World Savings Day: how EDRAF is empowering the unbanked

For over 1.4 billion people worldwide, saving money isn’t just a challenge, it’s an impossibility. To mark World Savings Day, UCL Ventures highlights the work of its social venture EDRAF.

What is EDRAF?

EDRAF, the ‘Ethnographic Driven Risk Analysis Framework’, was developed by Professor Lucia Michelutti from UCL Anthropology, alongside Dr. Barbara Verardo. Rather than relying solely on financial data, EDRAF includes socio-cultural insights to build a more accurate picture of risk.

Progress

In pilot studies across rural North India, EDRAF’s tool was 100% accurate in identifying creditworthy borrowers who lacked traditional financial documentation.

UCL Ventures’ role in EDRAF’s journey

EDRAF gained access to funding including entry into the ARC Accelerate programme via the SHAPE Catalyst, and inclusion in the London Social Ventures initiative. Are you interested in obtaining a licence for EDRAF? Learn more.