Monday, August 06, 2012

Mobile banking could boost economic growth according to World Bank

The World Bank recognized the important role that mobile banking can play in the fight against global poverty. (Read here). Research based on a poll of
150 000 people in 148 countries, shows that 2.5 billion people do not have bank accounts. This is 59% of the population in developing countries.

Some of the biggest reasons why people don't have bank accounts are the high cost of traditional banking products, the distance that must be travelled to get to banks and amount of paper work involved in opening accounts. However, the report shows that these problems are increasingly being tackled with mobile phones and that mobile banking is being used more and more to solve this problem. The impact of mobile banking in the fight against financial exclusion is visible and now recognised by the World Bank.
Or, as Robert Zoellick, president of the World Bank put it: "Providing financial services to the 2.5 billion people who are 'unbanked' could boost economic growth and opportunity for the world's poor. Harnessing the power of financial services can really help people to pay for schooling, save for a home, or start a small business that can provide jobs for others."


Country Research Report said...

Mobile banking useful for many things including Funds transfer,
Interbank Mobile Payment Services,
Enquiry services, Check book request, Demat Enquiry Service, Bill Payment, Mobile Top up, M Commerce Top up of Tata-Sky, Big-TV, SunDirect, DishTV, DigitalTV and Videocon d2h connections, SBI life insurance premium, etc. Today mobile banking is also useful for shopping in malls, stores.

vaas said...

hey guys.....i am doing project on Assessment of Mobile Banking in India as a part of my MBA program. please help me by taking part in my me @ for any suggestions or doubts.thank is given below:

vaas said...

hey part of my MBA project, i made this questionnaire on Assessment of Mobile Banking in India. please help me by filling it and pass it on to as many as possible. thank you. link is given below: