RBAP-MABS mobile phone banking services highlighted in Global Summit

Taking its part in the promotion of effective use of modern technology in microfinance, MABS shared its mobile phone banking experiences during the M-Commerce World Summit 2010 held on March 17-18 in Singapore.

The summit covered mobile money transfer & mobile money remittance, mobile payment and NFC technologies, mobile banking, banking the unbanked & microfinance services, and mobile marketing and advertising. It has highly regarded expert speakers and panelist representing M-Commerce Ecosystem from Europe, Africa, Asia and the United States – including Philippines from Globe/GXI and the Microenterprise Access to Banking Services (MABS) Program.

MABS Regional Manager for Mindanao and Senior Management Information System Manager Anthony Petalcorin presented about how mobile money can be used in microfinance.  Centered on the Philippine rural banking experience, Mr. Petalcorin shared with the participants the roadmap in preparing microfinance institutions to promote mobile money and mobile financial services. He also discussed the business model used, issues and lessons learnt from pilot tests vis-à-vis operational, public acceptance & regulations, overcoming cash in & cash out constraints in the rural areas, and developing mobile m-commerce.

Paolo Baltao, G-Xchange, Inc.’s Product Group and International Remittance & Banking Business Development Head, also shared his perspective working in partnership with rural banks and showed a video of one of the most successful rural bank examples, the Cantilan Bank.

About 100 participants mostly from Asia and Africa attended the summit. It was the third since 2008 and was organized by Symphony Global, Pte, a Singapore-based event organizer.