Evaluation
In Kenya, researchers partnered with a telecom operator to evaluate the impact of a commitment savings account, called the “High Hopes” Lock-Savings Account, on account usage, savings and loans, and school enrollment. The study found that many parents used the accounts–usage rates increased by about 25 percentage points–and that among those who took up the account, total financial savings increased by three to four times. Parents who saved were also 18-24 percentage points more likely to enroll their children in high school. However, the results were nearly the same for a more conventional mobile savings account that did not offer the commitment bonus, suggesting that easy access to a means of saving, even absent behavioral incentives, was enough to affect parents’ decisions.