Interesting combination of portable collection devices and biometrics to handle payments, deposits, withdrawals, and remittances. With 16 million clients, third-party agent branchless banking provider FINO is growing rapidly. Could there be lessons learned here for Philippine Rural Bankers offering branchless banking? FINO and RBAP-MABS are the two Asia recipients of the Microfinance Opportunities Financial Education for Branchless Banking Initiative supported by the MasterCard Foundation.
The Rural Bankers’ Association of the Philippines (RBAP) said the central bank has approved an increase in the ceiling of its housing micro finance loan product. Joseph Omar Andaya, RBAP president, said the Bangko Sentral ng Pilipinas (BSP) approved the generic operations and procedures manual that would allow micro finance lenders and rural banks to [...]
The entrepreneurial spirit of Filipino microfinance clients couldn’t be any more evident in Mrs. Lorna Espura, who operates a two-hectare vegetable farm in the beautiful fields of Cantilan, Surigao del Sur. A dedicated client of Cantilan Bank, Lorna is currently on her eighth loan of about P20,000 (approximately $440) payable within 6 months. Since 1992, [...]
A joint study group of 9 members from the Alliance for Financial Inclusion (AFI) and the Pacific Island Central Bankers visited the Philippines on June 21-23, 2010 to learn about Philippine mobile phone banking. Specifically, they were interested in the regulatory approach adopted by the Bangko Sentral ng Pilipinas (BSP) for its successful implementation. RBAP-MABS, [...]