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The SMART Islands Activation Program Empowerment through Mobile Banking

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Mr. Jun Perez of SEEDFINANCE explains how their partnership with SMART in the Island Activation Program supports empowerment through mobile banking during the 2012 RBAP-MABS National Roundtable …

Mr. Jun Perez of SEEDFINANCE explains how their partnership with SMART in the Island Activation Program supports empowerment through mobile banking during the 2012 RBAP-MABS National Roundtable Conference on June 8.

Published in: Business, Technology

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  • 1. Session  8:   Island  Ac0va0on  Program:       Empowerment  Through  Mobile  Banking   Jun Perez SEEDFinance   2012 RBAP-MABS National Roundtable Conference June 7-8, 2012 Hyatt Hotel & Manila  
  • 2. The SMART Islands Activation Program Empowerment through Mobile Banking
  • 3. Islands  Ac0va0on  Program  (IAP)   •     an  ini;a;ve  of  Smart  Communica-ons,  Inc  .,   which  aims  to  provide  mobile  based  financial   services  to  remote  communi;es.   •     designed  to  target  Microfinance  Ins;tu;ons  in   remote  areas  where  access  to  financial  services  is   limited.   •       a  partnership  of  SMART-­‐MFI-­‐SEEDFINANCE   •       enabling  island  residents  to  perform  mobile   remiEances,  e-­‐load  purchases,  bill  and  u;lity   payments  and  other  micro  purchases,  all  via   mobile.   •       launched  in  October  22,  2008  
  • 4. Islands  Ac0va0on  Program  (IAP)              Aspira0ons    •    To   provide   communi;es   in   far   flung  areas   affordable   access   to   mobile-­‐enabled  financial  services.  •   To   present   clients/members   of   the  Ins;tu;on   with   a   sustainable   business  opportunity   that   may   augment   their  present  livelihood  ac;vi;es      
  • 5.                Role  of  SMART  on  IAP                      SMART   •     provides  the  technology  and  access   devices  (SIM,  Smart  Money  Account)  that   makes  mobile  money  possible   •       enables  the  plaPorm  and  services  while   engaging  with  partners  who  are  willing  and   able  to  run  the  technology  
  • 6. Role  of  Partner  MFI  on  IAP                      Partner  MFI   •     promotes  and  encourages  the  use  of  SMART   Money  services  among  members  of  the   community  using  merchandising  collaterals  and   promo;onal  materials  provided  by  SMART   •     loyalty  and  usage  programs  are  designed  and   implemented  by  the  Ins;tu;on  to  further   promote  SMART  Money  reloading  and   encashment  services    
  • 7. RemiAance  
  • 8.  Ac;vated  Smart  Money  Centers  in  71  remote   rural  communi;es.     Released  7,624  Smart  Money  Cards     in  partners’  areas,  as  of  3-­‐31-­‐12  
  • 9.   SEEDFINANCE  Support                           MOBILE  BEAT  :  Mobile  Banking  Educa;on  And   Training  (MBEAT)     •       designed  to  educate  Microfinance   Ins;tu;ons,  as  well  as  microfinance  clients,  the   technical  and  prac;cal  use  of  mobile  banking  in   their  day  to  day  financial  transac;ons.   •       modules  for  MFIs  are  designed  for  Product   Planning  and  Development,  Computer  Literacy   &  MIS  Management,  Liquidity  &  Fund   Management  and  Marke;ng  &  Customer   Service.            
  • 10. Clients’  experiences   BRANCHLESS  BANKING   ATTRIBUTES   PHYSICAL  BRANCH   (THRU  SMART  MONEY)   NEARBY   1  HABAL-­‐HABAL  RIDE   AT  FINGERTIPS   AWAY     SAFE   NEED  FOR  MAINTAINING   NO  MINIMUM  BALANCE   BALANCE  LOW  COST     AFFORDABLE   CLIENT  PAYS  FOR  CHARGES   NO  HIDDEN  CHARGES   FOR  BELOW-­‐MAINTAINING   OR  DORMANCY  CHARGES,   ETC.     FREQUENT   CANNOT  TRANSACT  2  TO  3   ANY  NUMBER  OF  TIMES   OPPORTUNITY   TIMES  A  DAY  OR  MORE   WITHIN  THE  DAY   TO  TRANSACT     USER  FRIENDLY   CANNOT  UNDERSTAND  A   CAN  UNDERSTAND  A   BANK  STATEMENT  OR  THE   SIMPLE  TEXT   TCS  (TRANSACTION  CODES   CONFIRMATION   IN  THE  PASSBOOK)    HIGH   VARIETY  OF   CAN  PAY  LOANS  BASED  ON   IF  AVAILABLE,  C AN  TEXT  VALUE   VALUES,   FIXED  AMORTIZATION   THE  PAYMENT  ANYTIME,   TERMS,   SCHEDULE   EVEN  IN  ADVANCE  OF  DUE   SCHEDULES   DATE   MULTIPLE,   SEPARATE  DEPOSIT   CAN  TRANSACT   CONNECTED   PASSBOOK,  LOAN  LEDGER,   EVERYTHING  THROUGH   PRODUCTS   ETC.   MOBILE  PHONE   ADAPTED  TO   CONFINED  TO  DEPOSIT   CAN  PAY  BILLS,  LOANS,   UNIQUE  NEEDS   AND  LOANS  AND   DEPOSIT,  REMIT,  ETC.     OF  THE  POOR   REMITTANCE    
  • 11. Lessons  Learned  •  INSTITUTIONAL  PREPARATION  IS  A  CRUCIAL   FACTOR  TO  SUCCESS  •  CLIENTS  NEED  TO  BE  EDUCATED,  TOO,  ON   BUSINESS  POTENTIALS  •  LIQUIDITY  HAS  TO  BE  MANAGED  CAREFULLY  •  NOVELTY  NEEDS  TO  BE  REINFORCED  BY   INTEGRATING  MOBILE  BANKING  WITH  CORE   SAVINGS  &  CREDIT  OPERATIONS  
  • 12. The  Vision  for  the  FutureSMARTowns    Cashless,  Branchless   ATMs   SMART   Mobile   Banking   money   tellers  •  BRINGING  MOBILE  BANKING  TO  ISLAND  COMMUNITIES   THROUGH  AN  ECOSYSTEM  OF  MOBILE/E-­‐MONEY,  ATM   MACHINES,  POS  MACHINES,  MOBILE  TELLER  MACHINES,   THROUGH  COOPERATION  OF  TELCOs,  KBs,  ATM  SOLUTIONS,   SYSTEMS  PROVIDERS,  &  MFIs  •  CUSTOMERS  LINKED  TO  ELECTRONIC  CASH  PLATFORMS,   TRANSACTING  &  REALIZING  TRANSACTIONS  AT  THEIR  OWN   TIME,  AT  THEIR  CONVENIENT  PLACE  
  • 13. In  2010  and  2011  we  ini;ally  worked  with  savings  and  credit  coopera;ves       In  2012,  we  partnered  with  RBAP-­‐MABS  to   assist  in  the  SMART  Money  Program     for  rural  banks  
  • 14. We  firmly  believe...       MOBILE  BANKING  IS  THE  WAY  TO  GO   FOR  MICROFINANCE  THAT  IS  ...   ACCESSIBLE,  RELIABLE,  &  AFFORDABLE!  
  • 15. That’s  all  she  wrote...   THANK  YOU!