Dreamy 15 years into the future, digital banking believed would control the world's financial industry. Even the 2 billion inhabitants of the earth will move up a level that has never happened before.
The latest report foundation Gates Foundation said mobile phone (Mobile) will be key in addressing the low banking penetration among the poor.
In the annual report that was launched late last week, the Gates Foundation outlines a vision for the next 15 years. One is to help poor people change their lives by providing access to mobile banking facility.
Citing businessinsider, Tuesday, January 27, 2015, estimated that about 25 billion adults in the world today do not have a bank account. This hampers their effectiveness in managing assets.
The lack of efficient access to financial services has made the poor wasting valuable time and money. They are a waste of money or pay high interest to moneylenders.
Gates Foundation predicts by 2030, as many as 2 billion people who do not have bank accounts will make payments and purchases with their phone. They will also use this communication tool to save money through mobile money providers who will provide a wide range of financial services-ranging from loans to savings accounts.
Despite the poor generally have minimal funding, the Gates Foundation report shows the marginal cost of creating digital transactions is close to zero. Moreover, more than 70 percent of adults in developing countries have mobile phones.
This means that mobile banking company will receive a commission in a small number of the millions of transactions at a low cost. In this way, mobile banking companies will benefit from their services even for the poorest individuals.
The report then pointed bKash, a provider of mobile money from Bangladesh. The company has processed 2 million transactions like today with a value of US $ 1 billion per month. However, access to bKash still unbalanced. The problem is, 76 percent of men Bangladesh has a mobile phone while the woman is only 46 percent.
The problem of disproportionate access is just one challenge facing mobile banking industry. Others include government regulations, which in many countries restrict the digital banking and the lack of sites where people can change their digital money into cash and vice versa.
source: businessinsider, foundations Gates Foundation
