An application for enhancing financial capabilities and improving quality of life at the base of the pyramid.
Fundación Capital’s tablet-based “Colombia LISTA” financial education application, the first of its kind in the world, was designed to bring financial education into the homes of millions of women living in rural areas, providing them with information and financial training so they can learn to budget and save using a tablet computer shared within the community.
This “LISTA Demo” offers a preview of the “Colombia LISTA” application that was designed by Fundación Capital in 2012 with the support of our partners (government and financial institutions) and under the auspices of the Citi Foundation, the Ford Foundation, and the International Fund for Agricultural Development. “Colombia LISTA” was developed by Imaginamos and this demo was prepared by Bytelf.
In 2012, we tested the application in ten rural municipalities using a methodology we call “freeing financial education”. In less than three months, we delivered financial education to more than 1,200 people, training not only women recipients of government transfers, but also their spouses and children. Taking the teacher out of the classroom and bringing it into the home via a tablet computer not only has these positive externalities, but also allows users to study at their own pace, repeating topics that were unclear or that are specifically relevant to their needs.
The LISTA application is comprised of three financial education modules:
(1) ABCs of Savings: provides educational content to increase financial capabilities and helps users make informed financial decisions.
(2) Savings Calculator: allows users to visualize their savings, debt and expenses, preventing over-indebtedness.
(3) ATM Simulator: allows users to practice using an ATM, helping them gain confidence for when they use the real thing.
LISTA is an initiative designed to increase financial capabilities at the Base of the Pyramid by empowering its participants and inspiring them to visualize a better future, recognizing savings as one of the first steps on their way out of poverty.