Technology Changing The Face Of Microfinance

Technology Changing the Face of Microfinance John V. Owens Inter-Pacific Bar Association April 30, 2009

New Technologies ,[object Object],[object Object],[object Object],[object Object],[object Object]

Personal Digital Assistants (PDAs)

Personal Digital Assistants ,[object Object],Several microfinance institutions (MFIs) worldwide are now using PDAs in their operations. In 2000, a MABS participant bank in Mindanao piloted the use of PDA for their daily and weekly collections.

Advantages of using PDAs ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Cost of Supplies RECEIPT AMT. PDA AMT. ,[object Object],7, 920 ,[object Object],79 ,[object Object],112 ,[object Object],930 ,[object Object],420 ,[object Object],45 ,[object Object],30 ,[object Object],280 ,[object Object],140 ,[object Object],2,500 ,[object Object],162 Sub-Total PhP 9,287 Sub-Total PhP 3,331

Cost of Salaries and Wages RECEIPT based AMT. PDA based AMT. ,[object Object],1,440 ,[object Object],360 ,[object Object],3, 825 ,[object Object],765 Sub-Total 5,265 Sub-Total 1,125 GRAND TOTAL PhP 14,552 GRAND TOTAL PhP 4, 456

Point-of-Sale Devices ,[object Object],[object Object],[object Object],[object Object]

Point-of-Sale Devices ,[object Object]

[object Object],[object Object],[object Object],[object Object],TYPES OF TRANSACTIONS Point-of-Sale Devices

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],KEY FINDINGS Point-of-Sale Devices

COST COMPARISON: BRANCH, ATM, CA IN PERU Source: Superintendence of Bank of Peru

BRANCH VS. AGENT COST COMPARISON Remote Transaction System (RTS) at Uganda Microfinance Limited Source: Alice Lu USAID/Washington Presentation Branch RTS Agent Model Set-up costs [1] $40,000–$60,000 $1,500 Monthly operating expenses [2] $7,000–$10,000 $3,550 Other expenses [3] $2,000 $100

Technology: Smart Cards ,[object Object],[object Object],[object Object],[object Object],[object Object]

Smart Cards PRODEM Case Study ,[object Object],[object Object],[object Object],[object Object]

Automated Teller Machines (ATMs)

Smart ATMs PRODEM Case Study ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Third-Party ATM Networks ,[object Object],[object Object],[object Object],[object Object]

Online Funding Platforms ,[object Object],[object Object],[object Object]

Success of Online Lending & Investing ,[object Object],[object Object],[object Object],[object Object]

What this means for MFIs ,[object Object],[object Object],[object Object],[object Object],[object Object]

Issues with Online Lending Platforms ,[object Object],[object Object],[object Object],[object Object],[object Object]

Technology Solution: Mobile Phone Banking

Challenges for Banks to reach Rural Clients ,[object Object],[object Object],[object Object],[object Object],[object Object], E-Money  E-Money E-Money Creating Opportunities to meet the Challenge ,[object Object],[object Object],[object Object],[object Object]

Microenterprise Access to Banking Services www.rbapmabs.org

The Case for Mobile Phone Banking Internet Banking ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],ATMs Mobile Phone Banking

Why Choose this Technology? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

M-Banking & M-Money Services Environment Product Testing Customer Perspective Regulatory Issues Institutional perspective Launch Services – Customer Adoption Product Development

Launch Proposition SJL -WWB 19-06-07

Mobile Money in the Philippines Microenterprise Access to Banking Services Program www.rbapmabs.org

Rural Bank M-Banking & M-Commerce Ecosystem via GCash Text-A-Sweldo (Salary Disbursement) Text-A-Remittance Cash-in/Cash-out (Face-to-Face Wallet Funding) Text-A-Credit (Loan / Credit Disbursement) Text-A-Withdrawal (Withdrawal from Bank Account to GCash Wallet) P2P (Purchase of Goods /Services) Text-a- BillPay (Bills Payment) P2P (Domestic Remittance) GCash2Load (Airtime Credit Purchase) Text-A-Payment (Loan payment) Rural Bank Intl. / Dom Remco’s P Text-A-Deposit (Deposit to Bank Account)

GREEN BANK GREEN BANK www.greenbank.com.ph Green Bank’s Mobile Phone Banking

Mobile Phone Banking Clients Paying less through Text GREEN BANK GREEN BANK GREEN BANK www.greenbank.com.ph

Benefits of M-Banking & M-Commerce ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]

Future Direction for the Microfinance Industry ,[object Object],[object Object],[object Object]

Thank You [email_address] Websites: www.rbapmabs.org www.mobilephonebanking.rbap.org www.youtube.com/RBAPMABS

Technology Changing The Face Of Microfinance

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Technology Changing The Face Of Microfinance