Microcredit organizations, like Grameen Bank, showed that rural poor people are worthy customers, too. Now, traditional banks are beginning to fight back and use mobile technology to claim part of the rural developing world landscape.
Unfortunately, mobile technology is leveling the playing field in favor of big guys on Main Street. The guys on "Dirt Path" will have to step it up and implement mobile technology.
In December, some pilots in mobile bank by Dirt Path will start in Uganda and Congo.
Mobile banking holds the key to tap rural areas
New Delhi (PTI): With increasing cell phone penetration in the country, the mobile commerce space — comprising both banking services and payments — offers more opportunities for banks to reach out to the rural population.
"Mobile banking offers an opportunity for banks to reach out to the rural population and doing business in rural areas has become more viable," Divakar Goswami, who is an executive manager at global consultancy firm Deloitte Research told PTI.
According to him, in India, the penetration of mobiles is much higher as compared to that of banks, which makes the concept of mobile banking more viable.
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