For over 30 years, microfinance institutions (MFIs) have been successfully serving some of the poor and poorest people around the world, primarily with credit products. Generally, however, MFIs struggle to successfully add savings services to their portfolio of financial products. Whether offering savings as a way to provide additional valued financial services to clients or to have a reliable source of funding, or both, MFIs must learn to bring together people and technology and build the capacity and infrastructure to grow this business. In this article, we explore how market research, product design and testing, marketing, technology, alternative delivery channels, and an MFI's ability to transform from a credit-led institution to a market-led institution can assist an MFI to reach poor savers with products that are accessible, affordable and secure.

Beshouri, C., Chaia, A., Cobert, B. and Gravrak, J. (2010) Banking on Mobile to Deliver Financial Services to the Poor [online], McKinsey & Company. Available from: http://www.mckinsey.com/clientservice/Social_Sector/our_practices/Economic_Development/Knowledge_Highlights/~/media/Reports/SSO/GFI_v13_complete.ashx [accessed 5 May 2011]. http://www.mckinsey.com/clientservice/Social_Sector/our_practices/Economic_Development/Knowledge_Highlights/~/media/Reports/SSO/GFI_v13_complete.ashx

Glisovic, J., El-Zoghbi, M. and Forster, S. (2010) Advancing Savings Services: Resource Guide for Funders [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.48183/AdvancingSavings_Draft_TG.pdf [accessed 13 January 2011]. http://www.cgap.org/gm/document-1.9.48183/AdvancingSavings_Draft_TG.pdf

Ivatury, G. and Mas, I. (2008) The Early Experience with Branchless Banking [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.2640/FN46.pdf [accessed 13 January 2011]. http://www.cgap.org/gm/document-1.9.2640/FN46.pdf

Mas, I. (2010) Low Cost Banking: How Retail Stores and Mobile Phones Can Transform Access to Finance [online], World Bank, Washington, DC. Available from: http://blogs.worldbank.org/allaboutfinance/node/611 [accessed 5 April 2011]. http://blogs.worldbank.org/allaboutfinance/node/611

Parrott, L. (2006) Do Microfinance Institutions Really Need to Worry About Their Brand? [online], Microsave, Lucknow, India. Available from: http://www.brandscape.co.ke/index.php/resources/doc_download/5-do-mfis-really-needto-worry-about-their-brands-.html [accessed 13 January 2011]. http://www.brandscape.co.ke/index.php/resources/doc_download/5-do-mfis-really-needto-worry-about-their-brands-.html

Pickens, M. (2009) Window on the Unbanked: Mobile Money in the Philippines [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.41163/BR_Mobile_Money_Philippines.pdf [accessed 5 April 2011]. http://www.cgap.org/gm/document-1.9.41163/BR_Mobile_Money_Philippines.pdf

Rosenberg, J. (2010) Is there an app to track M-PESA's growth? [online], CGAP, Washington, DC. Available from: http://technology.cgap.org/2010/08/18/is-there-an-app-to-track-m-pesas-growth-headlines-for-aug-18-2010/ [accessed 5 April 2011]. http://technology.cgap.org/2010/08/18/is-there-an-app-to-track-m-pesas-growth-headlines-for-aug-18-2010/

World Bank (2009) Financial Access 2009 [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.38735/FA2009.pdf [accessed 13 February 2011]. http://www.cgap.org/gm/document-1.9.38735/FA2009.pdf

Beshouri, C., Chaia, A., Cobert, B. and Gravrak, J. (2010) Banking on Mobile to Deliver Financial Services to the Poor [online], McKinsey & Company. Available from: http://www.mckinsey.com/clientservice/Social_Sector/our_practices/Economic_Development/Knowledge_Highlights/~/media/Reports/SSO/GFI_v13_complete.ashx [accessed 5 May 2011]. http://www.mckinsey.com/clientservice/Social_Sector/our_practices/Economic_Development/Knowledge_Highlights/~/media/Reports/SSO/GFI_v13_complete.ashx

Glisovic, J., El-Zoghbi, M. and Forster, S. (2010) Advancing Savings Services: Resource Guide for Funders [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.48183/AdvancingSavings_Draft_TG.pdf [accessed 13 January 2011]. http://www.cgap.org/gm/document-1.9.48183/AdvancingSavings_Draft_TG.pdf

Ivatury, G. and Mas, I. (2008) The Early Experience with Branchless Banking [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.2640/FN46.pdf [accessed 13 January 2011]. http://www.cgap.org/gm/document-1.9.2640/FN46.pdf

Mas, I. (2010) Low Cost Banking: How Retail Stores and Mobile Phones Can Transform Access to Finance [online], World Bank, Washington, DC. Available from: http://blogs.worldbank.org/allaboutfinance/node/611 [accessed 5 April 2011]. http://blogs.worldbank.org/allaboutfinance/node/611

Parrott, L. (2006) Do Microfinance Institutions Really Need to Worry About Their Brand? [online], Microsave, Lucknow, India. Available from: http://www.brandscape.co.ke/index.php/resources/doc_download/5-do-mfis-really-needto-worry-about-their-brands-.html [accessed 13 January 2011]. http://www.brandscape.co.ke/index.php/resources/doc_download/5-do-mfis-really-needto-worry-about-their-brands-.html

Pickens, M. (2009) Window on the Unbanked: Mobile Money in the Philippines [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.41163/BR_Mobile_Money_Philippines.pdf [accessed 5 April 2011]. http://www.cgap.org/gm/document-1.9.41163/BR_Mobile_Money_Philippines.pdf

Rosenberg, J. (2010) Is there an app to track M-PESA's growth? [online], CGAP, Washington, DC. Available from: http://technology.cgap.org/2010/08/18/is-there-an-app-to-track-m-pesas-growth-headlines-for-aug-18-2010/ [accessed 5 April 2011]. http://technology.cgap.org/2010/08/18/is-there-an-app-to-track-m-pesas-growth-headlines-for-aug-18-2010/

World Bank (2009) Financial Access 2009 [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.38735/FA2009.pdf [accessed 13 February 2011]. http://www.cgap.org/gm/document-1.9.38735/FA2009.pdf

Beshouri, C., Chaia, A., Cobert, B. and Gravrak, J. (2010) Banking on Mobile to Deliver Financial Services to the Poor [online], McKinsey & Company. Available from: http://www.mckinsey.com/clientservice/Social_Sector/our_practices/Economic_Development/Knowledge_Highlights/~/media/Reports/SSO/GFI_v13_complete.ashx [accessed 5 May 2011]. http://www.mckinsey.com/clientservice/Social_Sector/our_practices/Economic_Development/Knowledge_Highlights/~/media/Reports/SSO/GFI_v13_complete.ashx

Glisovic, J., El-Zoghbi, M. and Forster, S. (2010) Advancing Savings Services: Resource Guide for Funders [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.48183/AdvancingSavings_Draft_TG.pdf [accessed 13 January 2011]. http://www.cgap.org/gm/document-1.9.48183/AdvancingSavings_Draft_TG.pdf

Ivatury, G. and Mas, I. (2008) The Early Experience with Branchless Banking [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.2640/FN46.pdf [accessed 13 January 2011]. http://www.cgap.org/gm/document-1.9.2640/FN46.pdf

Mas, I. (2010) Low Cost Banking: How Retail Stores and Mobile Phones Can Transform Access to Finance [online], World Bank, Washington, DC. Available from: http://blogs.worldbank.org/allaboutfinance/node/611 [accessed 5 April 2011]. http://blogs.worldbank.org/allaboutfinance/node/611

Parrott, L. (2006) Do Microfinance Institutions Really Need to Worry About Their Brand? [online], Microsave, Lucknow, India. Available from: http://www.brandscape.co.ke/index.php/resources/doc_download/5-do-mfis-really-needto-worry-about-their-brands-.html [accessed 13 January 2011]. http://www.brandscape.co.ke/index.php/resources/doc_download/5-do-mfis-really-needto-worry-about-their-brands-.html

Pickens, M. (2009) Window on the Unbanked: Mobile Money in the Philippines [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.41163/BR_Mobile_Money_Philippines.pdf [accessed 5 April 2011]. http://www.cgap.org/gm/document-1.9.41163/BR_Mobile_Money_Philippines.pdf

Rosenberg, J. (2010) Is there an app to track M-PESA's growth? [online], CGAP, Washington, DC. Available from: http://technology.cgap.org/2010/08/18/is-there-an-app-to-track-m-pesas-growth-headlines-for-aug-18-2010/ [accessed 5 April 2011]. http://technology.cgap.org/2010/08/18/is-there-an-app-to-track-m-pesas-growth-headlines-for-aug-18-2010/

World Bank (2009) Financial Access 2009 [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.38735/FA2009.pdf [accessed 13 February 2011]. http://www.cgap.org/gm/document-1.9.38735/FA2009.pdf

Beshouri, C., Chaia, A., Cobert, B. and Gravrak, J. (2010) Banking on Mobile to Deliver Financial Services to the Poor [online], McKinsey & Company. Available from: http://www.mckinsey.com/clientservice/Social_Sector/our_practices/Economic_Development/Knowledge_Highlights/~/media/Reports/SSO/GFI_v13_complete.ashx [accessed 5 May 2011]. http://www.mckinsey.com/clientservice/Social_Sector/our_practices/Economic_Development/Knowledge_Highlights/~/media/Reports/SSO/GFI_v13_complete.ashx

Glisovic, J., El-Zoghbi, M. and Forster, S. (2010) Advancing Savings Services: Resource Guide for Funders [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.48183/AdvancingSavings_Draft_TG.pdf [accessed 13 January 2011]. http://www.cgap.org/gm/document-1.9.48183/AdvancingSavings_Draft_TG.pdf

Ivatury, G. and Mas, I. (2008) The Early Experience with Branchless Banking [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.2640/FN46.pdf [accessed 13 January 2011]. http://www.cgap.org/gm/document-1.9.2640/FN46.pdf

Mas, I. (2010) Low Cost Banking: How Retail Stores and Mobile Phones Can Transform Access to Finance [online], World Bank, Washington, DC. Available from: http://blogs.worldbank.org/allaboutfinance/node/611 [accessed 5 April 2011]. http://blogs.worldbank.org/allaboutfinance/node/611

Parrott, L. (2006) Do Microfinance Institutions Really Need to Worry About Their Brand? [online], Microsave, Lucknow, India. Available from: http://www.brandscape.co.ke/index.php/resources/doc_download/5-do-mfis-really-needto-worry-about-their-brands-.html [accessed 13 January 2011]. http://www.brandscape.co.ke/index.php/resources/doc_download/5-do-mfis-really-needto-worry-about-their-brands-.html

Pickens, M. (2009) Window on the Unbanked: Mobile Money in the Philippines [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.41163/BR_Mobile_Money_Philippines.pdf [accessed 5 April 2011]. http://www.cgap.org/gm/document-1.9.41163/BR_Mobile_Money_Philippines.pdf

Rosenberg, J. (2010) Is there an app to track M-PESA's growth? [online], CGAP, Washington, DC. Available from: http://technology.cgap.org/2010/08/18/is-there-an-app-to-track-m-pesas-growth-headlines-for-aug-18-2010/ [accessed 5 April 2011]. http://technology.cgap.org/2010/08/18/is-there-an-app-to-track-m-pesas-growth-headlines-for-aug-18-2010/

World Bank (2009) Financial Access 2009 [online], CGAP, Washington, DC. Available from: http://www.cgap.org/gm/document-1.9.38735/FA2009.pdf [accessed 13 February 2011]. http://www.cgap.org/gm/document-1.9.38735/FA2009.pdf