CHALLENGES

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CHALLENGES BENEFITS OF MOBILE PHONES, ATMS
MORE FOR MFIS NTMC 2009 April 3, 2009

• Ngozi Porter
• Accion Microfinance Bank
• .My future is bright

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Outline

• About Accion MfB
• Introduction
• Challenges Benefits of Alternative Access
  Points
• Some Success Stories

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About ACCION Microfinance Bank

• ACCION Microfinance Bank (AMfB) was established
  in Lagos in May 2006 and licensed by CBN in April
  2007
• Authorised share capital of N2 Billion and
  paid-up capital of N1Billion
• Shareholders are ACCION Investments,
  International Finance Corporation (IFC), SME
  Partners, CITI Bank, ECOBANK, and Zenith Bank.
• Our technical partners, ACCION International are
  a U.S based Non-Governmental Organization with
  over 45 years microfinance experience in Latin
  America, USA, Africa and Asia.

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Our Vision

• To be the market leader
• in the provision of microfinance
• and related financial services
• at world class standards

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Our Mission

• To economically empower
• micro-entrepreneurs
• and low income earners by
• providing financial services in a
• sustainable, ethical and profitable
• manner

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Our Positioning Statement

• The open door to a brighter future
• Access for real

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Introduction

• The advent of the Internet has revolutionized the
  way the financial services industry conducts
  business, empowering organizations with new
  business models and new ways to offer 24x7
  accessibility to their customers.
• The mobile and wireless market has been one of
  the fastest growing markets in the world and it
  is still growing at a rapid pace.
• According to the GSM Association and Ovum, the
  number of mobile subscribers exceeded 2 billion
  in September 2005, and now exceeds 2.5 billion
  (of which more than 2 billion are GSM).
• .

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Introduction
CGAP estimates a 41 loans to savings accounts
and approximately 150m active loans in
Alternative Financial Institutions World Savings
Bank Institute (WBSI) in a separate study which
includes savings banks counted 190m loan accounts.
Source CGAP Global Estimates www.cgap.com
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Introduction

• 80 of Nigerian Population remain unbanked
• The number of poor people that have access to
  credit is nowhere near the market potential.
• We can conclude that the battle to bring
  financial access to as many people as possible is
  a very long way from being won.

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Providing Access to Financial Services

• Via Alternative Access Points
• Automated Teller Machines (ATMs)
• Mobile Phones
• Point Of Sale Systems(POS)
• Personal Digital Assistants (PDA)
• Internet Banking
• Call Centers
• Mobile Banking
• .

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CHALLENGES BENEFITS
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CHALLENGES BENEFITS
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CHALLENGES BENEFITS
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CHALLENGES BENEFITS
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CHALLENGES BENEFITS
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CHALLENGES BENEFITS
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CHALLENGES BENEFITS
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The Case for Mobile Banking

• Clearly, with more than a billion people
  worldwide and over 70 of Nigerias 120million
  population lacking access to bank accounts, but
  most likely have mobile phones, Mobile Banking
  provides the most significant opportunity to
  achieve greater financial inclusion

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Some Success Stories

• M pesa Kenya
• Only Safaricom subscribers can send M-PESA, but
  anyone who can receive an SMS can receive money
  by MPESA. Customers do not need to have a bank
  account to benefit from M-PESA services.
• Wizzit - South Africa
• Low cost transactional bank account that uses
  cell phones for P2P transactions as well as
  Maestro card for retail payments
• MTN Mobile Banking - South Africa
• Only available to MTN contract subscribers with
  accounts in Standard Bank, ABSA and Nedbank

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Some Success Stories

• GCASh - Phillipines
• Gives Globe and TM subscribers access to a
  cashless and cardless method of facilitating
  money remittance, donations, loan settlement,
  disbursement of salaries or commissions, and
  payment of bills, products and services, with
  just a text message.
• SMARTMoney - Phillipines
• a re-loadable payment card that may either be
  accessed through a Smart mobile phone or a
  MasterCard powered card, similar to a debit/cash
  card
• Interswitch / eTranzact - Nigeria
• Provide mobile banking services on their
  platforms. Requires a bank account.

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Q A

• Thank You for Listening