YolandeVanWyk_6a

YolandeVanWyk_6a - Using technology Using to bank Africa to...

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Page 1 | 24 November 2011 | First National Bank – a division of FirstRand Bank Limited. An Authorised Financial Service Provider Using technology Using technology to bank Africa to bank Africa Lessons Lessons Yolande van Wyk Yolande van Wyk Head: Strategic Projects FNB Mobile and Transact Solutions
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Page 2 | 24 November 2011 | First National Bank – a division of FirstRand Bank Limited. An Authorised Financial Service Provider Topics A look at GSM and why it’s so successful in Africa Technologies typically available for mobile banking Typical business models for mobile banking A quick look at banking in Africa Mobile banking in Africa Other barriers to rolling out a successful solution Our lessons
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Page 3 | 24 November 2011 | First National Bank – a division of FirstRand Bank Limited. An Authorised Financial Service Provider Excuse me while I take my foot out of my mouth… “Everything that can be invented has been invented.” Charles H. Duell, Commissioner, U.S. Patent Office, 1899 “The wireless music box has no imaginable commercial value. Who would pay for a message sent to nobody in particular?” David Sarnoff’s associates in response to his urgings for investment in the radio in the 1920’s “This ‘telephone’ has too many shortcomings to be seriously considered as a means of communication. The device is inherently of no value to us.” Western Union, internal memo, 1876
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Page 4 | 24 November 2011 | First National Bank – a division of FirstRand Bank Limited. An Authorised Financial Service Provider …and put the other one in Vodacom's initial growth projections catered for 250,000 subscribers within ten years. Vodacom’s initial projections for the number of prepaid customers was 50 000 Coopers & Lybrand estimated 160,000 - 220,000 subscribers by the year 2002 M-Net Communications Technologies CE Ian Wilkinson calculated a potential base of 300,000 - 500,000 subscribers by 2004
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Page 5 | 24 November 2011 | First National Bank – a division of FirstRand Bank Limited. An Authorised Financial Service Provider The ultimate disruption In 2004 Africa added almost 15 million new mobile cellular subscribers to its subscriber base; Equivalent to the total number of (fixed and mobile) telephone subscribers on the continent in 1996, just eight years earlier 1 ; Only 8% of people in Africa use a mobile phone but 52% of the population in low income countries as a whole live in areas with wireless reception 2 ; This difference fuels the expectation that growth will continue at rapid rates, with some analysts predicting that there will be close to 200 million mobile subscribers in Africa by 2010 3 .
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This note was uploaded on 11/24/2011 for the course ECON 345 taught by Professor Jakiela during the Fall '11 term at Maryland.

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YolandeVanWyk_6a - Using technology Using to bank Africa to...

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