Timetric Retail Banking Reports
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Mobile Banking in Emerging Markets
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- Mobile banking
- Emerging markets
- Smart money
- Succeeding in mobile banking
- Mobile banking and financial inclusion
- Mobile banking forecasts
- Central Bank of Bangladesh
- Trust Bank, Limited
- Eastern Bank, Limited
- Dhaka Bank, Limited
- Reserve Bank of India
- ICICI Bank
- HDFC Bank
- State Bank of Pakistan
- Tameer Microfinance Bank, Limited
- United Bank Limited, Pakistan
- Smart Money
- G-Cash
- WIZZIT
- MTN MobileMoney
Synopsis
- Mobile banking is steadily gaining recognition in emerging markets with the continuous increase in the number of mobile users – as much as by 100% in just 12 months in China, Brazil, and Kenya according to the latest available data in 2010. While it is seen as an additional and alternative banking channel, in particular as a convenient extension of the online banking experience in developed countries, mobile banking is also considered as an efficient channel to integrate the unbanked population in emerging markets into the banking system.
- Mobile banking is a significant entry point for millions of unbanked, especially in countries where traditional banking infrastructure is poor and often insufficient to meet the needs of the clientele due to the instant and convenient access to financial services that it offers to the unbanked. Excellent examples of such cases are in Africa, where almost every person owns a mobile phone, but very few have access to banking, either due to geographical hindrance or financial.
Details
- Product code: VR0717MR
- Published: June 1, 2011
- 95 pages
- Single-user: $3800
- Site License: $7600
- Enterprise License: $11400
- Terms & Conditions
Executive summary
Mobile banking success stories from emerging markets include M-PESA in Kenya, G-Cash and Smart Money in the Philippines and WIZZIT in South Africa – cases which prove that the mobile banking industry is indeed on the right path towards leading most emerging markets and developing countries to improved and successful economic growth. Moreover, with two of the most important industries in any country teaming up – the financial and the information and communication technology sectors – mobile banking is set to overcome any economic challenge or downturn.
The rate of mobile phone users and subscribers, as well as mobile phone ownership, in any country is significant in measuring mobile banking adaptation and usage. Similarly, the number of unbanked individuals and the demographic characteristics of a given market also play a role in the success of mobile banking. These two segments are the primary target markets of the mobile banking industry.
Scope
- It is difficult for banks in developed regions to expand their services into emerging markets and keep costs down. Mobile banking presents the perfect solution to this problem, as it is cost effective and many people in emerging markets now own mobile phones.
- This VRL research report provides an overview of the mobile banking market in developing countries and provides new data and insight into the companies currently operating in them.
Key highlights
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Reasons to buy
- Investigate the commercial potential of mobile in emerging markets
- Build the business case for entering emerging markets
- Explore the various mobile banking models
- Gain a clear understanding of the mobile banking industry
- Read the latest case studies from around the world
Table of contents
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List of tables
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List of figures
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