Microfinance Reports

Study on MFI Usage of Mobile Banking released

In late 2012 Triple Jump Advisory Services, in collaboration with MicroFinance Opportunities (MFO), conducted a global study with the aim of allowing it’s MFI portfolio partners share their experiences in offering a mobile banking service with other practitioners and allow Triple Jump to see how they could support their MFI partners with grants for advisory services.

The online survey, presented in English, Spanish and French, was sent to 125 MFIs, of which 73 responded: 35 from Latin America and the Caribbean, 18 from Sub-Saharan Africa, 17 from Europe and East and Central Asia, and 3 from the Middle East and North Africa.

Mobile Banking Usage among Microfinance Institutions – Report

microfinance study mobile banking

The report can be downloaded at the link below :

Mobile Banking Survey PDF

The results of the survey show that a small percentage of MFIs are currently offering services via mobile phones, and that a very large percentage of MFIs are interested and planning to do so in the near future. The results also show that the majority of participants stated that the overriding reason for offering mobile banking services was to improve client outreach and service delivery, by reducing costs and creating a more affordable solution for clients. As institutions explore and implement mobile banking, it is crucial that they deploy a thorough methodology that helps them determine why, when, with whom and how to launch a mobile banking channel.

Mobile Phone Banking

Deploying a mobile phone banking channel is a complex task that requires business and technological expertise. As we have seen from the results of our survey, MFIs have started seeing the benefits of the new channel but also continue to face a wide variety of challenges, especially related to the technology.

Nevertheless, the potential of mobile phone banking is great, and the results of this survey show that MFIs of various types from across the globe have either already deployed mobile phone banking or are very interested in doing so in the near future. If new deployments are to be successful however, MFIs will need to follow already established best practices for launching mobile phone banking systems, and heed the lessons learned by those who have preceded them.

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