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Leveraging mobile banking channels for client education

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The USAID-supported
RBAP-MABS Program presented its Financial Education for Branchless
Banking Project, an initiative implemented in partnership with MasterCard
Foundation and Microfinance Opportunities. The presentation highlighted how
the initiative is supporting rural banks’ mobile phone banking services rollout
and how it facilitates the expansion of services to clients in areas that are
hard-to-reach.

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Leveraging mobile banking channels for client education

  1. 1. Leveraging Mobile Banking Channels for Client Education Cheryl Lualhati B. Balingit Citi-FT Financial Education Summit November 27, 2011
  2. 2. What is the MABS Program? The Microenterprise Access to Banking Services ( MABS) Program is an RBAP program supported by USAID that provides technical assistance and training to rural banks in microfinance best practices. The program is designed to develop the capability of rural banks to profitably provide financial services (loans, deposits, insurance, and money transfers) for microenterprise clients.
  3. 3. GCASH & SMART Padala Launched
  4. 4. Rural Bank M-Banking & M-Commerce Ecosystem via GCASH RURAL BANKS Text-a-Payment / Int’l & Domestic Remco’s P Text-A-Sweldo (Salary Disbursement) Text-A-Remittance Cash-in/Cash-out (Face-to-Face Wallet Funding) Text-A-Withdrawal (Withdrawal from Bank Account to GCash Wallet) Text-A-Credit (Loan / Credit Disbursement) P2P (Domestic Remittance) GCash2Load (Airtime Credit Purchase) P2P (Purchase of Goods/Services) Text-a-BillPay (Bills Payment) Text-A-Deposit (Deposit to Bank Account) Rural Bank
  5. 5. MasterCard Financial Education for Branchless Banking Project Increase the up-take and use of mobile banking services through the use of financial education tools
  6. 6. Market Research Findings What if I send the money to the wrong recipient? Will my GCASH expire, just like airtime load? My account is protected by my MPIN so it is safe. If I lose my cell phone or if my SIM is blocked, I will lose access to my e-money as well. Money can be sent and received fast! No need to carry large amounts of cash around! I can save time and save on transportation cost.
  7. 7. Market Research Findings <ul><li>Savings Practices </li></ul><ul><ul><ul><li>Majority of the respondents said they do not have a savings plan but save whatever is “extra” </li></ul></ul></ul><ul><ul><ul><li>Savings are still mostly kept at home or as added capital for the business </li></ul></ul></ul><ul><ul><ul><li>Microfinance borrowers have compulsory savings but very few have a separate voluntary account </li></ul></ul></ul><ul><ul><ul><li>“ I don’t think it is worthwhile to come to the bank to deposit small amounts” </li></ul></ul></ul>
  8. 8. A new service that rural banks are offering that can help clients Save Time and Money, because now they can do banking transactions using cell phones from wherever they are without having to go to the bank .
  9. 10. mag-CellBank! in Baungon: Everyday banking made easier 1 st Valley Bank Cagayan de Oro Branch
  10. 11. <ul><ul><ul><li>Market Research Findings: Current Behavior </li></ul></ul></ul>FE for Branchless Banking Project: Action Outcomes <ul><li>Majority of the respondents said they do not have a savings plan but save whatever is “extra” </li></ul>Starter kit has section with step-by-step guide on making a savings plan Habit of settings savings goal and making plan for reaching goal cultivated <ul><li>Savings are still mostly kept at home or as added capital for the business </li></ul>Encourage clients to open deposit accounts Savings habit cultivated <ul><ul><ul><li>Microfinance borrowers have compulsory savings but very few have a separate voluntary account </li></ul></ul></ul>Encourage microborrowers to have a separate voluntary account Savings habit cultivated “ I don’t think it is worthwhile to come to the bank to deposit small amounts” “ You can now make deposits without leaving your house or your business, in small amounts and as frequently as you want” Savings habit cultivated
  11. 12. Thank You! E-mail: [email_address] Websites: http://www.rbapmabs.org http://www.mobilephonebanking.rbap.org/ http://blog.mobilephonebanking.rbap.org/

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