Japanese students study mobile phone banking for microfinance in the Philippines

JapA delegation of 23 development economics students from Chou University in Tokyo, Japan visited MABS and GM Bank in a study tour on mobile phone banking on September 4 and 8, 2009.

Led by Professor Mitsuhiro Hayashi, Ph. D., the students visited the country to learn about the effectiveness of mobile phone banking for microfinance services. Specifically, they wanted to determine whether mobile phone banking reduces transaction costs and improves access to financial services for both the banks and their clients.

Client of the GM Bank making a mobile phone banking transaction in the Laur Satellite Office.

Client of the GM Bank making a mobile phone banking transaction in the Laur Satellite Office.

The Chuo University delegation was given an overview of the Philippine Microfinance Industry and the Microenterprise Access to Banking Services and its mobile phone banking initiative. They also visited GM Bank to learn about their strategies, experiences and lessons learned in successfully implementing their mobile phone banking initiative.