Ethan Li

Project Manager

March 31, 2015

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Mobile Banking Boom in Emerging Markets

Have you used mobiles to pay credit card bills or transfer money among accounts via any Bank App? It’s far more convenient than visiting to a bank and waiting in line at counter for these trivials. With mobile banking boom on the horizon, many banks have adopted new technology to catch up with this inevitable Bank 3.0 trend, and release their own App to attract customers.

However, you may wonder whether this trend only happens in developed countries in terms of smartphone penetration rate. How about emerging markets with plenty of unbankable population, who cannot afford expensive gadgets? Surprisingly, people there may use mobile banking services daily more often than you’d expected. Below are some of the findings.

  1. Text Banking

    It’s not only smartphones can do mobile payments, but also any outdated mobile capable of texting messages can do it via “Text Banking”, a service which allows you to quickly request or receive account information via text message.

  2. Prevalent among small businesses

    It fundamentally revolutionized how people do small businesses. For example, a fisherman in Kenya rural village used to spend days commuting between home and local market for vending in person. Now, he can deliver fish through a bus and receive payment remotely at home. It saves both time and money to nurture his business dramatically.

  3. Credibility/fraud concerns

    However, it might backfire in both personal security and credit fraud issues. How can one ensure that his/her personal transaction records, such as amount, GPS location, account number etc, in the phone log won’t be exposed accidently or intentionally from the telecom company side? On the other hand, how can the bank or telecom company prevent one from using single-use cell phones for trafficking or frauds without further credit investigation in advance?

Mobile banking is without doubt rising and popular in emerging countries now. Many NGOs or banks are probing to reach out these unbankable population. How to find a balance between financial regulations and usage convenience is the key to build a better solution locally.

 

April Wu

China Market Strategy

March 25, 2015

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Banking News This Week – Mar 25

The top 5 banking news stories in emerging markets this week.

1 – E. Sun Bank’s expansion to China and Vietnam given the green light

E. Sun Financial Holding Co., parent company of the bank, announced in a statement released on Friday that the China Banking Regulatory Commission has approved its plan to set up a subsidiary and a new branch in Shenzhen, Guangdong Province.  >>

2 – Vietnam Predicted to Be Next Asian Tiger

Perched along one of the world’s most crucial shipping routes, and with a young and growing population, Vietnam is — once again — being tipped for economic lift-off, after years of disappointment. >>

3 – Banks expand network reach

The number of banks in Philippines dropped last year but the lenders’ operating network continued to expand during the period, Bangko Sentral ng Pilipinas data showed. >>

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April Wu

China Market Strategy

March 18, 2015

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Banking News This Week – Mar 18

The top 5 banking news stories in emerging markets this week.

1 – Banking opportunities in Africa look less rosy

Low domestic growth prospects are prompting South African banks to look to the rest of Africa for growth opportunities, where weak commodity prices in certain key economies could also impact negatively on revenues.  >>

2 – Asia steps up efforts to reach the ‘unbanked’

Despite Asia’s economic rise, many of the globe’s “unbanked” citizens, residing in countries including India, China and Myanmar, make do without access to savings, insurance and pensions. >>

3 – Facebook rolling out payments to friends in Messenger

Facebook announced it was launching a system to send money to friends for US customers using its Messenger mobile app. >>

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April Wu

China Market Strategy

March 11, 2015

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Banking News This Week – Mar 11

The top 5 banking news stories in emerging markets this week.

1 – More Asian consumers going online for banking transactions

Digital banking is gaining traction across Asia, a multinational consultancy firm said in a study, with more developed economies in the region leading the shift as emerging markets, the Philippines included, follow suit.  >>

2 – Barclays Africa eyes faster expansion

BARCLAYS Africa Group is intensifying its expansion into the rest of the continent with applications for licences in several countries.  >>

3 – Bank earnings boost Nigerian market

Lifted by the banking sector, the NSE All Share Index finished last week with a 2.3 percent gain as investors reacted to the release of full year earnings by Zenith Bank and GT Bank. >>

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April Wu

China Market Strategy

March 4, 2015

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Banking News This Week – Mar 4

The top 5 banking news stories in emerging markets this week.

1 – Standard Bank stimulates Africa-China investment

Standard Bank Namibia strongly encourages corporate and investment banking relations between Namibia and the Chinese business community.  >>

2 – Retail banking in emerging markets: game on for competitors

Industry experts say banks should partner with telcos to leverage branchless banking and increase competitive advantage.  >>

3 – VietinBank to announce PG Bank merger plan soon

VietinBank Chairman Nguyen Van Thang revealed the bank’s intention to news website BizLive, adding that the merger will be the shortest way for the bank to increase charter capital and assets, and expand its networks.  >>

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