News

  • Source : grameenfoundation

08.09.2011

|

Microfinance on mobile phones: an ambitious project in Indonesia

Source : Mobile Business Briefing

such a large distance, access to services is still difficult for rural populations, which are overwhelmingly excluded from banking services. The new mobile banking partnership, concluded between Fundamo, a supplier of financial services on mobile phone networks, and the Andara Bank could change that situation. This Indonesian bank is used to financing Indonesian microfinance institutions (MFIs) and will deploy its “Andarlink” network to facilitate microcredit implementation in the archipelago.

For Fundama, which supplies South African mobile banking services and has just been bought over by VisaCard, this is a godsend: Andara has big ambitions and intends to reach 40 million users, starting off by “connecting” 225 MFIs to its network by the end of the year.

This article is part of the special report: