About
Tool to help create a savings pool for emergencies and how to achieve it
Innovation presentation
"Savings is a fundamental and critical behaviour in every individual's financial journey. While some take active steps towards it, some neglect it and others know it is important but don't know what steps to take to move ahead.
The importance is savings is most realized on a rainy day, most likely with the medical emergencies, income loss or other uncertainity. The world learnt this lesson during Covid-19 pandemic as hospitals were full and shops were empty.
It was also a unique time for banking, as people had more liquid cash balance - with limited avenues to spend or invest, holding on their hard-earned money from more uncertainity. It gave a clear view of how emergencies can eat into savings and hence the importance to plan for it."
Uniqueness of the project
"Addresses the most simple but under-rated financial behaviour - savings - especially for those who don't know how to start.
While the importance of creating a savings pool is well understood, most people need to be guided through a slow and steady process that eventually becomes a discipline.
Also, it was launched during Covid-19 pandemic, which created an emergency situation that adversely affected lots of people."
