VisionSpring, a pioneering social enterprise, will partner on the THRIFT Transforming Households with Refraction and Innovative Financial Technology) trial of ENGINE studies to understand the impact of eyeglasses on expanding financial inclusion for older adults, particularly through mobile banking, said a press release on Monday.
The THRIFT trial will examine the impact of free reading glasses to support the use of smartphone banking apps in Bangladesh among elderly recipients of government Old Age Allowance payments.
The release said, the study will capitalize on Bangladesh Government’s plan to digitize all social safety net payments to the elderly.
The THRIFT study will be implemented by VisionSpring, Good Business Lab, University of Michigan, Florida International University, University of Dhaka, and MOMODa Foundation.
The release stated that the ENGINE studies are funded by the Wellcome Trust and the Chen Yet-Sen Family Foundation, totalling £3.6 million. The lead researchers on the ENGINE studies are Professor Nathan Congdon of Queen’s University Belfast (QUB) in the UK and Professor Rohit Khanna of the LV Prasad Eye Institute (LVPEI) in India.
The principal investigator for the THRIFT study, Dr. Atonu Rabbani, Associate Professor of Economics, University of Dhaka and Associate Scientists, BRAC James P Grant School of Public Health said: “The social pension program in Bangladesh is the largest of its kind. This research will determine if creating access to eyeglasses is a low-cost, effective way to remove a barrier to increased under-served, elderly people who benefit from digital payments.”
Ella Gudwin, CEO of VisionSpring, said: “This research initiative is a testament to the collaborative spirit of the eyecare sector. We expect the THRIFT results will shape financial inclusion and health policies that facilitate older adults participation in mobile banking and associated safety net programs.”
