Financial Inclusion for Youth and Young Adults: Working with Savings Banks to Double the Number of Savings Accounts for the Poor

In developing countries, youth and young adults make up the largest part of the population. Yet, they are among the least banked. This learning paper focuses on the social and commercial benefits for increasing financial inclusion among youth and young adults. Some efforts have already been made among WSBI ‘doubling savings accounts’ project partners, but deposits are few and small and accounts soon fall dormant.

These conclusions are derived from country case studies, which show progressive demographics in line with stages of development. These case studies are based on market research and featured in this learning paper. WSBI project partners can service youth and young adults and support them in their growth towards adulthood by creating accounts that grow with them. Engagement and dialogue are essential and will create insights into youth and young adults’ values and objectives, which may then be used to develop a product for long-term service growth.