to help YouthSave develop a suitable savings product prototype for low-income youth in urban and rural communities across Nepal.

MSC supported YouthSave through its Market Insights for Innovation and Design (MI4ID) approach, which incorporates principles of behavioral economics and human-centered design. This included research, data analysis, product strategy development, and the development of the product prototype. Based on the product prototype, the Bank of Kathmandu (BoK) launched the “BoK Chetanshil Yuwa Bachat Yojana” (BoK savings plan for conscientious youth) across the bank’s 43 branches in April, 2012. By the start of 2013, it had already created 5,207 youth accounts successfully.