Financial solutions for the newly banked, migrant, DFS initiated population


Migration of poor to urban environments for better and steady wages is quite common in developing countries, India is no exception to this. When migrant workforce move from their towns to bigger cities, they also leave behind their financial support and access to money.

Pensaar Design carried out in-depth qualitative research of newly banked, migrant and DFS initiated population across 5 cities in India to deeply understand how migrants handled their money. Their attitude and behaviour to earning money, spending it and savings.

We synthesised the research to identify opportunity areas for inclusion driven solutions that could be rolled out for greater impact. We co-created with the Dvara team to define the right problem to solve and conceptualised to arrive at ideas to take forward.

We discovered an interesting overlap of opportunities and pain points with a completely different segment. The working millennials had different challenges but had the same opportunity of developing a habit of saving and understanding which financial instruments to use to save their money wisely. Our solution juxtaposed solving for both th emigrant workforce with that of  the working millennials!

Rapid prototyping and market testing allowed us to test behaviours and get real time feedback on key concepts, arming us with strong insights on how to initiate and sustain participation amongst the target  audience.