Tag: Mobile banking

The microfinance industry has traditionally seen poor people’s needs for financial services only as “credit for enterprise”. However, due to their various life cycle needs, low income clients need a range of “financial services” and not just the traditional mono-product of working capital loan. In response to this emerging need of the sector, growing numbers of financial institutions are developing and delivering a range of financial services customised to cater to client needs. This paper examines some of the products designed (many in collaboration with MicroSave) as a respond to these needs, as well as some of the innovative delivery processes currently under testing. It also reviews the MicroSave approach to product design. It concludes with comments on NABARD’s Kisan Credit Card and implications of the changing face of microfinance for the “massification” of financial services for the low income market in India.

This note discusses how falling costs of technology, competition and ability of electronic banking solutions to offer customers an enhanced range of services at very low cost is driving change.

In February 2004 MicroSave hosted a Virtual Conference on Electronic Banking for the Poor. This paper summarises the discussion which brought together 500 participants and generated 400 postings.

This note talks about the gains from various technologies such as ATMs, plastic cards, mobile phones, used by the present banking system to serve the people belonging to lower income.

This paper explains the structure of each of the mobile banking units in Kenya and their further evolution.