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Mobile Banking Breakout - Jeffrey Lee, Opportunity Bank of Rwanda

Mobile Banking Breakout - Jeffrey Lee, Opportunity Bank of Rwanda






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    Mobile Banking Breakout - Jeffrey Lee, Opportunity Bank of Rwanda Mobile Banking Breakout - Jeffrey Lee, Opportunity Bank of Rwanda Presentation Transcript

    • #bwffconf Building Women-Focused Finance: The Global-Local Experience Jeffrey J. Lee, CEO Urwego Opportunity Bank (UOB) Rwanda www.uob.rw Building Women-Focused Finance
    • #bwffconf UOB is a licensed microfinance bank in Rwanda • 11 branches, 33 credit offices, 1 mobile branch, 190,000 customers (80% of borrowing clients women, 85% rural) • The first and largest in Rwanda Full range of services • Loan products, including traditional group loans • Savings and insurance products • Remittance services Management objectives driven by triple bottom line • Transformation, outreach and sustainability Building Women-Focused Finance
    • #bwffconf • Through mHose, UOB are giving customers access to the full range of banking services through their phone Make deposits and withdrawals though network of Agents Customer bank account Manage UOB loan: • Repayments • Receipt of loan Interest is paid Other services: Send money, buy airtime, pay bill, balance enquiry Life insurance for customer and 2 family members Building Women-Focused Finance
    • #bwffconf 1. Reduce operational cash related risks • Lending staff no longer need to handle cash 2. Increase efficiency and productivity • Lending staff, data entry teams and Branch network will all experience benefits 3. Provide clients with easier access to UOB • Customers will have convenient, safe and affordable access to savings, loan and insurance services • Especially those customers with no access to a branch Building Women-Focused Finance
    • #bwffconf Customers • Over 13,000 registered, USD 1.1 million transacted in Oct • Customers have received mHose well • Convenience and security of paying their loans Agent network • 100 Agents registered throughout half the country • 500 Agents by YE 2014; mVISA Agents to 2,000 by YE 2014 • Liquidity availability and customer service is acceptable mHose system • System reliability and performance is much improved • Basic functionality is understood by customers and Agents Building Women-Focused Finance
    • #bwffconf Challenges and solutions Protect group cohesion and liability • SMS’s to group leaders (and airtime?) • Ensure monthly meeting attendance Increase customer usage: transactional and savings account • Customer training and incentives • Agent availability and liquidity levels Ensure sufficient liquidity • Weekly forecast and coordination with staff Provide adequate business case • Sufficient customer numbers and usage • Review commission structure Ensure system availability and reliability • UOB, VISA and SG to work together • UOB to communicate and rate system issues immediately Building Women-Focused Finance
    • #bwffconf Now in mobile and agent banking… Building Women-Focused Finance 7
    • #bwffconf Interoperable mobile and agent banking… Building Women-Focused Finance 8