Mobile Banking

Selecting the right agents is critical to the success of a mobile banking initiative, especially during the most difficult introductory period as the solution seeks acceptance in its target market.

A decade ago it seemed clear that it was only a matter of time before mobile payments and mobile banking became a major part of the way in which poor people received financial services. This Briefing Note considers some of the key developments.

This e-bulletin focuses on the role of e/m-banking in fostering financial inclusion. There is growing consensus that e/m-banking offers a unique opportunity to address mainstream banks’ two major barriers to serving the low-income market: the need for a branch infrastructure and managing high volumes of low value transactions.

This note examines harnessing technology to optimise the delivery of remittance services – particularly for banks. It assesses the challenges for banks with the growing use of their core banking systems as a vehicle for remittances, and how they might transform these challenges into opportunities through using Banking Correspondents and e-/m-banking.