The article says that the deployment of mobile financial services is a "strategic shift" for mobiel operators and an attempt to counter slowing subscriber numbers and reduction in profits. Big words coming from a major management consultancy. What I liked most about the article is all the numbers:
- For every 10,000 people, developing countries have one bank branch and one ATM—but 5,100 mobile phones.
- Mobile devices reduce the cost to serve customers with financial services by 50 to 70 percent
- About 45 million people without traditional bank accounts use mobile money, but predict that this number could rise to 360 million by 2012
- In less than three years, the opportunity could generate $5 billion annually in direct revenue