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SAVINGS MOBILIZATION STRATEGIES: EXPERIENCES FROM THE FIELD  Training on Expansion Strategies September 13, 2011 RBAP Bldg...
SAVINGS MOBILIZATION STRATEGIES <ul><li>ATM & Cash Cards </li></ul><ul><li>Tiered Interest Rates </li></ul><ul><li>Lotteri...
ATMs & Cash Cards <ul><li>Card Bank Matapat Product  </li></ul><ul><li>-  ATM card attractive because of accessibility </l...
TIERED INTEREST RATE STUCTURE <ul><li>Tiered Interest rate structure </li></ul><ul><ul><li>Minimum balance to earn interes...
LOTTERIES & RAFFLES <ul><ul><li>Should reinforce savings discipline and focus on increasing deposit balances </li></ul></u...
PRIZES & REWARDS <ul><ul><li>Focus on keeping savings longer and maintaining higher balances </li></ul></ul><ul><ul><ul><l...
SAVINGS BOXES <ul><ul><li>Simple locked box offered to small clients </li></ul></ul><ul><ul><li>Can reduce costs </li></ul...
SMS BANKING <ul><li>SMS Reminders are effective </li></ul><ul><ul><li>IPA studies for contractual savings </li></ul></ul><...
STAFF INCENTIVES <ul><ul><li>Banco Caja Social </li></ul></ul><ul><ul><li>Every six months - award for best national branc...
CONTRACTUAL SAVINGS <ul><li>Contractual Savings </li></ul><ul><ul><li>Save for School, Save for Christmas, Save for a Goal...
Steps for Offering Savings <ul><li>Infrastructure Assessment </li></ul><ul><li>Market Analysis </li></ul><ul><li>Product D...
Questions?
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Savings mobilization strategies

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Savings mobilization strategies

  1. 1. SAVINGS MOBILIZATION STRATEGIES: EXPERIENCES FROM THE FIELD Training on Expansion Strategies September 13, 2011 RBAP Bldg, Intramuros
  2. 2. SAVINGS MOBILIZATION STRATEGIES <ul><li>ATM & Cash Cards </li></ul><ul><li>Tiered Interest Rates </li></ul><ul><li>Lotteries & Raffles </li></ul><ul><li>Prizes & Awards </li></ul><ul><li>Savings Boxes </li></ul><ul><li>SMS Banking </li></ul><ul><li>Incentives for Branches & Staff </li></ul><ul><li>Contractual Savings </li></ul>
  3. 3. ATMs & Cash Cards <ul><li>Card Bank Matapat Product </li></ul><ul><li>- ATM card attractive because of accessibility </li></ul><ul><li>- Lowered opening bal to P100 </li></ul><ul><li>Katipunan Cash Card </li></ul><ul><li>Issued by BDO </li></ul><ul><li>RB FaceCard </li></ul><ul><li>- Issued by GXI </li></ul>
  4. 4. TIERED INTEREST RATE STUCTURE <ul><li>Tiered Interest rate structure </li></ul><ul><ul><li>Minimum balance to earn interest </li></ul></ul><ul><ul><ul><li>Many rural banks </li></ul></ul></ul><ul><ul><ul><li>BPI small value savings product </li></ul></ul></ul><ul><ul><ul><ul><li>P200 to open an ATM account </li></ul></ul></ul></ul><ul><ul><ul><ul><li>P500 to earn interest </li></ul></ul></ul></ul><ul><ul><ul><li>BanKO savings product </li></ul></ul></ul><ul><ul><li>Higher interest for higher ADBs </li></ul></ul><ul><ul><ul><li>BRI SIMPEDES Savings Product </li></ul></ul></ul>
  5. 5. LOTTERIES & RAFFLES <ul><ul><li>Should reinforce savings discipline and focus on increasing deposit balances </li></ul></ul><ul><ul><ul><li>Rural Banks in Philippines </li></ul></ul></ul><ul><ul><ul><ul><li>“ Double Your Balance” </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Up to P5,000 </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Coupons given for each deposit over P500 and for each P1,000 in ADB over P3,000 </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Coupons for every P1,000 additional ADB each month </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Raffle coupon for every P15,000 </li></ul></ul></ul></ul>
  6. 6. PRIZES & REWARDS <ul><ul><li>Focus on keeping savings longer and maintaining higher balances </li></ul></ul><ul><ul><ul><li>Rural bank in the Philippines </li></ul></ul></ul><ul><ul><ul><ul><li>School Savings Program </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Higher rates for younger savers </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Prizes given at the end of year for those with balances over P1,000 and P5,000 </li></ul></ul></ul></ul><ul><ul><ul><ul><li>Chance for scholarship </li></ul></ul></ul></ul>
  7. 7. SAVINGS BOXES <ul><ul><li>Simple locked box offered to small clients </li></ul></ul><ul><ul><li>Can reduce costs </li></ul></ul><ul><ul><li>Builds on piggy bank concept </li></ul></ul><ul><ul><li>Encourages people to save regularly </li></ul></ul>
  8. 8. SMS BANKING <ul><li>SMS Reminders are effective </li></ul><ul><ul><li>IPA studies for contractual savings </li></ul></ul><ul><ul><li>SMS Pickup requests - Card Bank </li></ul></ul><ul><ul><li>SMS Information Systems – MyClick Technologies </li></ul></ul><ul><ul><li>SMS Banking Systems – InfoServe </li></ul></ul><ul><ul><li>RB FaceCard – automatic SMS alerts for withdrawals </li></ul></ul>
  9. 9. STAFF INCENTIVES <ul><ul><li>Banco Caja Social </li></ul></ul><ul><ul><li>Every six months - award for best national branch </li></ul></ul><ul><ul><li>55% of the points are related to savings mobilization </li></ul></ul><ul><ul><li>“ best teller” </li></ul></ul><ul><ul><li>Rural bank </li></ul></ul><ul><ul><li>Award given to staff with the most amount of savings collected (# and amount) </li></ul></ul><ul><ul><li>75% based on ADB of new accounts opened </li></ul></ul><ul><ul><li>25% based on # of new accounts opened </li></ul></ul><ul><ul><li>best officer gets P1,000 bonus </li></ul></ul>
  10. 10. CONTRACTUAL SAVINGS <ul><li>Contractual Savings </li></ul><ul><ul><li>Save for School, Save for Christmas, Save for a Goal, Partner Savings Plan </li></ul></ul><ul><ul><li>Save a fixed amount every week/month </li></ul></ul><ul><ul><li>Withdrawal is restricted to end of periods </li></ul></ul><ul><ul><li>Interest is between savings rate and time deposit rate </li></ul></ul><ul><ul><li>Penalties for early withdrawal or closure </li></ul></ul>
  11. 11. Steps for Offering Savings <ul><li>Infrastructure Assessment </li></ul><ul><li>Market Analysis </li></ul><ul><li>Product Design </li></ul><ul><li>Projections & Targets </li></ul><ul><li>Product Testing & Launch </li></ul><ul><li>Marketing </li></ul><ul><li>Performance Monitoring & Cost Analysis </li></ul>
  12. 12. Questions?

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