Filipinas_Unbanked.ppt - Telcos Extending Financial Access...

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Telcos Extending Financial Access to the Unbanked: The Philippine Experience September 2007 Rizza Maniego-Eala
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2 Traditional m-Banking Exists Although interaction with bank is already mobile, still constrained by physical branch infrastructure often dictating product and pricing rules Cost and pricing structure still prohibitive to “unbanked” and underbanked” Requires constant physical presence even long after establishment of account Existing service still geared to the “banked” market Transactions more on account management and info Traditional m-Banking exists as a channel extension strategy implemented by bank as an addition to: physical branches ATM networks internet or on-line access
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3 Non-Traditional m-Banking Opportunity The Philippines is geographically fragmented; substantial portion of population in remote rural areas 80% of the Philippine population remains unbanked / underbanked often traveling far to make a simple financial transaction Commercial banks still have very limited reach to remote areas -------------------------------------------------------------- There are 42M mobile subscriptions Mobile network infrastructure and distribution system are well developed even in the remotest areas The average mobile user is accustomed to loading and sharing airtime credit over-the-air and is comfortable with mobile phone’s security features -------------------------------------------------------------- Globe has high transaction processing capability Globe has well developed sales force and business development capability across the Philippines
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4 Answer to Opportunity : GCash Transforming a mobile phone into a wallet , enabling subscribers access to a cashless and card-less method of facilitating money transfer with just a text message Enable remote payments
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