Improving Financial Health of Low-Income People

The OPTIX project began with a simple goal: improve the financial health of people living on low incomes by ensuring that banks and other institutions have processes and products that are best suited for these customers.

Co-designed by global consulting firm BFA and MetLife Foundation and fiscally sponsored by Rockefeller Philanthropy Advisors (RPA), the project started in 2015 with four partners: SAJIDA Foundation in Bangladesh, Banco W in Colombia, Acreimex in Mexico, and CEP in Vietnam. The OPTIX approach is based on a combination of data analytics, market research, behavioral science, and a thorough understanding of low-income demographics that together lead to more relevant and cost-effective financial products.

Since its inception, OPTIX has seen improvements in both the financial security and financial health of low-income customers, viewed against three key parameters: the degree of financial control customers can exercise; the trust these customers place in their institutions; and the financial resilience these customers now experience.  

During the course of the project, we worked on a total of 20 pathways toward better financial health for customers. Altogether, OPTIX has been able to reach more than 1 million customers in the four countries of operation by developing 12 digital tools and eight product combinations; arranging four fintech partnerships; conducting 119 staff training sessions; and crunching over 220 gigabytes of data.