US-based financial data analyse firm Cignifi and Brussels-based World Savings and Retail Banking Institute (WSBI) have confirmed that they are partnering with mobile operator Airtel Ghana to test a savings product targeting ‘underserved and dormant savers’. According to a Cignifi press release, tests staged in conjunction with WSBI last year ‘showed a correlation between mobile phone habits and banking behaviour … and presented us with an opportunity to develop a mobile savings product specifically designed to help banks engage with and grow their customer base’. The product is set to be tested on Airtel Ghana’s mobile money platform in a joint venture with WSBI member HFC Bank Ghana. It will accept small payments and enable customers to use Airtel’s network of mobile money agents to make deposits and withdrawals without needing to visit a bank branch. Lucy Quist, managing director of Airtel Ghana, said of the partnership: ‘Our common aim is to provide secure connections and tailor-made value propositions.’
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