Welcome to version 3.0 of the Digital Finance Evidence Gap Map (EGM)

This interactive EGM matrix of 14 digital finance product categories, 32 design and delivery categories and 10 outcome categories contains 75 impact studies. A supporting methodology document is also available.

How to use the EGM

There are two views of the EGM. The first view, Digital Finance Studies, shows the total number of studies that were conducted on a particular product, plotted against the client outcomes which were tested. The objective of this view is to give the user an overview of the impact literature on digital finance and highlight which digital finance products were examined, against what outcomes and how frequently.

The second view, Digital Finance Results, presents the results of each test that was conducted on a particular client outcome. The colour codes circle show the level of impact (green is positive, red is negative and orange is no impact) and the number within the circle shows the number of tests on the client outcomes. Most studies tested more than one outcome, and many studies tested more than one variation on that outcome. For example, a study that tested the outcome clients improve savings behaviour, may have provided results on 1) the change in frequency of saving and 2) the total value of savings. Thus, the number of tests in the results view, may not equal the number of studies.

In both views, you can filter by different variables to gain a more precise picture of the impact of digital finance on various client outcomes—you can click on any circle to access further information on the studies.


The EGM was last updated in October 2019.

We are tracking several impact studies that are in progress and impact studies that were released after the literature review ended in early August 2019. These will be folded into the next version of the EGM.

If you have questions on the EGM, or would like to discuss research priorities or have relevant Digital Finance impact studies that you would like to include, please contact ideas@financedigitalafrica.org.

  • Filters:
  • DFS
    • Mobile Money
    • Mobile Banking
    • Person-to-Person
    • Person-to-Government
    • Business-to-Government
    • Business-to-Business
    • Bill Payments
    • Merchant Payments
    • Government-to-Person
    • Donor-to-Person
    • Business-to-Person
    • Credit
    • Saving
    • Insurance
  • Design & Delivery
    • Two-way SMS
    • Gamification
    • Default Saving Contribution
    • Locked Savings Account
    • Pricing
    • Integration with DFS+ Services
    • Loan Linked to Certain Products
    • Timing of SMS Reminders
    • Clear Information Disclosure
    • Non-Financial Interest
    • Biometrics
    • Matching Incentives
    • Peer-to-Peer Lending
    • Mobile Learning Platform
    • Labeled Savings Account
    • Loan Repayment Timing
    • SMS Reminders
    • Mobile Money
    • Mobile Banking
    • Access to Mobile Phone
    • Availability of Agents
    • Female Agents
    • Roving Agents
    • Financial Literacy or Customer Training
    • Credit Cards
    • ATM Cards
    • Marketing
    • Policy
    • Smartcards
    • Roving ATM
    • Wireless PoS
    • Agent Incentives
  • Outcome
    • Clients adopt the DFS product
    • Clients improve saving behaviour
    • Clients engage in healthy borrowing
    • Clients pay less (money and time) for financial services
    • Clients are empowered through greater privacy, monitoring and control
    • Clients smooth consumption
    • Clients are better prepared to deal with shocks and recover faster
    • Clients improve their physical educational and emotional welfare
    • Clients invest in income generating pursuits and asset building
    • Clients improve income
  • Comparison Groups?
    • Yes
    • No
  • Differential Effects?

    Show only studies that have highlighted a differential effect based on client variables, such as gender, location, income, education etc.

    • Yes
    • No
  • Design
    • A/B Test
    • Action Research
    • Cross Section
    • Mixed Methods
    • Panel Survey
    • Pre/Post Survey
    • RCT
    • Randomised Experiment
    • Replication
    • Transactional Data (Provider)
  • Country
    • Afghanistan
    • Bangladesh
    • Bolivia
    • Burkina Faso
    • Colombia
    • Côte d'Ivoire
    • Ghana
    • India
    • Indonesia
    • Kenya
    • Malawi
    • Mali
    • Mexico
    • Mozambique
    • Niger
    • Pakistan
    • Papua New Guinea
    • Paraguay
    • Peru
    • Philippines
    • Rwanda
    • Somaliland
    • South Africa
    • Sri Lanka
    • Tanzania
    • Uganda
  • Publication Year
    • 2009
    • 2010
    • 2011
    • 2012
    • 2013
    • 2014
    • 2015
    • 2016
    • 2017
    • 2018
    • 2019
Input Outcomes on client, household or community
  Adoption Immediate Benefits Medium-Term Benefits Longer-Term Benefits
Clients adopt the DFS productClients improve saving behaviourClients engage in healthy borrowingClients pay less (money and time) for financial servicesClients are empowered through greater privacy, monitoring and controlClients smooth consumptionClients are better prepared to deal with shocks and recover fasterClients improve their physical educational and emotional welfareClients invest in income generating pursuits and asset buildingClients improve income


Key: Number of   studies; and of which, number of tests with a   positive impact   negative impact   no impact
The EGM was last updated in October 2019.

evidence points from studies