Developed world economies need to find ways to ensure that the everyday day financial needs of their citizens are met.
Starting to look at the developing world for solutions. It's time to start looking at developing countries for solutions. The rise of mobile combined with the rise financial technology are allowing people access to global financial markets and ultimately to become their own banks.
39. What is Mobile Money?
• Allows users to store, send, and receive
money digitally on their phones.
• Offered primarily by Mobile Telecom
operators.
• Have licenses to provide basic money transfer
services.
• Developed as a direct result of inadequate
payment infrastructures to meet the needs of
lower income users.
40. Consumer Remittances
• Both cross border and domestic need innovation.
• In European Union, only 42% used a financial
institution for remittances.
• Only 9.3% used a traditional money transfer
operator.
• Many still use informal channels: traditonal methods
higher costs, slower process.
• Global Value of Remittances: $586 billion USD
• In 2017: $636 billion
41.
42.
43. The Future of Finance
• Developed world economies need to find
ways to ensure that the everyday day financial
needs of their citizens are met.
• Starting to look at the developing world for
solutions.
67. Recommendations
• Create a beautiful UI & UX experience.
• Include balance availability without login.
• Integrate other mobile tools like calendar.
• Customize user experience based on preferences.
• Location awareness.
• Alerts & notifications.
• Better login
• Allow for search.
68. Mobile Is Eating The World
• And only growing.
• Empowering the entire world.
• Access to global capital markets and the
increase of financial inclusion for all.
• The Power to be your own bank and financial
advisor.
• Mobile is now your workspace.
Proximity mobile payments are defined as payments to a merchant that are initiated by a mobile phone. These payments are made by simply waving a mobile phone that uses Near Field Communication (NFC) technology near a merchant’s Point of Sale device.