Rural Banks expanding Mobile Phone Banking Services via local merchants

Seven of the country’s leading rural banks participated in a senior management consultation meeting to support the expansion of mobile phone banking services under the USAID-supported RBAP-MABS Program held at the RBAP Office in Manila on August 25. Building on the current achievements and outreach of the rural banks in providing mobile phone banking services, the Mobile Phone Banking – Channel Management, was introduced to the rural banks to support, sustain and manage their efforts in providing greater access to banking services in the countryside via mobile money and mobile money cash-in and cash-out outlets (CICOs).
This new initiative aims to demonstrate the effectiveness of applying channel management approaches in mobile phone banking by engaging mobile money CICOs as merchant partners of the banks. Working with mobile money CICOs as partners is expected to significantly expand and increase the availability of mobile money to support mobile phone banking transactions of rural bank clients. In the process, participating rural banks will improve their capability to profitably service their customers particularly in rural and remote areas.
Top officers and representatives from Agribusiness Bank, Bangko Kabayan, Cantilan Bank, First Valley Bank, Green Bank, GM Bank, and PR Bank interacted with officers from the RBAP-MABS Program, Mercy Corps, MICRA Philippines, and USAID. They discussed trends, opportunities, and issues on mobile phone banking and channel management of mobile money CICOs as merchant partners. They were also provided an overview of the channel management initiative as well as its benefits for the banks.
The Mobile Phone Banking – Channel Management Project is an initiative of RBAP-MABS which is supported by USAID, Mercy Corps, with support from the Bill & Melinda Gates Foundation. MICRA Philippines, an accredited MABS Service Provider, as well as support from Globe Telecom’s GXI, the mobile money issuer of GCASH.

Seven of the country’s leading rural banks participated in a senior management consultation meeting to support the expansion of mobile phone banking services under the USAID-supported RBAP-MABS Program held at the RBAP Office in Manila on August 25. Building on the current achievements and outreach of the rural banks in providing mobile phone banking services, the Mobile Phone Banking – Channel Management, was introduced to the rural banks to support, sustain and manage their efforts in providing greater access to banking services in the countryside via mobile money and mobile money cash-in and cash-out outlets (CICOs).

see full sizeThis new initiative aims to demonstrate the effectiveness of applying channel management approaches in mobile phone banking by engaging mobile money CICOs as merchant partners of the banks. Working with mobile money CICOs as partners is expected to significantly expand and increase the availability of mobile money to support mobile phone banking transactions of rural bank clients. In the process, participating rural banks will improve their capability to profitably service their customers particularly in rural and remote areas.

Top officers and representatives from Agribusiness Bank, Bangko Kabayan, Cantilan Bank, First Valley Bank, Green Bank, GM Bank, and PR Bank interacted with officers from the RBAP-MABS Program, Mercy Corps, MICRA Philippines, and USAID. They discussed trends, opportunities, and issues on mobile phone banking and channel management of mobile money CICOs as merchant partners. They were also provided an overview of the channel management initiative as well as its benefits for the banks.

The Mobile Phone Banking – Channel Management Project is an initiative of RBAP-MABS which is supported by USAID, Mercy Corps, with support from the Bill & Melinda Gates Foundation. MICRA Philippines, an accredited MABS Service Provider, as well as support from Globe Telecom’s GXI, the mobile money issuer of GCASH.