Session	  8:	         Consumer	  Educa2on	  Tools	  for	  Mobile	              Banking:	  The	  Phillipines	              ...
Preliminary Evaluation of ConsumerEducation Tools for Mobile PhoneBanking: The Philippines	  Craig Tower, Ph.D.Presented t...
Contents•  Project background•  The consumer education campaign•  Research, results and potential future   uses3   © Micro...
Project background4   © Microfinance Opportunities 2011
Consumer Education for Branchless            Banking (CEBB)5   © Microfinance Opportunities 2011
What is Consumer Education (CE)?Teaches the Knowledge, Skills and Attitudes            (KSAs) required to:•  Adopt good mo...
Program Objectives•  Determine how Consumer Education:    • Can increase uptake and use of Branchless      Banking service...
Why Consumer Education Matters                                                        Increase	  	    Product	  use	      ...
Global Project Locations•  Philippines,   India, Zambia,   Malawi•  Mobile phone   banking•  Smart cards9   © Microfinance...
In the PhilippinesWorking with:Microenterprise Access toBanking Services (MABS)Rural Bankers Association ofthe Philippines...
The consumer education campaign11   © Microfinance Opportunities 2011
Consumer Education Campaign                                                                                             Kn...
From Learning Objectives to CE tools     1.    Awareness     2.    Knowledge     3.    Attitudes     4.    Skills         ...
Awareness:	                                     Exposure	  to	  a	  new	  technology	  and	  basic	                       ...
Poster and table tent15   © Microfinance Opportunities 2011
Understanding	  that	  enables	  customers	  to	  	  Knowledge:                                 decide	  about	  use	  of	...
Starter Kit for clients17   © Microfinance Opportunities 2011
Attitudes: Thoughts,	  fmobile	  phone	  banking	  hat	  mupport	               the	  use	  of	                           ...
Skills: Money                           What	  consumers	  must	  be	                                           able	  to	...
Skills: Money                           What	  consumers	  must	  be	                                           able	  to	...
Starter Kit: How to read your SMS21   © Microfinance Opportunities 2011
Starter Kit: Tracking your                       transactions22   © Microfinance Opportunities 2011
Research, results, and potential uses23   © Microfinance Opportunities 2011
Research methodology•  Conducted with 1st Valley Bank•  Sample:     •  1 pilot branch with CE tools;     •  1 comparison b...
Preliminary Results     •  Branch staff     •  Merchants     •  Clients25   © Microfinance Opportunities 2011
Branch staff•  Facilitates   marketing•  Focuses   messaging and   knowledge   transfer•  Builds   partnerships   and leve...
Merchants•  Engages   merchants   in marketing•  Provides   reference   tool•  Provides   visual   evidence of   bank   pa...
Clients•  Facilitates   understanding   of service•  Provides   reference tool28   © Microfinance Opportunities 2011
Challenges•  Interest triggered by CE tools   must be nurtured by bank•  Client age, disability, or lack of   access•  Cli...
The Limits of Consumer Education                                                       Increase	  	  Product	  use	       ...
Operational issues     •  Limited number of cash        conversion outlets     •  Limited operating hours     •  Lack of l...
Potential for future uses•  Targeted marketing:     •  To entrepreneurs     •  To students and        parents     •  To sa...
Thank you                     Craig	  Tower,	  Ph.D.	                       craigt@mfopps.org	                       	    ...
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Preliminary Evaluation of Consumer Education Tools for Mobile Phone Banking: The Philippines

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Microfinance Research Officer Craig Tower presents the preliminary results of the outcomes assessment of the Financial Education for Branchless Banking Project during the 2012 RBAP-MABS National Roundtable Conference on June 8.

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Preliminary Evaluation of Consumer Education Tools for Mobile Phone Banking: The Philippines

  1. 1. Session  8:   Consumer  Educa2on  Tools  for  Mobile   Banking:  The  Phillipines   Craig Tower Microfinance Opportunities   2012 RBAP-MABS National Roundtable Conference June 7-8, 2012 Hyatt Hotel & Manila  
  2. 2. Preliminary Evaluation of ConsumerEducation Tools for Mobile PhoneBanking: The Philippines  Craig Tower, Ph.D.Presented to the MABS NRTJune 8, 2012
  3. 3. Contents•  Project background•  The consumer education campaign•  Research, results and potential future uses3 © Microfinance Opportunities 2011
  4. 4. Project background4 © Microfinance Opportunities 2011
  5. 5. Consumer Education for Branchless Banking (CEBB)5 © Microfinance Opportunities 2011
  6. 6. What is Consumer Education (CE)?Teaches the Knowledge, Skills and Attitudes (KSAs) required to:•  Adopt good money management practices•  Address challenges with the use of BB services6 © Microfinance Opportunities 2011
  7. 7. Program Objectives•  Determine how Consumer Education: • Can increase uptake and use of Branchless Banking services (BB). •  Combined with BB help low income people improve their financial well being.7 © Microfinance Opportunities 2011
  8. 8. Why Consumer Education Matters Increase     Product  use   Increase  in   Money   uptake  and   KSAs   financial   management   usage  of   (leverage   well-­‐being   KSAs   branchless   technology)   banking   MoneyManagement KSAs 8 © Microfinance Opportunities 2011
  9. 9. Global Project Locations•  Philippines, India, Zambia, Malawi•  Mobile phone banking•  Smart cards9 © Microfinance Opportunities 2011
  10. 10. In the PhilippinesWorking with:Microenterprise Access toBanking Services (MABS)Rural Bankers Association ofthe Philippines (RBAP)GM Bank, LuzonCantilan Bank, Mindanao1st Valley Bank, MindanaoObjective:Increase uptake and use of amobile wallet for bankingtransactions10 © Microfinance Opportunities 2011
  11. 11. The consumer education campaign11 © Microfinance Opportunities 2011
  12. 12. Consumer Education Campaign Knowledge,   Skills, and Awareness     Attitudes Raising   Direct  Training   Prac2ce  by   Reinforcement   customer   Customer Use12 © Microfinance Opportunities 2011
  13. 13. From Learning Objectives to CE tools 1.  Awareness 2.  Knowledge 3.  Attitudes 4.  Skills - money management - product use13 © Microfinance Opportunities 2011
  14. 14. Awareness:   Exposure  to  a  new  technology  and  basic   understanding  of  its  purpose  Poster for branchstaff andmerchants   14 © Microfinance Opportunities 2011
  15. 15. Poster and table tent15 © Microfinance Opportunities 2011
  16. 16. Understanding  that  enables  customers  to    Knowledge: decide  about  use  of  the  technology   Flip book for bank staff16 © Microfinance Opportunities 2011
  17. 17. Starter Kit for clients17 © Microfinance Opportunities 2011
  18. 18. Attitudes: Thoughts,  fmobile  phone  banking  hat  mupport   the  use  of   eelings  and  opinions  t s to   anage   money  effec=vely    Starter Kit – How to get help 18 © Microfinance Opportunities 2011
  19. 19. Skills: Money What  consumers  must  be   able  to  do  to  try  out  mobile  Management and phone  banking  and  use  it   Product Use effec=vely    Starter Kit - Find the money to save19 © Microfinance Opportunities 2011
  20. 20. Skills: Money What  consumers  must  be   able  to  do  to  try  out  mobile  Management and phone  banking  and  use  it   Product Use effec=vely    Starter Kit – How to use Text-A- Deposit20 © Microfinance Opportunities 2011
  21. 21. Starter Kit: How to read your SMS21 © Microfinance Opportunities 2011
  22. 22. Starter Kit: Tracking your transactions22 © Microfinance Opportunities 2011
  23. 23. Research, results, and potential uses23 © Microfinance Opportunities 2011
  24. 24. Research methodology•  Conducted with 1st Valley Bank•  Sample: •  1 pilot branch with CE tools; •  1 comparison branch without tools•  Qualitative in-depth interviews •  Useful for assessing pilot program Segment   Pilot  (Zamboanga)   Comparison  (Ipil)   Clients   12   14*   Merchants   4   4   Branch  staff   6   3   *  3  merchants  interviewed  as  clients.  24 © Microfinance Opportunities 2011
  25. 25. Preliminary Results •  Branch staff •  Merchants •  Clients25 © Microfinance Opportunities 2011
  26. 26. Branch staff•  Facilitates marketing•  Focuses messaging and knowledge transfer•  Builds partnerships and leverages trust in rural bank26 © Microfinance Opportunities 2011
  27. 27. Merchants•  Engages merchants in marketing•  Provides reference tool•  Provides visual evidence of bank partnership27 © Microfinance Opportunities 2011
  28. 28. Clients•  Facilitates understanding of service•  Provides reference tool28 © Microfinance Opportunities 2011
  29. 29. Challenges•  Interest triggered by CE tools must be nurtured by bank•  Client age, disability, or lack of access•  Client inability or lack of interest in saving29 © Microfinance Opportunities 2011
  30. 30. The Limits of Consumer Education Increase    Product  use   Increase  in   Money   uptake  and   KSAs   financial   management   usage  of   (leverage   well-­‐being   KSAs   branchless  technology)   banking   Opera=onal   issues   30 © Microfinance Opportunities 2011
  31. 31. Operational issues •  Limited number of cash conversion outlets •  Limited operating hours •  Lack of liquidity of agents •  Network outages31 © Microfinance Opportunities 2011
  32. 32. Potential for future uses•  Targeted marketing: •  To entrepreneurs •  To students and parents •  To salaried employees•  Promoting related innovations •  ATM debit cards32 © Microfinance Opportunities 2011
  33. 33. Thank you Craig  Tower,  Ph.D.   craigt@mfopps.org     Special thanks to: John Owens (MABS); Cheryl Balingit (MABS); Jing Gusto (Consultant); Elda Montero and ARMDEV; And the staff, merchants and clients of 1st Valley Bank branches in Zamboanga City and Ipil33 © Microfinance Opportunities 2011

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