Swadhaar Finaccess

Swadhaar Saathi, an Android-based financial education and money management app, empowers users to access educational content and manage finances conveniently within the comfort of their homes. This application serves individuals from low-income backgrounds, allowing them to monitor income, expenses, and financial transactions effectively.

Swadhaar adopts a dual approach, merging digital and physical training methods. Trainers utilize digital devices equipped with standardized training materials, complemented by post-training assistance via the Call Centre. This combines digitalized training processes with in-person interactions to engage clients effectively. The Swadhaar Saathi app aids clients in budgeting and financial planning. Master trainers also conduct tailored online classes for NGO and organisational staff. Swadhaar's digital education strategy aims to connect marginalized populations, particularly women, to the country's cutting-edge digital financial system, underpinned by Jan Dhan-Adhaar-Mobile integration and UPI as the payment backbone. Its digitized training process reinforces content, offers guidance, and sustains post-training support.

In December 2020, Swadhaar launched the eFinClass project to aid fellow NGOs in delivering customized financial education to communities. This initiative involves providing training expertise and tailored content. Swadhaar aims to gain insights into gaps and opportunities, with the objective of establishing a sustainable Franchise Model for expanding financial and digital literacy. Operating through a B2B approach, it closely collaborates with NGO partners to train instructors, provide customized content, and guide community training efforts. This blended approach, integrating online and in-person methods, offers adaptability, customization, and cost-effective scalability, leading to significant learning outcomes for NGO staff and community members, especially with ongoing support from Swadhaar's master trainers.

In January 2022, Swadhaar introduced FINACT – The Financial Inclusion Network for Training and Action, a pioneering initiative focused on empowering women through financial inclusion. Rooted in a human-centric approach, FINACT aims to nurture financial capability and autonomy among women. Over three years, Swadhaar will collaborate with experts to develop behaviour science-based interventions, fostering a comprehensive path to financial resilience. This initiative involves reviewing training content, exploring blended learning methods, and establishing supportive communities for sustained behavioural change. The ultimate goal is to create a Resource Hub and an accessible digital platform for trainer-led skill development, self-learning, and a self-sustaining network of programmes.

Centres of Financial Literacy (CFLs) act as crucial catalysts for financial inclusion in remote, impoverished villages. Each CFL covers three blocks, aiming to include 50% of villages within each block and reach 30% of the adult population in those areas. Swadhaar's CFL network involves close collaboration between trainers, communities, and local institutions to ensure comprehensive financial inclusion, especially for women. This encompasses financial and digital literacy training, linking individuals to financial products, and offering support. Over the next three years, Swadhaar's CFL network aims to positively impact over 5 million underserved rural participants, establishing CFLs as reliable resources for rural families to access formal financial services and enhance their financial resilience.