Global ROSCA Users through Digital Financial Inclusion, — ILF Ambassador Progress Report

I’m really enjoying this work.

My project is called Empowering Global ROSCA Users through Digital Financial Inclusion, but what I’m learning is that empowerment really depends on perspective. Not everyone wants to be empowered in the way we think they should be. Some ROSCA users in Canada aren’t interested in going digital at all. They’re comfortable with what they know, and they see value in keeping things small, local, and offline. But when I talk to people abroad, especially in the Caribbean, they’re much more open. They see digital tools as a way to connect, grow, and reach across borders. So now I’m asking myself: What does empowerment really mean in this context? And who gets to define it?

The primary goal of this project is to identify the needs of ROSCA users and discover what steps need to be taken to support their transition to using digital financial tools that encourage participation from users globally. Quite simply, they’re not interested. The want to keep elements of this cultural tradition private, off the radar and not on any apps.

The second goal is to introduce ROSCA app developers to opportunities within the Interledger ecosystem. They app developers are quite keen and interested in learning more about Interledger.

​​Throughout my interviews and research I find myself thinking a lot about two things: trust & the difference between financial inclusion, financial literacy, and digital financial inclusion.

At the beginning of this project, one of the other Ambassadors commented that “Some people choose not to be digitally included,” and honestly, I didn’t get it at first. Why would anyone choose to be excluded? But after talking to some of the banker ladies, I’m beginning to understand.

It’s not that they’re against using apps or evolving how ROSCA users can participate, they just don’t trust the technology, or the people behind it, or who might have access to their information. They seem to** ONLY** trust the people in THEIR ROSCA.

Some of the ROSCA users I spoke with are refugees or landed immigrants and they have expressed some concerns.
Interestingly, when I present the concept of ROSCAs to new people, trust always comes up. These women (ROSCAs are predominantly run and participated by women) trust each other—but not the system. It really has me rethinking things.

How can we have ROSCA members around the world using digital tools if there’s no trust? And what would my grandmother think? The solution might be for ROSCA users to be the ones to create their OWN app. Maybe we help existing groups develop the tools they need to do this themselves. Maybe we equip THEM with the knowledge, funding and opportunity to do this with our support.

I’ve had insightful conversations so far, with 22 ROSCA users and 2 fintech developers, and every discussion is pushing me to think more deeply about privacy, trust, and what financial inclusion really means in practice.
Does financial inclusion mean having enough money to do what you need to do?

Does financial inclusion mean having the same ability to move money anywhere around the world like everyone else?
What’s really the difference between my ability to move money (e-transfer, money transfer apps) vs my cousin in the Caribbean who cannot send an e-transfer and doesn’t have access to the same apps that I do?

People are open to connecting with other ROSCA users and using technology, but not at the cost of control and fees.

Many ROSCA users I’ve spoken to, mostly women over the age of 38 from various cultural backgrounds, are deeply committed to the principle of mutual aid. They trust each other, but they don’t trust institutions, big tech, small tech or any tech. One lady gave me the example that her group has moved from WhatsApp to Signal because of privacy concerns. They don’t want a bank, a fintech company, or any external player profiting from their cultural tradition.

If they put in $100 a month for 12 months, they expect $1,200 back. No service fees. No transaction charges. No questions asked.

Despite this, I still believe that this can be achieved. The optimist and dreamer in me still believes that if people from different parts of the world can pool resources—safely, securely, and privately—we can unlock something powerful. Collective saving that helps individuals become better savers and our communities can prosper.

The Fintech developers I’ve met have never heard of Interleger and are interested in learning more. Once I explain, their eyes light up. They see the potential. When I mentioned terms like “Open systems, Open API, Interoperability, etc.” I could see their eyes light up, especially coming from a non-technical Banker Lady like myself. My premise in supporting cross-border participation.

Progress on Objectives, Key Activities
Goal 1 – Needs Analysis: To date, I’ve conducted 22 interviews with ROSCA users primarily in Ontario via video conference. No travel was required. When presented with the option of participating anonymously, they all chose that option. The dominant themes: trust, autonomy, and fear of losing money to fees or institutions.

Goal 2 – Increase Awareness: I've introduced Interledger to 2 ROSCA app developers WOVEO & ChitLink. They’re intrigued by the idea of open APIs and see huge potential in connecting with a global ecosystem, but have chosen to start in Canada first.

Goal 3 – Community Content: I’ve outlined a plan for blog posts and educational content for Financial Literacy Month (November 2025) in Canada. I’ve decided that all blogs will be video blogs.

Goal 4 – Cost Savings & Global Impact: I’ve gathered one story that highlights both the power of ROSCAs and the barriers to modernization.

Goal 5 – Traditional Meets Digital: Fintech developers are fully onboard. Banker Ladies and ROSCA users are cautious—but curious. That gap is where I’m focusing my efforts.

What Impact Does the Project Have on Your Perception of Digital Financial Inclusion?
This project forced me to recognize my privilege and bias. I’m a middle class Canadian citizen with good credit. I’m not concerned about reporting my financial transactions to my spouse or to government agencies. I come from a middle class family and watched members of my family participate in ROSCAs with people in our family or with friends. I’m enjoying this work and interacting with both groups of ROSCA users. The message I’m receiving is that people want digital tools that serve them, not profit off them.

Most of the people I’ve spoken with see banks and fintechs as outsiders. They don’t want tracking, surveillance, or have to explain anything to anyone about what they're doing and with whom.

At the same time, the potential for innovation is massive. I describe “Fintech Developers” as the grandchildren of ROSCA users. They grew up watching their grandparents save money under the mattress, their parents hide money in various places and now they want to help take this online using digital apps.

They sincerely want to build tools to make things easier and inclusive. But how can they do this, without making a profit and maintaining user’s privacy? There is a challenge—and an opportunity that I’m still working to uncover.

Project Impact & Target Audience(s)
The project is reaching:
Black and primarily immigrant communities, especially women, although men also participate in ROSCAs

1. Women from various income and economic backgrounds who use informal saving groups
2. Fintech developers

Communications and Marketing

1. Drafting a blog post that will be submitted to the Interledger Community portal
2. Video content and social media campaign set to launch in the fall
3. Marketing budget is reserved for upcoming media production and outreach

What's Next?

In the next phase, I will:

1. Complete at least 3 more ROSCA user interviews and reach out to financial institutions
2. Finalize and publish remainder blog posts and case studies
3. Launch a 30-post social media campaign (1 for each day in November for financial literacy month)
4. Develop and pilot a Financial Literacy curriculum
5. Continue connecting fintech developers with the Interledger ecosystem

Community Supported
I feel very supported. I know that Lawil is just a message away. I’ve already had meetings with 2024 Ambassador Stephanie Perrin and 2025 Ambassador Caroline. I’ve reached out to Uchi from ChiMoney for a meeting in the summer.

The interledger facilitated an interview for me with reporters from South Africa. I’ll reach out to Chiara to help me promote my activities for Financial Literacy Month in Canada. I’m looking for podcasts that would be interested in this topic.

Additional Comments
I’m enjoying this project and the pivots and issues and questions I’m faced with.

This project is making me reflect, rethink, and reimagine and at times defend what’s possible for community-led finance. I’m questioning if we’re getting in our own way because of fear. Or is this fear justified? We’ve seen examples of things being co-opted, perverted or twisted to benefit others. There are an alarming number of negative posts and information about ROSCAs online and for the uninformed, it can be discouraging.
I recently attended a session hosted by fellow 2024 Ambassador Stephanie Perrin, and it made me pause and reflect. How safe is our data and what would my Grandmother think?