news - Satelite Microfinance Bank sends realtime SMS to borrowers to limit fraud

2012 Annual Conference and the 1st African SPM Conference

from 24/09/2012 to 29/09/2012

Kampala (Uganda)

The Africa Microfinance Network (AFMIN) will organize its 11th Annual Conference
and the 1st African SPM Conference in Kampala, Uganda, from September 24th to 29th, 2012

Discover job opportunities available and their contacts
Click here
More links
More links
Satelite Microfinance Bank sends realtime SMS to borrowers to limit fraud
February 17, 2010

Abuja, February 17, 2010 (Microfinance Focus) - Clickatell, a key player in messaging services, is providing in-country SMS alert services to Satelite Microfinance Bank in collaboration with Neptune Software Plc. Satelite’s customers now receive real-time, priority alert messaging via Clickatell’s Secure Enterprise Mobile Messaging Gateway, notifying them when transactions are taking place on their credit and debit accounts, said a statement.

“Microfinance has fast become an important part of financial services as institutions serve previously under or un-served. Providing reach, connectivity and ubiquity, mobility is standing at the center of this high growth sector as the next billion consumers begin to receive a whole new breed of financial services,” said Pieter de Villiers, Clickatell CEO.

“Emerging markets are showing a tremendous ability to leap-frog developed markets in terms of technology adoption and regulatory reform. In fact, there are three times more mobile payment and mobile banking initiatives in emerging markets than in developed markets.”

Experts estimate that 20-30 billion dollars are currently on loan to more than 50 million microfinance borrowers around the globe. Moreover, approximately 70% of the Nigerian population is un- or under-banked, an exploding demographic to take advantage of microfinance services.

Satelite MFB currently has operations in eight locations across Nigeria. In addition to offering retail and small business savings, loan and credit facilities Satelite MFB is also a Western Union money transfer agent.

OTHER NEWS