The Human Account is led, created and developed by Dalberg with Rockefeller Philanthropy Advisors, and funded by the Bill & Melinda Gates Foundation.

 

Local partners are Lagos Business School in Nigeria, Ashoka University in India, not-for-profit development finance company, Karandaaz in Pakistan, and research and advisory firm, Busara Center for Behavioral Economics in Kenya.

Providers

18% of India | 216 million people

traditional, independent, responsible

Click below to learn more:

Watch Suman's

Short Documentary

SUMAN'S STORY

Meet Suman

 

“I just want stability in my life. This means a better job, education for my children, and savings if there are funds left over.”

Suman is a 36-year-old man who recently lost his job. He has three daughters who attend private tuition classes as the public school has recently shut down. He is waiting for the new school to open to get them re-admitted. He has studied till 12th grade and left school to support his family. He used to work as a supervisor at a local hardware store for a few months and earned ₹ 10,000 rupees per month. Before that, he was working in Maharashtra as a migrant laborer. He is not able to make ends meet for his household expenses and often takes small loans from a kirana store, informal money lenders, and friends. Suman aspires to have a stable job. He wants to build his savings so as to invest in his children’s education. He is already saving for marriage of his eldest daughter who is 10 years old. He is not trusting of his community, and makes financial decisions himself.

What type of financial support is currently Suman seeking out to meet his future financial aspirations?

 

SEGMENT OVERVIEW

 

Providers,

by the numbers

Like Suman, Providers are predominantly male farmers of average socioeconomic rank (SES) who are heads of the household. Approximately 216 million (18% of the Indian population) fall in this segment. 

Providers

India Average

GENDER (MALE)

87%

53%

AGE (45+)

48%

18%

SOCIOECONOMIC (SES 3-4)

57%

54%

HIGH INCOME VOLATILITY

71%

53%

Because their income volatility is somewhat high, Providers are careful around spending impulsively and prefer certainty over risk. They choose to rely on their own resources in an emergency and are more resilient.

SAVINGS BEHAVIOR & ATTITUDES

Providers are frequent savers of money. They turn to formal banks in good times and prioritize saving for family expenses. They have low risk appetite and preference for routine over novelty.

SAVINGS ACCOUNTS

They exhibit lower savings behavior through informal group channels due to their social isolation, and have a low uptake of mobile money due to low access to smartphones.

BORROWING BEHAVIOR & ATTITUDES

Providers tend to borrow money at the same frequency as the national average and perceive their financial dependability to be similar to the national average.

BORROWING ACCOUNTS

Providers are the least likely of all segments to use mobile borrowing due to low access to smartphones. They also tend to infrequently borrow from groups.

Explore our complete set of findings:

Financial Behavior & Attitudes

Providers

India Average

 

DESIGN OPPORTUNITIES

How might we create products and services for Providers that...

Mimic Traditional Saving Tools

Leverage traditional, authoritarian language within simple saving mechanisms

Build Trust Using Messaging

Leverage their familiarity with basic phones to offer phone-based assistance

Set Up Deliberate Savings Options

Integrate goal-based mechanisms that help them save towards specific needs such as children’s education or marriage

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