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2010 Annual Conference and General Assembly
from 05/10/2010 to 09/10/2010
Accra, Ghana
From October 5th to 9th, 2010, the Africa Microfinance Network (AFMIN) will organize its 9th Annual Conference on the theme "Access to Financial Services: Reaching the Poor and Excluded"....
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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
- Microfinance News Synopsis: MFIs tap technology as the bridge to reach unbanked millions
- Nigeria: The Sins of Microfinance Banks
- Nigeria: ‘States not supporting micro finance banks’
- Microfinance mission accomplished? Hardly, expert says
- IFC Invests in Zanaco to Increase Finance for Agribusiness and Smaller Companies in Zambia
- PesaPot, RedCloud to offer Mobile Technology for Kenyan Microfinance Organizations
- Will new capital base restore confidence in microfinance banks?
- 'It is not possible to decrease microfinance rates as of now'
- CBN, MFB operators’ disagreement keeps new guideline on hold
- Citibank to push for shariah-compliant microfinance banks
