Comments on: How do you link microfinance with mobile banking? http://technology.cgap.org/2009/07/16/how-do-you-link-microfinance-with-mobile-banking/ How can technology increase the reach of microfinance? Mon, 06 Feb 2012 18:55:24 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: T. Omwansa http://technology.cgap.org/2009/07/16/how-do-you-link-microfinance-with-mobile-banking/comment-page-1/#comment-1211 T. Omwansa Fri, 07 Aug 2009 11:21:55 +0000 http://technology.cgap.org/?p=1154#comment-1211 Its certainly a step forward. Its where M-Pesa began before it shifted focus to remitances. I have seen it work well for users who are relatively well to do. I wonder how the model would work for users who live on less then $2.00 a day. Are transaction fees inhibitive? Is there a way to create a model for the very poor? T. Omwansa Its certainly a step forward. Its where M-Pesa began before it shifted focus to remitances. I have seen it work well for users who are relatively well to do.

I wonder how the model would work for users who live on less then $2.00 a day. Are transaction fees inhibitive? Is there a way to create a model for the very poor?

T. Omwansa

]]> By: Shaun Campbell http://technology.cgap.org/2009/07/16/how-do-you-link-microfinance-with-mobile-banking/comment-page-1/#comment-1210 Shaun Campbell Fri, 07 Aug 2009 11:12:06 +0000 http://technology.cgap.org/?p=1154#comment-1210 I absolutely suppport Cameron's work in linking MFIs to mCommerce solutions. This is also the work that we at Sybase are delivering across Africa with a number of regional projects, all of which are indepdendent mCommerce solutions and not MNO led. The projects also take this further by providing an ASP & interbank switch for MFIs to run the MIS system needed for such integration. Most MFIs/SACCOs do not have the appropriate technologies in place to enable m-MFI (as I call it) nor are they normally connected to the baning world/POS/ATM networks. This approach solves the IT and connectivity problem. With the Sybase solutions the MFI / SACCO member can pay individual or group loans from the handset (m-Wallet or linked account), open accounts at an agent location, be alerted to failures in group loan repayments, run mBanking on MFI/SACCO accounts and manage bill payments, tax payments, merchant / corporate payments straight from MFI/SACCO accounts. Accounts can be linked to the mWallet and sweeping is enabled between the mWallet and the MFI account, in case the mWallet reaches its stored value limit. In the pipeline, basic / generic MFI & SACCO loan applications are to be available at agent locations with KYC/verification done at the back office. Lots of helpful facilities here for all MFIs/SACCOs in the regions that we are working in (eastern, southern, south, western, northern and central Africa) with open & agnostic mCommerce solutions. Regards, Shaun I absolutely suppport Cameron’s work in linking MFIs to mCommerce solutions.

This is also the work that we at Sybase are delivering across Africa with a number of regional projects, all of which are indepdendent mCommerce solutions and not MNO led.

The projects also take this further by providing an ASP & interbank switch for MFIs to run the MIS system needed for such integration. Most MFIs/SACCOs do not have the appropriate technologies in place to enable m-MFI (as I call it) nor are they normally connected to the baning world/POS/ATM networks. This approach solves the IT and connectivity problem.

With the Sybase solutions the MFI / SACCO member can pay individual or group loans from the handset (m-Wallet or linked account), open accounts at an agent location, be alerted to failures in group loan repayments, run mBanking on MFI/SACCO accounts and manage bill payments, tax payments, merchant / corporate payments straight from MFI/SACCO accounts. Accounts can be linked to the mWallet and sweeping is enabled between the mWallet and the MFI account, in case the mWallet reaches its stored value limit.
In the pipeline, basic / generic MFI & SACCO loan applications are to be available at agent locations with KYC/verification done at the back office.

Lots of helpful facilities here for all MFIs/SACCOs in the regions that we are working in (eastern, southern, south, western, northern and central Africa) with open & agnostic mCommerce solutions.

Regards,
Shaun

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