News

01.14.2011

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La Rédaction

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Mobile banking: the best weapon against bank exclusion ?

Will mobile banking be the “killer app”, in other words the queen application to fight against bank exclusion ?

Sources : IndiaPRline (Axis) et Canada.com (KDD)

Will mobile banking be the “killer app”, in other words the queen application to fight against bank exclusion ? In India, a new alliance may revolutionize the access to bank services for those who were excluded until now. Axis the third private bank of the country is going to set up a whole range of services: credit, savings, fund transfer and micro insurance, accessible via the shops and the devices of the telco who already provides more than 70 mln clients in India.

According to one of the Axis managers in India “more than 70% of the adults have a mobile phone. The association with a telco is therefore the most appropriate choice.” The experience that will start by an experimentation in two specific regions, will more particularly allow fund transfers between member of a family separated by a long distance. The beneficiary does not need to have a bank account but only a sim card.

Mobile banking seems to be inspirational. In Japan, major telco KDD also recently announced its project to set up a mobile banking solution adapted to microfinance.

Traduction Seforah Benhamou

This article is part of the special report: