Client Name

HBL

Faculty Advisor

Dr. Fawad Ahmed

SBS Thought Leadership Areas

Behavioural Studies

SBS Thought Leadership Area Justification

The project has a strong linkage with the field of Behavioral Studies, aiming to decipher the psychological, emotional, and behavioral factors that affect saving behavior among Generation Z and young adults in Pakistan. The study looked at saving behavior not only from financial/economic point of view, but also attempted to understand the process of making saving decisions, factors affecting the consistency of saving and those encouraging or discouraging long term saving behavior.

The study found a number of key behavioral trends, such as the impulse spending syndrome, the intention-action gap, the effect of social and lifestyle pressures, a preference for flexibility rather than stringent savings restrictions and how goal setting affects saving consistency. It also emphasized the role of trust and transparency, along with the sense of control, in influencing attitudes towards financial products in the digital space. The research aimed to investigate the impact of emotions, perceptions, habits and personal experiences on financial decision-making, using a combination of quantitative surveys and qualitative focus group discussions.

Moreover, the suggestions formulated for HBL Konnect Gulak are based on the principles of behaviour. These are: parameters based on goals, visualization of progress, reminder features, "soft" financial discipline, predictable automation, and user centered design. These interventions aim to foster “good behavior” in finance through both consumer nudges and a decrease in common impediments to saving.

Thus this project supports the field of Behavioral Studies as it utilizes behavioral lessons; in order to change consumer financial behavior and come up with effective solutions to encourage financial discipline, a consistent saver and hence help bring prosperity to the youth of Pakistan in their financial lives.

Aligned SDGs

GOAL 8: Decent Work and Economic Growth

Aligned SDGs Justification

It best resonates with the sensitive area of Decent Work and Economic Growth as its aim is to support Financial Inclusion and ensure sustainable financial practices for young adults in Pakistan. The project's research on saving behaviour, financial decision-making processes and digital financial inclusion aims to find ways to encourage individuals to develop better saving skills, make more informed financial decisions and enjoy a stronger financial resilience and outlook for financial sustainability. Prominent among the recommendations for HBL Konnect Gulak is the empowerment of young consumers to be better able to manage their finances, driving increased economic stability and financial inclusion.

NDA

No

Abstract

This report presents the findings of a mixed-method market research study conducted for HBL Konnect Gulak, a digital micro-saving feature within the Konnect application aimed at Pakistan's Generation Z and young-adult market. The research combined a quantitative online survey of 110 respondents with two qualitative focus group discussions to understand the saving behaviour, barriers, and product expectations of the 18–24 demographic. The central finding is that the primary obstacle for this audience is not awareness of saving, nor reluctance toward digital finance, but the persistent gap between the intention to save and consistent saving action. Respondents are digitally fluent and financially aware, yet their saving is disrupted by low income, unexpected expenses, impulse spending, weak goal structure, and the tension between easy access and discipline. The study finds that the strongest product fit for Gulak is a model of guided discipline rather than enforced restriction: simple, transparent, trustworthy, and built around visible goals, predictable consent-based automation, and reliable everyday performance. The report concludes with ten strategic and user-experience recommendations for HBL. Keywords: Generation Z, digital saving, behavioural finance, fintech adoption, HBL Konnect Gulak, micro-saving, financial inclusion, Pakistan

Document Type

Restricted Access

Document Name for Citation

Experiential Learning Project

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