Microfinance and Mobile Banking: Blurring the Lines?
نویسنده
چکیده
to emerge in the Philippines. After being in the wholesale microfinance lending business for two years, BanKO (which is licensed as a savings and thrift bank) was ready to jump into retail microfinance by using the mobile phone as its main channel. With years of experience at Bank of the Philippine Islands (BPI), Chief Executive Officer (CEO) Teresita Tan knew all too well the high cost of branch operations and recognized that leveraging the mobile phone would be critical to successfully establishing a lowcost business that was scalable.1 What emerged was a new microfinance bank that offered customers payment, savings, credit, and insurance products accessible primarily over the mobile phone and at BanKO’s 2,000 partner outlets. As a customer builds a savings history, she qualifies for loans that are directly disbursed into her BanKO account without any prior in-person due diligence.
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