Short-Term Savings Working Group

The Savings Interest Group brings together thought-leaders, providers, and in-market practitioners to share what is working to spur consumer savings, highlighting innovative products, features, and practices. Participants will discuss key challenges, and present promising efforts and in-market solutions, within a peer learning environment designed to push the industry further towards improving financial health through savings.

For the 2019-2020 year, we will create a particular focus around using behavioral economics tools and techniques to spur savings – both to share what has worked (and needs to scale) and what new research/pilots show as promising solutions.

2019 Goals

  • Showcase innovative products and solutions that are integrating savings into other activities, so as to increase savings behavior and ultimate impact
  • Promote peer learning as participants share impacts of their organizational savings’ efforts, their plans to offer or modify existing products, and the barriers associated with individual savings, from both a provider and consumer lens
  • Share collective insights, and discuss willingness and motivations to explore and invest in, savings products
  • Create a space for sharing current initiatives through Member channels

Member Expectations

  • The Short-Term Savings Interest group will have quarterly meetings (mostly virtually and in person, where possible, especially at events like Emerge and Summit)
  • Members attend Interest Group meetings and contribute to discussions regularly, in particular, share their experiences in providing short-term savings solutions.
  • The interest group is made up of a diverse group of financial service providers as well as other organizations interested in and advancing short-term savings solutions. Non-members may participate in the group by invitation only.
  • Interest group members have an equal voice in contributing to the agenda and discussion.
  • Sponsorship does not elevate a member’s influence on the objectives or output of the working group.