PPT-Consumers and Mobile Financial Services

Maximilian D Schmeiser Jeanne M Hogarth Matthew B Gross Division of Consumer and Community Affairs Federal Reserve Board of Governors The analysis and conclusions set forth in this presentation represent the work of the author and do not indicate concurrence of the Federal Reserve Board the Federal Reserve Banks or their staff Mention or display of a trademark proprietary product or firm in the presentation by the authors does not constitute an endorsement or criticism by the Federal Reserve System and does not imply approval to the exclusion of other suitable products or firms. Are Barriers Coming Down. Review of Digicel’s Mobile Money service in Haiti. Haiti Market snapshot. Population – 10.17m . (World Bank ‘12). % of Bank accts – 16% . (inclusive of MFI, Credit Union and Bank accts). by. PARAMESWARAN. N. Principal Advisor. Telecom Regulatory Authority of India (TRAI). . Access to banking services: Status. 144.8 m households use banking services in India (58.7% of overall households). Innovations in Technology for Financial Inclusion & Managing Risks . Role of Technology and Innovation in Promoting Financial Inclusion . AFI Global Policy Forum. September 11, 2013. Omokehinde. . Inc., (. GXI) the mobile money service arm of . Globe Telecom, operator . of . GCash, is . the world’s first . Telco-led. , bank agnostic mobile money platform . enabling . customers to pay bills, send money, shop online, make in-store purchases and buy airtime load using their mobile . Stephen Fast. Lead, Cyber Innovation Strategy. Cyber Innovation Division. Applied Research Laboratory . The Pennsylvania State University. saf8@psu.edu. Backdrop. Much discussion and hype. Real danger or paranoia. Survey . The . 2016. Presentation outline. Sample Achieved: 8,665 interviews of 16yrs+. Nationally representative . sample . Representative at regional level. Methodology. Key findings. Financial inclusion: 2006 - 2016. Stephen Fast. Lead, Cyber Innovation Strategy. Cyber Innovation Division. Applied Research Laboratory . The Pennsylvania State University. saf8@psu.edu. Backdrop. Much discussion and hype. Real danger or paranoia. Rethinking Financial Services . Taking Stock of our achievements and forging the way forward. Uptake . of mobile money has grown by 10%-points from 2013. Transactions are the main uptake driver of MFS. Financial Services. Susan Burhouse. Matthew Homer. Yazmin Osaki. Michael Bachman. April 24, 2014. Assessing the Economic . Inclusion Potential of Mobile Financial Services. 1. What are the challenges to . 2013-2014. Consumer Protection and Competition Highlights. Deon Woods Bell . U.S. Federal Trade commission . Sixth Annual African Dialogue conference. Lilongwe, Malawi. September 2014. 2. FTC’s Mission and . 4 th meeting of ITU-T Focus Group Digital Financial Services December 15-16, 2015 ITU Headquarters, Geneva Executive Director “If we were building a financial system from scratch today, we would do it on a digital platform” Ivan James Ssettimba. Outline . Introduction. Mobile Money as DFS . Service Quality of DFS. Fair treatment of Customers. Quality and integrity of Agents. Digital Financial Services . What are Digital Financial Services. Strategic Marketing Summit – 24. th. Sep- Chennai. -Shivkumar Mudaliar- Business head –. Tamilnadu. Circle - UNINOR. Mobile Marketing – True mobile strategy. “Google’s acquisition of . Admob. of Financial Institutions. . Christina Sommer, MasterCard Global Insights. December 2012. 6 Global Drivers impacting consumers are beyond their control but impact . behavior. and over time underlying values.