2.1 Total Available Market –
SaveTogether have two beneficiaries for its peer-to-peer matched savings platform – direct and
indirect. The direct beneficiaries are microfinance institutions and related community
organizations that offer matched savings accounts to low-income populations. The indirect
beneficiaries are low-income individuals who are unbanked or underbanked (do not have savings
accounts or maintain a low-average balance in an existing savings account).
Direct Beneficiaries (institutions that can / do offer matched savings accounts)
Market Market Size Need Source
Developing and Transition 2400 institutions Funding to Microfinance
Economies offer match to Information
savers Exchange
United States 540 institutions Funding to Corporation
offer match to for Enterprise
savers Development
(CFED)
Indirect Beneficiaries (low-income savers)
Market Market Size Need Source
Developing and Transition 1.3 billion accounts Incentive to save, CGAP.org
Economies accessible,
support from
community
United States 40 million accounts Incentive to save, Center for
accessible, Financial
support from Services
community Innvoation (CFSI
2.2 Total Addressable Market (United States) –
Description –
o Direct – up to 540 non-profit community organizations who currently offer
matched savings accounts for the working poor
o Indirect - working poor in America who do not maintain savings accounts
Characteristics –
o Direct – matched savings programs are chronically underfunded, requiring long
waiting lists for individuals to obtain the matched accounts. Only 10% of all
organizations reach out to individual donors, an even smaller percentage of
those who have reached out to individual donors have used an Internet platform
o Indirect - working poor who do not maintain savings accounts and use informal
financial institutions like check-cashing services
Needs –
o Direct – community organizations need a free, fundraising platform to access the
untapped potential of the small dollar donor (Obama, Kiva, etc)
o Indirect – working poor need information about matched savings accounts, need
access to these accounts, and need the associated financial education provided
by the community-based organizations offering these accounts.
How needs met:
o Direct – SaveTogether provides a free, fundraising platform for community
organizations to raise matching funds for their savers
o Indirect – More savers have access to matched savings accounts as community
organizations can offer more accounts as they fundraise through SaveTogether
Estimate of size:
o 1 million matched savings accounts could be offered nationally. Currently, there
are approximately 70,000.
Basis for the estimation:
o CFED (http://www.cfed.org), Saving for Working Families Act
The positioning of the product/service (compared to alternatives, including “non-
consumption)
Alternative Characteristics Size Positioning
Orgs Use Existing High cost, long 70,000 Business-as-usual
Fundraising Channels fundraising cycle, accounts
focus on large donors nationally
Orgs Stop Offering Eliminate programs, 0 Savings accounts
Matched Savings Account focus on other asset- are offered by
building program banks only
Orgs Use SaveTogether Easy to use, free Up to 1 Low-cost, high
internet-based million visibility internet
fundraising platform, accounts platform, increase
reach small dollar enabled market awareness
donors for potential of
matched savings
2.3 Market Segmentation Table
Direct Beneficiaries
Segment Definition Reasons for Adoption Reasons for Non-Adoption
Well-funded - Channel to internet- - Want to create their own
organizations based donors website for fundraising
- Free - Concerned about branding
when using a third-party
intermediary for fundraising
Under-funded - Channel to internet- - Organization does not have
organizations based donors resources to offer more
- Free accounts
- Can increase number of - Want to create their own
matched savings website for fundraising
accounts offered,
eliminating need for
waiting lists
Indirect Beneficiaries
Segment Definition Reasons for Adoption Reasons for Non-Adoption
Unbanked - Up to 3:1 match for - Not comfortable placing
every dollar saved personal story onto the
- Financial education Internet
opportunity - Do not have a clear idea of
- Opportunity to create what asset to purchase upon
relationship with a formal reaching their savings goal
financial institution - Comfort with informal check-
cashing business
Under-banked (low - Up to 3:1 match for - Do not want access to
average balance every dollar saved matched savings account;
savings/checking) - Financial education prefer current interest-bearing
opportunities account
- Do not have a clear idea of
what asset to purchase upon
reaching their savings goal