Microfinance Institutions Benefit Most from Mobile Banking in Mature Markets

Aug 22, 2013, 18:12 ET from CGAP

WASHINGTON, Aug. 22, 2013 /PRNewswire-USNewswire/ -- New research from the Consultative Group to Assist the Poor (CGAP) finds that microfinance institutions (MFIs) and their customers can derive clear benefits from integrating with mobile banking services. However, MFIs are not yet playing a driving role in the adoption of mobile banking. Instead, MFIs successful in using mobile banking are located in mature markets where mobile and agent infrastructures are already established and where customers are experienced with viable mobile payments solutions. The benefits of mobile banking services to MFIs largely depend on the success of the existing mobile banking service itself: in markets where mobile banking is strong, MFIs and their customers can more easily benefit.

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In a new paper, Microfinance and Mobile Banking: Blurring the Lines, CGAP presents the experiences of MFIs around the world have had with mobile banking, analyzes the obstacles and highlights the successes. Read the paper in its entirety at CGAP.org.

You can join the report authors, Sarah Rotman and Michel Hanouch, in a live web chat to discuss how MFIs can best leverage mobile banking on Tuesday, 27 August, 10 AM EDT. Register and submit questions in advance or join in real-time at CGAP.org.

Contact: Erin Scronce, escronce@worldbank.org