One of the biggest challenges of this fledgling industry is a lack of skills. The deployment and operations of Mobile Money solutions requires a diverse set of skills almost never present in one individual nor in one company. Diverse knowledge and experience is needed covering the following areas of specialisation in order to successfully deploy mobile financial services:
- High volume and secure transactional systems
- Marketing and distribution skills
- Regulatory expertise
- Skills related to fraud management
- Operational expertise of a new generation of banking systems
- Management of banking functionality (reporting, treasury functions etc.)
In order to grow the industry, it is critical that we should produce more and more skilled professionals that can build companies and run operations. One idea that was born in Dubai and that I think is essential to ensure a vibrant industry is to establish an Academy for Mobile Money. Hopefully someone will see this gap and start working at filling it.
One of the biggest challenges of this fledgling industry is a lack of skills. The deployment and operations of Mobile Money solutions requires a diverse set of skills almost never present in one individual nor in one company. Diverse knowledge and experience is needed covering the following areas of specialisation in order to successfully deploy mobile financial services:
2 comments:
Hans, agree. There has been as such a larger void in terms of new media management or telecoms management courses as such. Would it be a good idea to set up such an academy online(maybe bricks later) and would you like to play some kind of a role in it?
Rgds
Kaustuv
Hans,would agree with you if we are looking from the telco perspective. Why? Why would telco be encroaching into the financial services and hence having to develop the expertise that is required in the banking domain.
We have seen the celco/telco going into ecommerce when their role is to provide the infrastructure and facilitate ecommerce. Is there a success story when telco deviate from their core business.
Probably they are in cloud nine when the mobile content business is flourishing. Of course revenue is made by squeezing the content provider base on revenue sharing without having adding any value to the process.
So in mobile payment I believe telco should stick to their core business and just facilitate the business.
Of course there's money to be made with the right role in the value chain.
Heres a quote from the Governor Central Bank of Malaysia "A shared integrated network with common security standard and common messaging standards would make it easier, more cost-effective and more convenient for consumers, merchants and service providers to execute and receive payments, thereby increasing the attractiveness of the mobile network as a payment channel, she added" end quote.
I believe we should leverage on the existing infrastructure be it communication or banking security to provide mobile payment services rather than creating subset of each in both domain.
Regards
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