An encouraging assessment of m-banking in southern Africa
August 11th, 2007While perusing Balancing Act (Issue #365), I found a link to this story on m-banking in Namibia and Botswana, centered on an interview with First National Bank (FNB) cellphone banking CEO Len Pienaar. Among the quotes:
“In SA, we have a high density of banking options, such as ATMs, card-accepting devices, and even branches. In Namibia, for example, this is much lower and you have a huge rural population,” explains Pienaar.
He says the bank’s approach to cellphone banking has adapted to the needs of different countries, with customers in Namibia and Botswana having to register for mobile banking in-branch so they can be shown exactly how to use the technology.
“Mobile networks are well-established in most of the countries we are in, and the technology, such as SMSes, is well-known,” says Pienaar.
In the space of just a few lines, Pienaar has touched on many of the factors which will influence m-banking’s trajectory in Africa and elsewhere in the developing world: an awareness of what m-banking offers, relative to alternatives, the need for some hand-holding to get new users comfortable with the system, and the relative familiarity that people have with the technology (SMS) already. Sounds like a diffusion of innovations case study, and I mean that in a good way.
September 14th, 2007 at 4:22 pm
You might be interested in the work we have been doing in the Philippines to develop mobile phone banking applications utilizing the G-Cash platform to facilitate banking transactions as well as to promote mobile commerce opportunities for small merchants in the Philippines. Check out our website at www.mobilephonebanking.rbap.org or our videos on You Tube at www.YouTube.com/rbapmabs