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Mobile banking by Sol trumbo
 

Mobile banking by Sol trumbo

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What is Mobile Money?

What is Mobile Money?

Which models are ongoing now? Almost one hundred

Can we classify these models in order to understand better what's going on? Yes

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    Mobile banking by Sol trumbo Mobile banking by Sol trumbo Presentation Transcript

    • MOBILE MONEY & MOBILE BANKING THE RAISING BRANCHELSS BANKING INDUSTRY
      • What is mobile money?
      P erson to Person (P 2P ) Mobile Banking Person to Business (P2B) It refers to a suite of financial services offered through mobile phones and other handheld mobile devices (Jenkins; 2008, Harvard Kennedy School) Check balance, deposits… Therefore within mobile money we include:
      • Is the delivery of financial services outside conventional bank branches using information and communications technologies and nonbank retail agents.
      • (Consultative Group to Assist the Poor; 2009)
      Branchless Banking
      • 79 live deployments
      • 86 planned deployments
      • Deployment tracker
      • http:// www.wirelessintelligence.com /mobile-money
      Mobile Money and Branchless Banking Worldwide
    • MODELS OF MOBILE MONEY Additive models Transformational models Numerous and very diverse We need a classification: Mobile Money is merely an extra channel to access to financial services Mobile Money provides access to financial services to the unbanked population
    • MODELS OF MOBILE MONEY
      • Additive models
      Money transfers Bill Payments Savings Insurances Loans Mobile Money
    • MODELS OF MOBILE MONEY
      • Additive models
      – Branchless Banking
    • MODELS OF MOBILE MONEY
      • Transformational models
      Money transfers Bill Payments No Bank account is needed
    • MAIN ACTORS
      • Market penetration
      • Ownership of technology
      • Legal limits
      Expertise and legal rights Traditional model no profitable in developing countries Legislation is the key Policies and market regulation Limits for non-financial institutions
    • COMBINATION ACTORS Only Telco company Only Bank company Partnerships
    • TRANSFORMATIONAL MODELS
      • M-PESA - G-CASH
      • Kenya Country Philippines
      • Apr 2007 Launched Oct 2004
      • SAFARICOM Company G-GLOBE
      • 9 m Users of m-banking 2 m
      • 19.296 Agents countrywide 1.500
      Service allows users Money transfer Bill Payment Based on: SMS Retail agents
    • ADDITIVE MODELS
      • COUNTRY Brazil
      • LAUNCHED 2002 approximately
      • COMPANIES Bradesco, Caixa Economica Federal, Banco do Brasil, Banco Lemon
      • USERS BRANCHLESS BANKING 13.000.000
      • AGENTS COUNTRYWIDE 130.000
      BRANCHLESS BANKING Service allows users Money transfer Bill Payment Government welfare payments Extensive use of retails agents
      • COUNTRY South Africa
      • LAUNCHED 2004
      • COMPANIES MTN, FNB, MoPay, Wizzit, Standard Bank
      • USERS 1.5 m
      ADDITIVE MODELS Wide legislation in relation with mobile money Government support - Legislation and distribution of welfare payments
    • CONCLUSIONS
      • Main questions for the future
      Companies involved New products and services Security Telcos ----------------Banks Legislation Consumers, Governments, Companies Convenience for retail agents Internet Savings, Loans Competition, interoperability
      • What can we learn from the current models?
      CONCLUSIONS Reaching the unbanked Accessibility is essential New players in old markets Re-using existing resources Still low revenues – no profitable Country profile determinant
      • THANK YOU
      Sol Trumbo Vila Economic development and international relations [email_address]