VisionSpring the pioneering social enterprise, will participate in a ground-breaking suite of four studies, known as ENGINE, that explore the relationships between vision correction and social and economic development. VisionSpring will partner on the THRIFT trial to understand the impact of eyeglasses on expanding financial inclusion for older adults, particularly through mobile banking.
The ENGINE studies are funded by the Wellcome Trust and the Chen Yet-Sen Family Foundation, totaling 3.6 million pound sterling. 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 THRIFT (Transforming Households with Refraction and Innovative Financial Technology) 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 study will capitalize on the Bangladesh Government’s novel plan to digitize all social safety net payments to the elderly. The World Bank and others suggest Bangladesh’s strategy of delivering safety net payments through e-banking to the elderly provides a model for many other countries if visual challenges for users are successfully met.
The principal investigator for the THRIFT study, Dr. Atonu Rabbani, Associate Professor of Economics at the University of Dhaka and Associate Scientists of 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 eye care 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.”
