mFino talks about the intersection of Microfinance, Agent Banking & Mobile Money for Financial Inclusion in Africa at the 4th Mobile Money Expo, Nigeria.

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Exploring the Intersection between
Microfinance, Agency Banking &
Mobile Money
in Africa for Financial Inclusion

2. © 2014 mFino Ltd.| All Rights Reserved |Confidential
Financial Inclusion
Finance is not an end by itself but a
means to help solve significant
development challenges in order to
improve the lives of people
Financial Inclusion helps to make
basic, essential services and utilities
like energy, health, education, and
water more accessible to people at
the bottom of the economic pyramid
Access to affordable financial services
helps in overcoming poverty, reducing
income disparities, and contributes
towards overall social and economic
development (GDP Growth)

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Mobile Financial Services (Mobile Money)
Value is stored in electronic form in mobile
phones which can be used to purchase
airtime, transfer funds to others, make
payments and receive bulk payments (e.g:
G2P Payments)
Mobile Money Capabilities
• P2P Transfer/ Remittance
• Banking
• Commerce
• Payments
• Top-ups and many more

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Mobile Money in Africa
Africa has more than 800 million
mobile subscribers
Africa leads the world with 117 out
of the total 220 Mobile Money
deployments in the world
Mobile Money Services
1. Airtime Purchase
2. P2P Transfer
3. Pay Bills
4. Receive Bulk Payments
Currently, Mobile Money technology is perceived as a Money Transfer
solution
According to GSMA, 1% increase in
mobile penetration contributes to
over 6% growth in the region’s
GDP, higher than any other region
globally, and this is forecasted to
rise to over 8% by 2020

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Microfinance in Africa
Low bank penetration and a very large
informal sector, Africa is a fertile ground for
microfinance
Benefits for MFI Customers
1. Access to savings, credit & insurance
2. Affordable and secure services
3. No collateral required
4. Helps in employment & wealth creation
5. Plan for lifecycle needs – retirement,
medical, education, marriage, funeral etc
Main Challenges of MFIs in Africa
1. High cost of delivering services
2. Security risk
3. Fraud
4. Lack of adequate back office capabilities

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Agency Banking (Branchless Banking)
The delivery of financial services outside conventional bank
branches through the use of retail agents and information and
communications technologies to transmit transaction details.
Branchless Banking involves:
• Use of technology to identify customers and record transactions
electronically
• Use of outlets such as post offices and small retailers, that act as
agents for financial services providers
• Offer of at least basic cash deposit and withdrawal in addition to
transactional or payment services
• Backing of a government-recognized, deposit-taking institution, such
as a formally licensed bank
• Structuring of the above so that customers can use these banking
services on a regular basis (available during normal business hours)
and without needing to go to bank branches at all

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Banks & Financial Institutions
Agent Agent Agent
Customers Customers Customers
Delivering Financial Services through Agents via Mobile Phones
Mobile Agents & Stationary Agents New sources of revenue for agents

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Mobile Money
Microfinance
Agency
Banking
Financial
Inclusion
P2P Transfer
Airtime Top-ups Bill Payments
Receive Bulk
Payments
Savings
Micro-credit
Micro-insurance
Banking Products
& ServicesEmployment &
Wealth Creation
Asset Creation &
Quality of Life
Affordable, Convenient & Secure
Intersection of Mobile Money, Microfinance & Agency Banking

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Intersection of Mobile Money, Microfinance & Agency Banking
Benefits for Customers
1. Cash remains within the system
2. Helps in better money management
3. Helps in building a corpus for future lifecycle needs
(asset creation)
4. Helps in building a credit history and improving
borrowing power
5. Access to wide range of financial services
6. Business expansion
7. Financial literacy and access to information
8. Mobile Marketplace will help farmers to buy fertilizers
during off-season at a discount, get to know prices of
commodities, helps in accepting payments for sale and
making payments for purchases
9. Help to improve access to utilities and essential
commodities like water, energy, education, health etc
e.g: automatic water dispensers (pay & use), prepaid
electric meters etc
10. Helps to lead a better quality of life

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Mobile is the gateway to Financial
Inclusion

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Innovative Mobile Financial Products & Services
• Cash-in/Cash-out at agent
• Savings
• Credit
• Insurance
• P2P Transfer
• Bill Payments
• Online Payments
• Merchant Payments
• Airtime Top-ups
• Ticket Booking
• Remittances
• Cardless ATM Access
• Loyalty Points
• Salary Credit
• Offers
• Welfare Payments

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mFino MFS platform ensures that
cash remains within the system
The platform connects both the
source and destination with an
integrated first mile to last mile
mobile wallet
All sources of funds can be routed
to the mobile wallet and payments
can be made using the mobile
mFino Mobile Financial Services Platform
Any Phone Any Payment Method Any Channel

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Questions..???

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Thank You!!