A National Information Campaign Encouraging Financial Technology Use in Ghana

Emma Riley and Abu Shonchoy

No 2206, Working Papers from Florida International University, Department of Economics

Abstract: We utilise high-frequency "interactive voice response (IVR)" messages to encourage adoption of mobile banking technology in Ghana. We randomise 15,000 bank clients equally to receive messages on a) mobile banking encouragement (MB-IVR); b) savings encouragement (Savings-IVR); or c) control (no messages). Analysis using administrative records shows significant impacts of MB-IVR, tripling mobile banking use from 2.4% in the control group, with persisting effects measured at five-month post-intervention period. We see improvements in financial behaviour: The MB-IVR groups are 8% more likely to repay loans on-time, and 11% less likely to travel to the bank. There is no impact of Savings-IVR.

Pages: 51 pages
Date: 2022-05
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