Nokia Phone Financing Program Brief

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Nokia Phone Financing Program Brief

  1. 1. Nokia Phone Financing Program 2009 RBAP-MABS National Roundtable Conference May 12-13, 2009 Hyatt Hotel and Casino Manila John Quimbo President, Altus Communications
  2. 2. <ul><li>Limited mode of transportation </li></ul><ul><li>High cost of communication </li></ul><ul><li>Presence of a middleman in every business transaction </li></ul><ul><li>Limited access to market information </li></ul><ul><li>Limited access to banking facilities </li></ul>Before Technology:
  3. 3. Technological Advances Are Allowing The People in the Rural areas to respond in new and efficient ways: <ul><li>Mobile devices – for both buyers and sellers, to aid in personalized and faster transactions and enable higher levels of service. </li></ul><ul><li>Wireless payment alternatives – To reduce transaction costs and provide added convenience to customers. </li></ul>
  4. 4. <ul><li>Using this technology can bridge a long distance communication </li></ul><ul><li>Provides fast and easy transaction with banks </li></ul><ul><li>Buyers or sellers can respond with speed to any customer demand and market </li></ul><ul><li>opportunity. </li></ul><ul><li>Allows rural banks to expand their services to clients in rural areas without </li></ul><ul><li>increasing costs or taking on additional risk </li></ul><ul><li>Saves time, money, and energy </li></ul>Technological Advances Are Allowing The People in the Rural areas to respond in new and efficient ways:
  5. 5. Enhancing Access to Rural Businesses <ul><li>The leading brand in mobile devices </li></ul><ul><li>Has a dominant market share </li></ul><ul><li>Appointed distributor of NOKIA </li></ul><ul><li>devices in 2007. </li></ul><ul><li>Have strategic warehouses </li></ul><ul><li>Presence of retail partners nationwide </li></ul><ul><li>Has a stronghold in the distribution </li></ul><ul><li>business. </li></ul>
  6. 6. <ul><li>It’s a program for rural bank customers in the countryside that gives them access to a Nokia mobile phone through very easy financing terms provided by rural banks. </li></ul>What is Nokia Phone Financing Program?
  7. 7. How Does It Work? <ul><li>Rural bank customer secures a loan from the rural bank to purchase a Nokia mobile phone. </li></ul><ul><ul><li>Loan policy is determined by the rural bank including payment terms and interest rates. </li></ul></ul><ul><ul><li>We recommend something that’s easy to understand and communicate. </li></ul></ul><ul><ul><li>E.g. Bangko Kabayan provide 6 and 12 month installment terms at 12%pa interest rate. </li></ul></ul><ul><li>Rural bank customer goes to the appointed Nokia partner retailer to retrieve the phone with the Notice of Loan Approval from the rural bank. </li></ul>
  8. 8. How Does It Work? <ul><li>The appointed Nokia partner retailer collects payment from the rural bank. </li></ul><ul><li>Rural bank starts collecting monthly installment from the customer. </li></ul><ul><li>Nokia provides marketing materials such as banners, posters and flyers to promote the program to the local market. </li></ul>
  9. 9. Participating Rural Banks BK Participating Branches: Batangas Ibaan Mabini Rosario San Jose San Pascual Lemery GM Participating Branches: Cabanatuan Tarlac
  10. 10. How Can a Rural Bank Enroll in the Program? <ul><li>The rural bank can contact Nokia’s authorized Distributor for the Nokia Phone Financing Program. </li></ul><ul><ul><li>Mac Dang, Altus Communications </li></ul></ul><ul><ul><li>+639177951200 or mgdang@altus.com.ph </li></ul></ul><ul><li>Rural bank has to sign a Memorandum of Understanding with Nokia’s authorized Distributor and the appointed Nokia partner retailer/s. </li></ul>
  11. 11. Thank You!

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