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Leveraging mobile money to increase access to banking services
 

Leveraging mobile money to increase access to banking services

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    Leveraging mobile money to increase access to banking services Leveraging mobile money to increase access to banking services Presentation Transcript

    • Leveraging New Partners & Platforms to IncreaseAccess to Banking Services
    • Microenterprise Access to Banking Serviceswww.rbapmabs.org Bank Accounts vs. Mobile Phone Subscriptions Philippines (in Millions) 90 80 70 60 50 GCASH and Smart Padala 40 was launched 30 20 10 0 19981999 2000 2001 2002 2003 2004 2005 2006 2007 Bank Accounts Mobile Phone Subscriptions 2008 2009 2010 2011
    • Mobile Money Platforms•Card-less Mobile Money Platform •Card-based Mobile Money Platform•EMI - G-Xchange Inc (GXI) •EMI – Banco de Oro (manages float)•Float held in multiple banks •EMNSP – Smart Communications•Payments •Payments•Money Transfer •Money Transfer•Mobile Banking •Mobile Banking
    • The Rise of MPESAMobile Money solution launched in March 200714 million subscribers vs 7 million bank accountsMore transactions daily than ATM,debit & credit cards combined
    • Today, Rural Banks Can Offer the Following Mobile Phone Banking Services…
    • Banks partnering with Mobile Money Issuers & Third Parties• Rural Banks, Commercial Banks, & ATM networks now linked to GCASH & Smart Money in the Philippines• Multiple Banks in Kenya now linked to MPESA
    • Rural Banks using GCASH to Expand Outreach RBs registered over 380,000 clientsOver PhP 15 Billion ($350 million) in mobile phone banking transactions via GCASH
    • Rural Bank Mobile Money Ecosystem via GCash Text-a-Payment / Int’l & Domestic Remco’s PGCash2Load P2P(Airtime Credit Purchase) (Domestic Remittance) Text-A-Withdrawal Text-A-Sweldo (Withdrawal from Bank (Salary Account to GCash Wallet) Disbursement) RURAL Rural Bank BANKS Text-A-Credit Text-A-Remittance (Loan / Credit Cash-in/Cash-out Disbursement) (Face-to-Face Wallet Funding) Text-a-BillPay Text-A-Deposit P2P (Bills Payment) (Deposit to Bank Account) (Purchase of Goods/Services)
    • Branchless Banking via Third-Party AgentsPartnering with third-party agents to expandaccess to banking services, challenging butgetting easier
    • Third party agents – key to providing access CUSTOMER BANK Third partySupport FacilitatingServices Banking Services
    • Integrating with existing POS/ATM systems Trend in linking mobile money with ATM/POS enabled cards – good opportunity for banks – GCASH wallet ATM/Debit Card – Smart Money MasterCard/ATM Card – MPESA – PesaPoint System card-less ATM access
    • Scaling up of Branchless Banking Services Challenges Solutions1) Regulators & Regulations 1) Get regulators on board early & get them to the field 2) Leverage existing networks2) Building an agent network of mobile money / others 3) Integrate mobile money &3) Bank legacy systems branchless banking with existing payment/ATM systems
    • Scaling up of Branchless Banking Services Challenges Solutions4) How to promote 4) Make sure to address realbranchless banking services need/use cases5) Working with Banks - 5) Partnerships take time butMobile Money Issuers & leveraging each others coreOther Third Parties competencies6) Business proposition for all 6) Proper Market Research &parties Business Planning – There is a Business Case!
    • Thank You Email: jowens@chemonics.com Twitter: Jvowens Websites:http://www.mobilephonebanking.rbap.org/ http://blog.mobilephonebanking.rbap.org/