Study shows SMS Reminders Boost Ontime Loan Payments

January 21, 2012 By Leave a Comment

Professor Dean KarlanInnovations for Poverty Action (IPA) led by Professor Dean Karlan of Yale University, in partnership with United States Agency for International Development-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program,  conducted a study to test the effectiveness of using text messages (SMS) for loan payment reminder. Updates on this study were shared with RBAP-MABS on January 20, 2012.

In partnership with two RBAP-MABS participating banks, Green Bank Inc. and the Rural Bank of Mabitac, IPA studied the impact of SMS reminders with 1,259 first time borrowers. The study was designed to investigate the importance of the SMS’s timing, framing and personalization of reminders sent to borrowers.  For a period of sixteen (16) months between January 2009 and April 2010, 840 randomly selected loan clients received SMS reminders in their local dialect reminding them to pay their loans.

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RBAP-MABS Outlines Financial Education for Branchless Banking During the 8th Citi-Financial Times Financial Education Summit

November 30, 2011 By Leave a Comment

Shirley-PitalgoThe 8th Citi-Financial Times (FT) Financial Education Summit, the most established annual international forum on financial literacy, was held on November 28-29, 2011 in Jakarta, Indonesia. With the theme “Empowering the Disadvantaged: Inclusive and Innovative Approaches to Financial Capability”, the Summit focused on how to increase the uptake of financial education initiatives at grassroots levels – microentrepreneurs, migrant workers, and low-income youth – and also explored the use of technology and media in scaling programs and reducing the cost of delivery.  The roles of national frameworks and multi-stakeholder partnerships in addressing large-scale financial capability and consumer protection needs were also addressed.

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RBAP-MABS to share experiences during the Citi-FT Financial Education Summit 2011

November 25, 2011 By Leave a Comment

The 8th Citi – Financial Times Financial Education Summit with its theme Empowering the Disadvantaged: Inclusive and Innovative Approaches to Financial Capability will be held on November 28-29 in Jakarta, Indonesia.  The USAID-supported RBAP-MABS program is proud to be asked to share experiences in providing financial education to encourage the adoption of mobile phone banking services among clients of rural banks at this year’s event.

The summit will focus on the importance of financial education for the poor and the need for greater innovation and collaboration among stakeholders to hasten progress in reducing poverty and boosting financial inclusion. It also aims to increase the uptake of financial education initiatives at grassroots levels and explore the use of technology and media in scaling programmes and reducing the cost of delivery.

More than 250 participants from all over the world are expected to attend and participate in the summit. We will share experiences and lessons learned on this blog so stay tuned for updates from the summit. For more information please go to http://www.financialeducationsummit.org/

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RBAP-MABS Shares Microinsurance Experiences of Philippine Rural Banks at the 7th International Microinsurance Conference in Brazil

November 11, 2011 By Leave a Comment

7th International Microinsurance Conference 2011

The United States Agency for International Development-supported Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) Program presented during the 7th International Microinsurance Conference held in Rio de Janeiro, Brazil from November 8-10, 2011. Organized by the Munich Re Foundation and the Microinsurance Network and supported by the Brazilian Confederation of Insurers (CNseg), the Superintendence of Private Insurance (SUSEP), GIZ/BMZ and Georgia State University, the conference focused on a variety of topics that are relevant to offering appropriate insurance products and services to low-income households.

The RBAP-MABS Microinsurance Coordinator, Ruth Aseron, discussed the advantages of rural banks as microinsurance agents, the strategies employed by RBAP as a technical assistance provider to member rural banks, and the unique approaches and methodologies training banks as microinsurance agents. The presentation also highlighted how the public private partnership between USAID, RBAP, the International Labor Organization’s Microinsurance Innovation Facility, and private insurance companies in the Philippines provided a unique opportunity to cost-efficiently develop the capacity of rural banks to sell, market and service the microinsurance needs of clients in rural areas.

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Mobile Phone Banking Services Initiative Highlighted During the 50th Anniversary of USAID and Peace Corps

November 5, 2011 By Leave a Comment

The United States Agency for International Development Agency (USAID) and Peace Corps organized an event demonstrating their involvement in the Philippines to mark their 50th anniversary last November 4 at the SM Mall of Asia Music Hall. In line with the event, the Rural Bankers Association of the Philippines-Microenterprise Access to Banking Services (RBAP-MABS) program presented the use of new mobile technology for microenterprise.

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