IFC mobile services program reaching underserved LAC regions

Written by Patrick Fisher April 2, 2012 0 comment

Microfinance Focus, March 27, 2012: International Finance Corporation (IFC), a member of World Bank Group is working with three partner organizations to bring mobile financial services to the remote and underserved population of Latin America and Caribbean countries.

IFC’s Mobile Financial Services programme is providing financial institutions and service providers with customized solutions for their agent networks to benefit the underserved users.

Spanish Fund for Latin America and the Caribbean and Netherlands-IFC Partnership programme along with the Government of Luxembourg are the IFC’s partners in this initiative.

Since its launch in December 2010, Mobile Financial Services has assessed the potential for mobile financial services in five different countries in Latin America and Caribbean region. Research has also been conducted which studied the demand and characteristics of the end users and also worked out to give better product design, business plan and agent-network development.

“This program is aligned with our strategy in the region to develop innovative, commercially viable business models that achieve significant scale and reach the underserved sectors of the population.” said, Ghada Teima, IFC Access to Finance Manager for Latin America and the Caribbean region.

Moreover, IFC is hosting a one-day workshop for mobile financial services providers. The workshop will feature expert speakers from Latin America and other regions, giving participants the opportunity to learn about current mobile money deployments and their challenges.

The workshop will showcase the different agent models being used around the world and highlight the key steps to a successful agent network roll-out.