NRT 2011: RB Mabitac Experience - Using Technology to Expand Microfinance
RURAL BANK OF MABITAC, INC. “EXPERIENCES USING NEW TECHNOLOGIES TO EXPAND MICROFINANCE OPERATIONS”
RBAP-MABS and Smart Money expand RB Mabitac’s Mobile Money Transfer Services
Background: ‐ In 2009 Smart Communications and RBAP MABS approached RB Mabitac, Inc. to pilot test SMART MONEY with rural banks. ‐ RBAP, through its MABS program, collaborated with Smart to pilot test its e‐money transfer services with RB Mabitac.
Money In/Money Out (MIMO) Pilot: • Cabuyao and Infanta Branches • Pilot tested MIMO transactions to bank employees • Limited bank clients (30 per branch) • Experienced very limited transactions • No advertising materials during the pilot stage.
Developments: • MABS and Smart evaluated the results of the pilot.• Got “conditional approval” to offer MIMO and facilitate distribution of Smart Money Instant Card • Only to RB Mabitac account holders • Limited only to few branches
Developments: • Frontliners trained to facilitate instant card activation and issuance • Pilot tested card issuance in three (3) branches Los Banos, Paete and Candelaria • Training on mobile money transfer to 14 ﬁeld oﬃcers
Pilot Test Results: as of May 2011 No. of Registered No. of Ac6vated Amount of Branch No. of Transac6ons Clients Clients Transac6ons Encash 26 19,860 Candelaria 18 18 Loading 6 12,800 Encash 6 1,800 Paete 13 13 Loading Encash 14 9,100 Los Banos 14 14 Loading 14 9,100 Encash 46 30,760 TOTAL 45 45 Loading 20 21,900
Next Steps: • Encourage 20,000 bank depositors and borrowers to register to Smart Money. • Smart Money MIMO will serve as additional marketing tool for potential clients in all strategic locations where the bank is operating. • Rollout to remaining branches.
ENCASH ATM’s AND RB MABITAC, INC expanding its banking services…
Background: Encash and RB Mabitac, Inc. partnership started on April 2009 with our ﬁrst ATM deployed in Cabuyao Branch ‐ one of our branches with the highest foot traﬃc due to its strategic loca[on
Developments: Paete ‐ A busy town with a lot of OFW’s, tourists and entrepreneurs was the second ATM installed on May 2009.
Developments: • Addi[onal ATMs installed in Siniloan and Sta. Maria Branches. • Salaried individuals are receiving and sending money thru ATM’s. • Beneﬁciaries of the the DSWD’s 4Ps Program also used ATMs of the bank.
Why RB Mabitac put up ATMs? ATMs provide 24 hour convenient and quality service to the clients ATMs allow rural folks access to cash with less cost and time as opposed to travelling to the commercial districts where most of the ATMs are located
Why RB Mabitac put up ATMs? ATM’s provide a new technology for RBs to expand its services ATM’s give RB’s prestige to be at par with our peer banks, particularly commercial banks ATM’s provide additional revenues of RB’s
TransacEons & Revenue Year Branches Transactions Revenue2009 (6 months) 2 32,879 165,0142010 (Full Year) 2 + 2* 56,506 306,6892011 (Jan to Apr) 4 20,855 120,664Total 110,240 592,377* Siniloan Branch installed in March 2010; Sta. Maria in December 2010