17 June 2009

Future Banks ~ Mobile Financial Services For Poor

Thanks to the BBC for spotting Africa Pioneers Mobile Bank Push, documenting CGAP's study that...
"Mobile financial services in the developing world could be worth $5bn by 2012... [...] More than one billion people in the developing world have access to a mobile phone, but no bank account. [...] The Consultative Group to Assist the Poor (CGAP) said it thought the number of people with access to a mobile phone, but no bank account, would to rise to 1.7 billion in 2012. It also expected more than one in five to use their mobile to access banking services, creating a market worth up to $5bn (£3.05bn)."
That's real money! And our MIT Development Ventures such as Dinube, MobilBanco/WAY Systems, Assured Labor, WiderReach/CellBazaar, Remesatel, and others are going to help lead the way!

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