"Efie Ni Efie" - the digital financial literacy platform via Instant Voice Response platform (IVR) of Fidelity Bank – has been awarded the Product Launch of the Year at the 11^th edition of the Marketing World Awards held in Accra on Friday, July 15, 2022. "Efie Ni Efie" (home sweet home in Twi) was launched in late 2021 by Fidelity Bank and Viamo with the support of UNCDF under the GrEEn Project. The IVR platform provides financial information in an easy, educational and entertaining way.

The 4-module literacy journey guides users through key concepts such as financial management, budgeting, saving plans, and saving channels in English and the dominant local languages in the Ashanti and Western Regions. A distinct feature of the platform is that it engages users through the journey towards economic independence, offering tailor-made solutions while providing easy-to-access content and relevant information that help users make sound financial decisions. Thanks to the mix of innovative digital and non-digital user acquisition marketing campaigns executed by Fidelity Bank, more than 15,000 youth and women in the Ashanti and Western Regions have accessed and benefitted from the “Efie ni Efie” IVR service in the first quarter of 2022.

The Marketing World Awards (MWA) Ghana recognizes outstanding organizations, that have delivered superior product value to the market and exhibited excellence in upholding concrete marketing strategies, displaying uniqueness and innovativeness among offerings, conveying clear messages to its consumers, and driving distinctiveness.

In 2021, Fidelity Bank developed the “Efie ne Efie” service with an emphasis on content development and the customer journey based on design thinking principles – as illustrated in the episode “Customers come first“ of the GrEEn video series Making Finance Work in Ghana. Following that, Fidelity Bank began to work on a comprehensive and well-tailored customer acquisition and onboarding campaign. The team also rolled out a simultaneous below-the-line (BTL) community engagement at 8 locations across the 10 priority districts of the GrEEn Project in the Ashanti and Western Regions.

Speaking on this initiative, the Director of Inclusive Banking, Esi Mills-Robertson, stated that "the introduction of this innovative platform in the banking industry forms part of our digitalization agenda to make banking convenient and easy for our customers and non-customers alike. This initiative aims to change the situation where customers rely on family and friends for financial advice and have to always walk into banking halls just to receive financial information.”

The recognition at the MWA 2022 confirms the commitment of Fidelity Bank to offering services that matter to vulnerable groups, setting best practices within the industry.

Commenting on the award, Technical Specialist at UNCDF, Arianna Gasparri, said “UNCDF is glad to have supported this innovative product which allows thousands of people to access reliable information that helps them with financial decisions. Thanks to the funding of the European Union, UNCDF can support private sector players to pilot and test new services that leverage digital. The partnership between Viamo and Fidelity is indeed a clear example of how facilitating new business models that combine technology with a long-lasting banking experience, footprint on the ground, and clear offering targeting the most vulnerable can be a game changer for the economic independence of youth and women in Ghana”.

She added, “the award is a clear sign of recognition for the excellence of a service that targets those outside the more traditional market segments, which usually have higher purchase power. Customers have the power to choose and select the most appropriate product that fits their needs. While there may be a common belief or bias that , low-literate, and hard-to-reach customers don’t have such power, they actually do. Fidelity Bank understood such an opportunity and executed marketing strategies and user acquisition campaigns aligned with their needs. The outstanding results are proof of the team’s dedication to targeting the underserved with high-value-added products”.

On behalf of the European Union, UNCDF is committed to supporting financial services providers in Ghana in increasing access and usage of financial services for youth, women, and returning migrants. Financial literacy is key in ensuring that targeted beneficiaries have the skills and competencies to understand and benefit from such services. Efie Ni Efie is an excellent example of how technology – if adequately channeled – makes services accessible to a broader section of the public and is instrumental in disseminating important (financial) information that leaves no one behind.